Welcome pack FAQs

We offer services including self assessment tax returns, personal and business tax advice, research and development, bookkeeping, annual accounts, VAT, payroll, company secretarial services, corporate finance, grants advisory, tax advisory services (EMI, growth shares, inheritance tax, trusts etc) and much more.

We will confirm exactly which services we are providing to you in our engagement letter before we start work.

An engagement letter is a written agreement that sets out what we will do for you, what you agree to do, our fees, and other key terms.

It ensures we both have a clear understanding of the scope of work, responsibilities, and how our professional relationship will operate.

Signing the engagement letter confirms that you understand and agree to the services we will provide and the related terms.

It also provides protection and clarity for both you and us if there is ever a question or dispute about what was agreed.

With your permission, we will contact your previous accountant to request professional clearance and relevant background information. This helps ensure a smooth handover and gives us an accurate understanding of your affairs from the outset.

Please ensure that their fees are paid, as this can delay the handover process.

Some photographic identification (passport ideally with the numeric values visible at the bottom) as well as something with your home address on (utility bill, bank statement etc), dated within the last three months. A note of your prior addresses in the last 12 months would also be required, if applicable.

An understanding of the level of your wealth and how this has arisen – from earned income, inheritances, winnings etc and over what time frame. Please also provide details of any debts – mortgages, loans, HP etc.

An overview of your tax and accounting history
For ongoing work, we will also need timely and complete financial records so that we can meet filing and payment deadlines.

Form 64-8 is HMRC’s “Authorising your agent” form. It allows HMRC to discuss your tax affairs with us and to send us copies of certain communications.

Without this authority, HMRC will normally only speak to you directly about your tax position.

Having authority means we can speak to HMRC on your behalf, view certain information, and deal with many issues directly for you.

This can save you time and helps us resolve queries or problems more efficiently.

You can authorise us either by signing a 64-8 form or by using HMRC’s online authorisation process, depending on the tax area.

We will guide you through the steps and confirm once HMRC has processed the authorisation.

Self Assessment is HMRC’s system for collecting income tax and certain other taxes from individuals and some unincorporated businesses.

You are responsible for declaring your income and gains each year and for paying any tax due by the relevant deadlines.

You may need to complete a return if, for example, you are self‑employed, a partner in a business, receive significant untaxed income (e.g. dividends from your limited company), are required to repay child benefit, or have chargeable capital gains.
If you are unsure, we can review your circumstances and advise whether you are required to file a return.

We will need details of all sources of income and gains, such as employment income, self‑employment, property income, dividends, interest, pensions, and capital disposals.

We will provide you with a checklist or questionnaire each year to help you gather the relevant information.

There are deadlines for both submitting your tax return and paying any tax due. These are usually 31 January and 31 July, in the main. However, there are other deadlines that may impact you. We will confirm the specific dates that apply to you each year and remind you of them in good time.

Your tax is generally due by HMRC’s payment deadlines, which are separate from the filing deadline for your return.

We will tell you how much to pay, when to pay it, and the different methods you can use to make payment to HMRC.

Payments on account are advance payments towards your next tax year’s liability, based on your most recent completed tax return.

HMRC requires payments on account when a significant part of your tax is not collected through PAYE, such as self‑employment or property income.

This helps spread the cost of your tax liabilities over the year instead of paying it all in one lump sum after the year end.

Payments on account can sometimes be reduced if you reasonably expect your tax liability for the current year to be lower than the previous year.

We can help you estimate your current‑year position and, where appropriate, make a claim to reduce the payments.

If you have a limited company, you must file annual accounts and a confirmation statement with Companies House, as well as notify them of certain changes.

We can prepare and file these documents for you if this is included in our engagement.

Company annual accounts are a formal summary of your company’s financial activity for the year, prepared in a set format.
They must be filed with Companies House by the statutory deadline and are also used to prepare your corporation tax return.

A confirmation statement (form CS01) is an annual return to Companies House confirming that your company information is up to date.

It covers details such as registered office, directors, people with significant control, and share capital.

Companies House sets deadlines for filing both your annual accounts and your confirmation statement each year.

We will confirm your specific dates and can remind you and file on your behalf if this is within our agreed services.

We can file many routine Companies House forms for changes such as new directors, address changes, or share issues, if agreed as part of our service.

