JUST FIND YOUR ANSWERS BELOW:

Q
How easy it is change accountant and why should I change?
AIf your existing accountant is offering a great service and you are completely happy then the best advice is stay with them, however if you are not satisfied with them and would like to change, it does not take a long time, it simply is transferring over records and a simple HMRC form in which we would fill for you to swap over accountants where would then act as agents for you.
Q
Should/Do I have to be VAT registered?
ANo. You should only be VAT registered if your turnover is over the threshold limit of £83,000 and by law need to be registered, otherwise there is no need in being registered.
Q
Should I be a Sole Trader, Partnership, Limited Company or LLP?
ALike most things, it depends on a number of factors: the type of business that you are in and in particular, your size and profitability. All of these may determine whether there are tax advantage to being set up in a particular way. There are also other legal and statutory issues that may make you more in need of one structure than another.
Q
What do I do if I think I owe tax or owed tax?
AIf you are an individual you will need to complete your self-assessment tax return or if you are a company who owes tax then you are required by law to complete a  tax return and pay any over due tax. HMRC will not necessarily tell you to do so but, notwithstanding this, you could be liable to penalties and interest on outstanding tax if you do not declare such tax or do not complete a tax return within the statutory time limits.

If you are owed tax then, it can be a long process to investigate the amount owed, but it starts with working forms and supporting evidence to give to HMRC. An accountant can easily do this and can quicken the process.

Q
You seem to offer a lot. Are your fees expensive?
ANo! We offer fixed fees linked to the value of what we provide. We are not expensive and we offer excellent value for what we provide. Most importantly we never undertake work without agreeing the fee arrangements in advance so you always know where you stand.
Q
Do I have to manage my finances personally or can an accountant do it for me?
AIn most cases you do not have to manage your finances on your own. You may authorise an accountant to act for you. In fact, some entrepreneurs find it too complicated or time-consuming to deal with financial matters by themselves. You can avoid many misunderstandings or mistakes if you authorise an accountant to do it for you. HMRC requires a special form for this purpose.