FAQ - Engaging an Accountant
Simplifying the process
do you have questions about seeking assistance?
Frequently Asked Questions
I operate fixed-fees, so you know in advance how much it will cost. The fees are clearly shown on the individual package pages.
It is straightforward – I have set out the tax return process in four steps, to make things easy to understand.
As well as qualifications, experience in helping businesses like yours is important.
When I founded my own practice in 2006, I had already spent 17 years building up my experience. I’ve run the tax department for a Surrey accountancy firm, and also worked with a big four firm over the years.
Since founding taxhelp.uk.com I have specialised in helping one person businesses.
Anyone can call themselves an “accountant”, even if they are not qualified.
I am dual qualified in tax and accounts. I’m also registered in practice with, and a fellow of, the ATT. The ATT is the oldest and largest professional body for UK tax compliance.
It is important to look for recognised qualifications when selecting an accountant.
Definitely – it is always much better to come forward to HMRC if you are behind than hope they miss you.
Penalties for not declaring income are much higher if you have not come forward on your own.
I have helped people who were several years behind get up to date in a matter of weeks. This also removes all the worry of not knowing what their liabilities could be.
Yes, it is also straightforward – please do visit the engagement page to see how we would start working together.
The only extra steps would be for you to inform your previous accountant of the change. I would then request professional clearance to obtain any relevant transfer information.
Many small business owners make the mistake of trying to do everything themselves. Unfortunately, this could cost them significant time and money.
People usually underestimate the amount of time it will take… That time would be much better spent working on the business rather than in it.
Accountancy fees qualify for tax relief in the accounts, in effect reducing the cost to you.
With the regular changes in the tax regulations, they may also miss out on allowances and reliefs. Or could even claim deductions that are no longer available…
As a result, they could end up paying more tax by trying to do things themselves
Unfortunately, there can sometimes be confusion between a quote and an estimate.
My fees are actual fixed-fees rather than an estimate. My fees shown are also the actual total you pay.
Many practitioners quote their fees excluding VAT. This could mean a nasty surprise if you had not realised this.
I specialise in helping small businesses who operate below the VAT registration limit. For them VAT added onto fees would mean an extra 20% cost to their business, that they were not expecting.
The Four Step Tax Engagement Process:
1 – Setup
Choosing a fixed-fee package to provide the support level you need. ID verification and HMRC authorization.
2 – Preparation
Preparation of the tax return and accounts according to the fixed-fee package level chosen.
3 – Agreement
Providing you with the tax return and clear computations setting out your liability. Explaining and agreeing these.
4 – Ongoing
Answering queries during the year. Reminding you of upcoming deadlines. Keeping you updated on tax changes.
Benefits of seeking professional assistance:
Making sure that you are claiming for all allowances that you are entitled to…
…and not claiming for anything that you shouldn’t be
Freeing up time for you to spend on other things
Avoiding nasty surprises for unexpected tax bills
Being able to easily ask questions throughout the year without having to wait on the telephone for a long time trying to get through
Planning for upcoming changes in tax rules well in advance
Detailed process steps to engage an accountant:
The process to either engage or change an accountant is straightforward:
1) We discuss your requirements and how I can help you, usually over email.
2) You choose one of the fixed-fee packages suitable to meet your requirements
3) To open the file I need details from you to verify your ID, as you would provide when opening a bank account for example. I then send you an engagement letter to sign. This sets out how we work together and the provision of information/etc.
4) I request HMRC authorisation to access details of your tax records. This is usually via a code they post to you for forwarding on to me. (If you are not registered with HMRC and don’t already have a UTR number then we would request this first.)
5) I prepare the tax return and accounts, agree these with you and submit them to HMRC. I provide you with an easy to read tax computation and explanation of the payments and due dates.
6) I keep you updated about upcoming deadlines well in advance, so you can relax. You can also contact me throughout the year with any general tax queries you have. There is no need to worry about extra costs as queries are all included within the fixed-fee.
If you already have an accountant the only extra step would be for you to inform them of the change. I would then request professional clearance from them to transfer any relevant information across.
How long does the process take?
The whole process usually takes only a few short weeks, and we can start working straightaway.
This can be most reassuring for people who have been worrying about their tax position for some time.
Contact me to find out how easy the process can Be
There is no charge for the initial consultation