Please inform us promptly of any changes so that we can meet the filing deadlines and keep the public record accurate.

Corporation tax is the tax that limited companies pay on their taxable profits.

We calculate your company’s taxable profit, prepare the corporation tax return, and advise you of how much tax is due and when to pay it.

Corporation tax is due by a deadline linked to your company’s accounting period.

We will confirm the due dates for payment and filing for each accounting period and remind you in advance.

The corporation tax return, often called a CT600, is the form submitted to HMRC showing your company’s taxable profits and the corporation tax due for the period.

We prepare this based on your final accounts and submit it to HMRC once you have approved the figures.

Section 455 tax is a tax charge that can arise when a close company makes a loan to a director or certain shareholders that is not repaid within a set timeframe.

It is a temporary corporation tax charge which may be reclaimed when the loan is repaid or written off, subject to the rules.

You may be affected if you or another participator borrow money from your company and the balance remains outstanding beyond the relevant date.

We can review your director’s loan account and advise you on whether any s455 charges apply and how to manage or avoid them.

Our fees are normally based on the scope and complexity of the work, the time involved, and the level of expertise required.
The engagement letter will set out our fee basis (unless those have been agreed separately), such as fixed fees for certain services or time‑based charges, and when payment is due.

We usually communicate by email, phone, and secure electronic portals where appropriate.

We may also use post or in‑person meetings where that is more suitable for the nature of the work or your preferences.

You are responsible for providing accurate and complete information in good time, reviewing the returns or documents we prepare, and paying any tax due to HMRC.

You are also responsible for keeping adequate records to support the figures in your accounts and tax returns.

We are responsible for carrying out the work set out in the engagement letter with reasonable care and skill and in line with professional and regulatory standards.

We will use the information you provide to prepare returns and accounts and will highlight issues or planning opportunities that come to our attention as part of that work.

We will keep your files and working papers for a minimum period set out in our engagement letter and in line with legal and professional requirements.

After that period, we may securely destroy them unless you have expressly asked us in writing to retain specific documents and we have agreed to do so.

If your business or personal circumstances change, please tell us as soon as possible so we can update our advice and services.
In some cases, we may need to issue an updated engagement letter to reflect any new or additional work.

Yes, you can ask us to add or remove services as your needs change. We will confirm any changes in writing, including any impact on our fees and responsibilities.

You can end our engagement by giving us notice in accordance with the terms set out in the engagement letter.

Once your new accountant has your authority, we will cooperate with them and provide reasonable handover information, subject to any outstanding fees or obligations.

We may terminate the engagement in certain circumstances, for example if fees remain unpaid, required information is not provided, or professional rules require us to cease acting.

The engagement letter sets out the situations in which we may do this and the notice we will give.

Yes, we aim to remind you of key filing and payment deadlines for the services we provide to you.

However, you remain legally responsible for ensuring that your returns are submitted and tax is paid on time.

If HMRC opens an enquiry or asks questions about your return, we can assist you in responding and dealing with the process.
Any additional work in relation to enquiries or investigations will normally be subject to separate fees, which we will discuss with you in advance.

Yes, alongside preparing returns and accounts, we can advise on legitimate and compliant ways to structure your affairs tax‑efficiently.

Any specific planning projects will be clearly defined and agreed with you before we begin work.

Yes. We offer a tax fee protection service that can cover our professional fees for dealing with HMRC enquiries and investigations, subject to the policy terms and limits.

Taking out this cover is optional, and we will explain the cost, scope of cover, and any exclusions before you decide whether to opt in.

A P11D is a form used to report certain benefits and expenses provided to employees and directors, such as company cars, medical insurance, and beneficial loans.

HMRC uses the information on P11Ds to make sure the correct amount of tax and National Insurance is paid on these benefits.

You need to file P11Ds if your company provides taxable benefits or expenses to employees or directors that are not fully dealt with through payroll.

We can review your arrangements each year and confirm whether P11Ds are required and for whom.

We will need details of all benefits and expenses provided, including dates, amounts, and any employee contributions.
Common items include company cars and fuel, private medical insurance, interest‑free or low‑interest loans, and certain reimbursed expenses.

P11D forms must be submitted to HMRC by a set deadline after the end of the tax year (6 July), and employees must be given their copies.

