FAQ
Questions
Frequently Asked Questions
If you have frequently asked questions from visitors, you can create an FAQs page to provide pre-answered questions and additional information
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How much do you charge for accounting, tax, and financial services?
We charge our clients based on how much time we spend on their work.
This method of charging is the most reasonable, as each client's circumstances differ significantly.
The hourly rates we charge vary depending on the person working on the project and, in some cases, on the complexity of the work involved.
We are always happy to discuss the likely fee amounts with potential clients. However, some services, such as payroll, are charged at fixed rates. -
Do you provide a complimentary introductory meeting?
Yes. We are pleased to discuss the needs of potential clients over the phone, in person, or both.
We differ from some other companies by setting a limit on the maximum duration of the meeting.
However, to protect our interests, we reserve the right to revise the arrangement if the conversation exceeds the maximum time or transitions into a detailed advice session. -
Do you know my business sector?
We have clients from various industries, and the answer may often be affirmative.
However, we believe that in most cases, it is not a significant matter.
The accounting and tax issues faced by most businesses are usually quite similar. -
May I know if you have any specific areas of expertise?
We cater to a wide range of businesses, including limited companies and individuals with varying specializations.
Our expertise also extends to property-related work, giving us a diverse range of experience across different fields.
We have established strong relationships with several solicitor firms to simplify procedures for our clients, and we possess a thorough knowledge of accounting rules and report submission requirements for solicitors. -
What will happen if I already have an accountant?
Accountants have a professional obligation to seek professional clearance from the previous accountant.
This process is usually straightforward and hassle-free, but in some cases, it can become problematic.
The procedure for transferring a client's affairs is usually simple, and the previous accountant should not charge for it.
Similarly, we would not charge our clients for this service. -
Is it possible for me to work with you regardless of the location of my business?
Of course! We are an online practice, which means that we can work with you regardless of your business location.
You can communicate with us through WhatsApp, phone, and email, so you can work with us from anywhere in the world. -
What will happen to the outstanding accounts of my business?
If you have any unpaid accounts, we will charge you a maximum of our annual fee, which is equal to 12 times the appropriate monthly fee.
However, we understand that this may have an impact on your cash flow.
Therefore, we will work with you to agree on an affordable payment plan to ensure that your finances are not affected drastically. -
I am very happy with the services provided by my accountant
If you are completely satisfied with your current accountant, it may be challenging to consider a change.
After all, it is not easy to find an excellent accountant who fully understands your business needs.
However, we invite you to take a closer look at what we offer and ask yourself if your current accountant can provide you with equivalent services at the same value. If they cannot, it may be time to consider talking to us. -
There are other online accounting service providers available who offer services at a lower cost.
Our fees are average in the marketplace—we are cheaper than some firms but more expensive than others.
Although we are not competing with the lower end of the market, we believe that our fees reflect our qualified staff's knowledge, experience, and expertise. While we cannot promise to be the cheapest accountant you'll find, we can promise to provide the best value for your money.
If you are still concerned about affordability, please call us, and we will do our best to help you take the first step towards success.
That's our promise to you."... -
How can I select the most suitable accounting software for my business?
Choosing the right accounting software for your business can feel overwhelming, but rest assured that we can work with any software you choose.
We are also available to assist you in making an informed decision about selecting accounting software. -
When is the appropriate time to register my business for VAT?
In the United Kingdom, a business must register for Value Added Tax (VAT) if its taxable supplies and imports exceed the current VAT registration threshold of £90,000.
If your business's taxable turnover (the value of your supplies excluding VAT) exceeds this amount, you must register for VAT within 30 days of reaching the threshold.
It is important to note that even if your business's taxable turnover is below the threshold, you may still choose to register for VAT voluntarily if you believe it would benefit your business.
In this case, you could recover the VAT you pay on your business expenses, and you may be able to increase the price of your products and services to include VAT, which can make them more attractive to your customers.
If you are unsure whether your business should register for VAT, we would be happy to provide you with guidance. -
Is it possible to operate a business without the help of an accountant?
There are numerous reasons why you should leverage accountant support.
Firstly, we possess expertise in tax laws and regulations that can aid you in saving money by ensuring that you take advantage of all eligible tax deductions and credits.
Secondly, keeping accurate financial records and preparing tax returns can be time-consuming and complex. By outsourcing these tasks to us, you can free up time to focus on other aspects of your business.
Thirdly, we will help you stay compliant with tax laws and regulations, which can save you from costly penalties and fines. Fourthly, we can provide valuable financial advice and insights to help you make informed business decisions. Our team can help you understand your financial statements, identify trends and potential issues, and provide recommendations for improvement.
Finally, working with us gives you peace of mind, knowing that you’re financial and tax matters are in the hands of professionals who are looking out for your best interests.
Overall, using our services can help you save time and money and ensure that you’re financial and tax matters are handled competently and efficiently. -
What advantages come with collaborating with a small accounting firm?
Working with a small accounting practice can be highly beneficial for several reasons.
Firstly, small practices tend to have a smaller client base, allowing them to provide more personalized attention and service to each client. This can lead to a better understanding of your unique financial needs and a stronger, more collaborative relationship with your accountant.
Secondly, small accounting practices often have lower overhead costs, which means they can offer their services at more affordable rates than larger practices. This makes them a cost-effective option for businesses of all sizes.
Thirdly, small accounting practices are often more flexible and can adapt quickly to changing circumstances than larger ones. This can be particularly beneficial for small businesses or entrepreneurs who need a flexible and responsive accounting partner.
Fourthly, many small accounting practices are owned and operated by experienced and knowledgeable accountants who bring high levels of expertise and attention to detail. This can result in more accurate and comprehensive financial reporting and valuable insights and advice on financial management and tax planning.
Finally, small accounting practices are often regionally based, which means they have a strong understanding of their area's business environment and tax laws. This can be especially beneficial for small businesses operating in a specific location.
Overall, working with a small accounting practice such as ours means we can provide you with a personalized and cost-effective accounting solution tailored to your business's specific needs.