FAQ’s

These are a few of the more common questions we get asked by prospective clients considering using our services:

Q: How easy is it to change accountants and why should I change?

A: If your existing accountant is offering you an excellent pro-active service at a fair fee then stick with them.

However, different accountants may be able to save you different amounts of tax and provide different levels of business advice depending upon their experience.

If your present accountant doesn’t offer the type of service you require, then changing over to us is very easy.

It involves just one letter from you and we take care of everything else for you. Your existing accountant is not usually allowed to charge you for providing the normal handover information.

Q: Why should I use an accountant before I start my new business?

Preliminary business advice will help avoid mistakes. We are able to run through your business plan and advice on the format of the business – will you operate as a sole trader, a partnership or a limited company?

Each choice has implications in respect of legal contracts; registering for VAT and the amount of credit your suppliers will allow your business.

Q: When should I register for VAT?

If you doing business in the UK as an individual, a partnership, a company, an association, a charity, a local authority or any organisation or group of people that are acting together under a specific name then your business may need to register for VAT.

VAT registration is compulsory if your annual turnover exceeds £79,000 or you expect the turnover to be higher than that amount in the next 30 days. If your turnover has temporarily exceeded the limit, you may apply for an exemption from registration.

Exemption from VAT registration applies to entrepreneurs supplying goods or services within the UK. If you take over a VAT registered business, your VAT taxable turnover over the last 12 months must be added to the turnover of the business you are taking over when checking if the registration threshold has been exceeded. If you have received goods from other countries in the EU, registration for VAT is compulsory if the total value of the goods acquired has gone over £79,000 in the current year since 1 January.

Q: Will you come to visit us for an initial consultation?

A: Yes. It often helps to see your business, books and records, etc at first hand and we are always happy to invest our time without charge to show you what we can do. Of course, if you prefer to visit us, that’s fine too.

Q: When and how soon can you come to see us?

A: When’s good for you? Let us know and we’ll do our utmost to help. If you need to see somebody urgently, we’re always out and about and can arrange to see you very quickly.

Q: Is your fixed quote guaranteed for more than one year?

A: We’re not in the business of providing low quotes just to get your business for the first year and then raising the fees. We want you as a long-term client who trusts us to do what we say we will do. We quote what we anticipate to be a fair fee for the value provided and would only anticipate normal inflationary increases if the work stays the same. Very occasionally there may be reasons why the amount of work involved exceeded what was expected but we would sit down and discuss these with you. In some cases, where it is clear exactly what work is involved we can guarantee the fee for more than one year.

Q: You seem to be offering so much that I’m just not used to from my present accountant. How do I know you will deliver?

A: All we can say is that as accountants, you’d expect us to be a bit analytical, which is true. As such do you really think we would offer you something we couldn’t deliver that is backed up by our 100% risk-free guarantee? Our clients are used to this level of service. You are also more than welcome to speak with some of our existing clients who have the experience of our service.

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