Knowledge Base
Your accounting questions, clearly answered.
Practical answers about records, accounts and tax reporting for businesses and individuals. Guidance reviewed on 11 October 2026.
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- General Accounting
- Bookkeeping
- Corporation Tax
- VAT
- Payroll
- Self Assessment
- Startups
- Switching Accountants
- Making Tax Digital
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Ask Us DirectlyGeneral Accounting
That depends on its legal structure, registrations, employees and reporting needs. Bookkeeping supports the records; accounts, tax returns, VAT and payroll have separate requirements. We discuss which tasks apply before agreeing an engagement.
Fees depend on scope, record quality, transaction volume and complexity. We discuss the proposed work and quote before starting, including which tasks or statutory fees are separate.
Our published base is 4 Pond Green, Ruislip, HA4 6EW. We serve businesses and individuals in Harrow and across North West London. Contact us to agree meeting arrangements before visiting.
Cloud Bookkeeping
Software helps record transactions, but entries still need appropriate categories, evidence and reconciliation. A bank feed alone does not establish the business purpose or VAT treatment of a payment.
Tell us the product and subscription you use. We review the records and reporting needs before discussing whether to retain the system, improve the setup or plan a separately agreed migration.
Corporation Tax
For ordinary non-ring-fence profits, the small profits rate is 19% and the main rate is 25%. The usual £50,000 and £250,000 limits are reduced for short periods and associated companies. Marginal relief and eligibility must be checked.
No. Outside instalment-payment rules, payment is normally due nine months and one day after the period ends, while the Company Tax Return is normally due within 12 months. Check the company's actual period and circumstances.
No. Qualifying scientific or technological work, costs and scheme requirements must be assessed. A new product, software project or commercial innovation does not by itself establish eligibility.
VAT
Review taxable turnover against the current £90,000 threshold using both the last-12-months test and the separate expected-next-30-days test. Each has its own notification rules. Voluntary registration may be possible below the threshold.
No. Late-submission penalty points and thresholds depend on the return frequency and circumstances. Late-payment penalties and interest are separate. Check the current HMRC guidance and your VAT account rather than assuming a single rule applies.
Payroll and Pensions
A Full Payment Submission normally reports employee pay and deductions on or before payday. Employer Payment Summaries are used for specific circumstances and follow separate rules. The employer remains responsible for payment of salaries and liabilities.
Eligibility depends on age, earnings and the employment circumstances. Other workers may have opt-in or joining rights. Employers need to assess the workforce, communicate appropriately and fulfil the duties that apply.
Self Assessment
No. Directorship or salary alone does not automatically require a return. The income, gains, relevant reporting rules and any HMRC notice determine the position. Use HMRC's current check or discuss the actual circumstances.
The usual paper deadline is 31 October 2026 and the online deadline is 31 January 2027. The normal balancing payment is also due on 31 January 2027. Special circumstances and registration can have different rules.
No. The rules depend on the amount of tax due and how much was collected outside Self Assessment. Where they apply, the usual dates are 31 January and 31 July.
No. Employee expenses and self-employed business costs have different rules. A claim must reflect the relevant method, business use and evidence; one weekly figure is not suitable for every taxpayer.
Startups and New Businesses
Keep documents from the first relevant transaction, including setup costs, sales, purchases and funds introduced. Identify business and personal spending, and discuss required registrations and the first reporting period.
No. It is an optional HMRC process addressing specified company scheme conditions on the information supplied. It does not guarantee an investor's relief, and the full conditions and compliance steps still matter.
Switching Accountants
Agree the scope with the new accountant, identify completed and outstanding filings and arrange access to the relevant records. A handover may involve contacting the outgoing accountant with your permission and arranging the necessary tax authorisations.
Timing depends on record availability, outstanding work, software access and authorisations. Share upcoming deadlines at the outset so the transition can be planned around the actual work required.
Making Tax Digital for Income Tax
Eligible sole traders and landlords with qualifying income above £50,000 in 2024/25 entered from 6 April 2026. The later tiers use above £30,000 in 2025/26 from April 2027, and above £20,000 in 2026/27 from April 2028. Exemptions may apply.
No. Qualifying income is gross self-employment and property income combined, before expenses. Other income can still need to be reported in the annual tax return, but salary and dividends do not themselves establish MTD entry.
The standard deadlines are 7 August 2026, 7 November 2026, 7 February 2027 and 7 May 2027. Check the relevant obligations in your software. HMRC is not applying late quarterly-update penalty points for 2026/27.
No. You must complete the annual tax position using compatible software by 31 January following the relevant tax year. The first MTD tax return for 2026/27 is due by 31 January 2028. There is no separate End of Period Statement requirement.
Only if the agreed scope includes it. Digital bookkeeping, quarterly updates, annual return completion and software subscriptions should be specified so responsibilities and charges are clear.
Check the official guidance
Your circumstances and the relevant period affect the reporting rules. These official sources support the dated answers above.