There is also a separate deadline for paying any Class 1A National Insurance due on the benefits.

Class 1A National Insurance is a charge employers pay on most taxable benefits reported on the P11D.

We calculate the Class 1A amount due, tell you when and how to pay it, and can arrange filing of the P11D(b) employer declaration.

Yes, in many cases benefits can be “payrolled”, meaning they are taxed through the monthly payroll instead of via P11Ds.
We can advise whether payrolling benefits is suitable for you and help you register and set this up if required.

No, we do not provide financial advice as this is a restricted activity regulated by the Financial Conduct Authority (FCA).
We focus on accountancy, tax compliance, and related services. If you need investment, pension, or insurance advice, we can introduce you to authorised Independent Financial Advisers (IFAs).

No, we do not provide legal advice as we are not qualified solicitors.

We can however introduce you to trusted lawyers and specialists for matters such as company law, contracts, or employment issues, and we often work alongside them on your behalf.

A PAYE Settlement Agreement (PSA) is an arrangement with HMRC that lets employers make one annual payment to cover all tax and Class 1B National Insurance due on minor, irregular, or impracticable employee benefits and expenses.

Instead of reporting these items on individual P11Ds or through payroll, everything is settled in a single payment, simplifying administration.

You must register if your taxable turnover exceeds the current VAT registration threshold (currently £90,000 in a 12‑month rolling period) or if you expect to exceed it in the next 30 days.

Voluntary registration can be beneficial below the threshold in some cases.

Most businesses submit quarterly. Some use monthly returns (e.g., regular repayment traders) or annual accounting schemes.

We’ll recommend the most cash‑flow‑friendly option.

Yes. Under Making Tax Digital (MTD) for VAT, all VAT‑registered businesses must keep digital records and submit returns via MTD‑compatible software.

We support Xero, QuickBooks, Sage and others.

Most employers run payroll monthly, but weekly or fortnightly is fine if it suits your team.

We’ll ensure Real Time Information (RTI) submissions are filed with HMRC on or before pay day.

Real Time Information is HMRC’s system requiring payroll data to be reported every pay period rather than annually. It keeps your PAYE and NIC up to date.

Most employers must operate automatic enrolment, assess staff, contribute at least the minimum employer contribution, and complete Declaration of Compliance duties. We can set up and run this for you.

Changes to directors/secretaries, registered office, accounting reference date, people with significant control (PSCs), share allotments/transfers, and certain resolutions.

We handle the filings and keep your statutory registers up to date.

Yes, we can host your registered office and service address to protect privacy and ensure official correspondence is handled promptly.

MTD for VAT is already mandatory for all VAT‑registered businesses – keep digital records and submit via MTD‑compatible software.

MTD for Income Tax (MTD ITSA) will apply to self‑employed individuals and landlords with business/property income over £50,000 from April 2026, and £30,000–£50,000 from April 2027. We’ll help you prepare, choose software, and implement processes.

Quarterly updates, end‑of‑period statements (EOPS), and a final declaration via software.

Good bookkeeping is essential – we can maintain this for you or train your team.

Residential property disposals (not your main home where relief applies) must usually be reported and any CGT paid within 60 days of completion.

Other gains are reported via Self Assessment by the normal deadlines. We’ll calculate the gain, apply available reliefs (e.g., Business Asset Disposal Relief, where eligible), and handle submissions.

Yes, Xero, QuickBooks Online, Sage, and industry add‑ons (e.g., Dext, AutoEntry, Fathom) for capture, automation, and reporting.
We can implement, migrate, train, and support your team.

Absolutely. We produce monthly/quarterly management packs, cash‑flow forecasts, scenario modelling, and KPI dashboards to support decision‑making and funding applications.

Use bank feeds and receipt capture apps; keep a separate business bank account; reconcile weekly and review month‑end; maintain clear expense policies and approval workflows.

We can fully outsource this or set you up with efficient processes.

It depends on profit level, risk, commercial perception, and personal circumstances.

Companies can offer limited liability and tax planning opportunities, while sole traders are simpler. We’ll model both scenarios for you.

Register as an employer with HMRC, set up PAYE/RTI, consider auto‑enrolment pensions, issue contracts, and comply with holiday/sick pay and statutory requirements.

We’ll set it all up.