Do I need an Accountant?
Many individuals and companies choose not to employ accountants and prepare their own accounts and tax returns. The danger with this is that unless you understand accounting and taxation laws and regulations, it is very easy to make costly mistakes.
Accountants study for years to gain our qualifications, knowledge, understanding and experience. We continue to further our knowledge and keep up to date with all the appropriate laws, legislations and regulations.
We aren't simply here to fill out forms or create reports, we can ensure that you are making the most of all allowances and benefits that are available to you, we can help manage business assets and ensure they are being utilised to your advantage, we can advise on the most tax efficient way to run your business not to mention taking away from you the burden of year end procedures.
Employing an accountant is a wise investment, we say this not from a bias point of view but one of experience.
How much does it cost?
We tailor packages to meet our clients individual needs. We will not quote, without having first engaged in an initial consultation to discuss your requirements and expectations.
We may also need to review your previous accounts and any financial records to give us a better understanding of your position.
Fees are computed on the time we expect to spend on your affairs and the responsibility and skill involved. You pay for a personal service, you have two points of contact only and will also benefit from cover under our tax fee protection insurance.
To give you an idea;
Limited company annual packages start from £1200
Sole trader and individual self assessment packages start from £300
Tailored tax advice from £75ph
We do offer several payment options, be it monthly, quarterly or annual payments.
Do you offer discounts?
In some circumsances yes, for example, if man and wife approach us for individual self assessment services, given that we are going to be considering your joint financial position to consider any reliefs and allowances that may be available to you, we offer a 'family package' which would cost less than two individual self assessment packages.
Partnerships, we do not quote individually for 3 self assessment returns and accounts, we discount to form a package which is less costly.
We quote based on the time we expect it to take us to deal with your affairs and the responsibility and skill involved, but if we get to the end of your company year and after preparaing and filing all the relevent assessments and documents, discover that this took us less time than we had first anticipated, we are always very transparent about this and either discount our fee, or add it on account for the next years services.
Unfortnately, we do not offer 'first year discounts'. We offer a personal service and do find that most individuals actually need more help and advice in their first year of trading or requiring services.
That said, if you approach us part way through your company year, any quote we give you will be for a full financial year and therefore services and their fees will be apportioned to relfelct this.
What can you offer me that another accountant cannot?
We do not like to compare our services to those of our peers. There are many professional, experienced and affordable practices and firms that you can choose from. You will find that many accountants have specific areas of expertise and interest and that some may be more suited to your needs than others.
We do promise to offer you a professional, personal, experienced and efficient service, in a comfortable environment. We will get to know you and your business (if applicable) and ensure we keep up to date on all changes that may affect you. You can also relax knowing that as one of our clients, not only will we take care of all HMRC correspondence for you, but that you'll be covered under our tax fee protection insurance.
What can I expect from an initial consultation?
An initial phone consultation is a chance for us to introduce ourselves and for us to get a better understanding of your needs and requirements. It also gives you a chance to find out a little bt more about the way we work and make any requests that may be relevent to us being able to produce a quote.
We do also offer initial zoom/skype consultations, by appointment, if you prefer to be face to face.
Why can I not have an initial face to face in person meeting?
The main reason we do not offer face to face initial consultations is that we are a home based practice. For our own security and privacy, we do not offer face to face meetings until a client - accountant relationship has been established.
Another reason is that, initial consultations are just a chance for us to get to know each other, get to know what services you require to enable us to quote you and then let you decide if you wish to move foreward. Face to face meetings tend to go on for longer than telephone concultations and given that the director, Hana, is the person who deals with all initial enquiries, she would never have any time in the office working on clients affairs if she were to offer in house appointments to all prospective clients.
Do you offer home visits?
Unfortunately not at present.
As explained in our 'face to face consultation' answer, Hana, the director, is the person who holds meetings as she is the principle accountant and the person who will be dealing with your affairs.
Unfortunately, we have found that by offering home appointments, the commute time between clients, along with any unexpected delays, means that we could only fit 3 or 4 meetings in a day and no office time. Holding meetings at our venue means that we can do this one day per week on alternate days (so that we can fit in with your schedules) and we fit up to 6 meetings in a day.
Will you show me how to fill out my own self assessment?
This is a commonly asked question and unfortunately, we don't offer training services.
When we file your self assessment, we are not just filling out the forms, we are ensuring all reliefs and allowances are utilised.
The main reason though, is that year to year, the tax return form changes, the questions and boxes can change, as can your affairs.
If for example we have shown you how to fill out your self assessment one year, but the next year your pension contribution arrangement has changed, you may end up putting the wrong figure in the wrong box and sumitting an incorrect assessment which could lead to penalties.
That said, we always send over a copy of your comleted tax return for you to approve and one for your records. You will be able to see from this, the pages we have submitted.