Local answers

Small business accounting FAQ for London and Surrey

The questions we are asked most often by directors in London, Morden, Croydon and Surrey, answered plainly. Fixed fees from £89 plus VAT a month, and basic tax advice on the first call is free.

Questions small business owners ask

How much does a small business accountant cost in London?

Our fixed monthly packages are £89 plus VAT for a dormant or very small company, £169 plus VAT for a trading company with bookkeeping and VAT, and £289 plus VAT where payroll, pensions and management reporting are included. The price is agreed in writing before any work starts, so there are no hourly surprises.

Do I need an accountant for a small limited company?

There is no legal requirement, but a limited company must file annual accounts at Companies House, a CT600 corporation tax return with HMRC, a confirmation statement, and usually VAT and payroll returns. Most directors use an accountant because the penalties for late or wrong filings cost far more than the fee.

When are my company filing deadlines?

Annual accounts are due at Companies House nine months after your year end, corporation tax is payable nine months and one day after the year end, and the CT600 is due twelve months after the period end. Self Assessment for directors is due by 31 January after the tax year.

When does my small business have to register for VAT?

You must register once VAT taxable turnover passes £90,000 in any rolling twelve month period, or if you expect to pass it in the next thirty days. You can register voluntarily below that if most of your customers are VAT registered businesses.

What is the best salary and dividend mix for a director?

Most single director companies take a salary at or near the National Insurance thresholds and draw the rest as dividends, as long as the company has distributable profits. The right split depends on other income, pension contributions and whether the company claims the Employment Allowance, so we run the numbers for your position.

Can I switch accountants part way through the year?

Yes, and you do not need to wait for a year end. We write for professional clearance, collect the records, take over the HMRC and Companies House agent authorisations and pick up from where your old accountant stopped. There is no charge for the handover.

Do you offer free tax advice?

Basic tax advice is free on the first call, and quick questions from clients are included in the monthly fee. Anything technical, such as a detailed planning report, a valuation or an HMRC disclosure, is quoted before we begin.

Which bookkeeping software do you use?

We are a Xero Partner and also work with QuickBooks and FreeAgent. If you are on spreadsheets we can keep it that way for a very small company, or move you onto cloud software so VAT returns meet Making Tax Digital rules.

What expenses can my limited company claim?

Costs incurred wholly and exclusively for the business: salaries, subcontractors, software, professional fees, business travel, use of home under the agreed rates, equipment, business insurance and pension contributions. Personal costs put through the company create a benefit in kind or a director's loan.

What happens if I file my accounts late?

Companies House charges £150 for up to one month late, rising to £1,500 at over six months, and doubles the penalty if you were late the previous year too. HMRC adds its own penalties for a late CT600 and charges interest on unpaid corporation tax.

Do you handle payroll and workplace pensions?

Yes. We run monthly payroll, submit RTI to HMRC, produce payslips, handle starters and leavers, and manage auto enrolment pension submissions and re-enrolment duties.

Can you help if HMRC opens an enquiry or I have undeclared income?

Yes. We handle HMRC enquiries, Let Property Campaign disclosures and worldwide disclosure of overseas income. Coming forward voluntarily almost always reduces the penalty compared with HMRC finding it first.

Do I have to visit your office?

No. Most clients work with us entirely by email, phone, video call and cloud bookkeeping. If you prefer to meet, our head office is at 12 London Road, Morden, London SM4 5BQ, open Monday to Friday, 9:00am to 5:30pm, by appointment only.

Which areas do you cover?

We act for companies right across London, Morden, Croydon, Surrey and the surrounding boroughs, and for clients anywhere in the UK online. Filing obligations are the same wherever your company is registered.

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Four London offices

Meet us in Morden, Croydon, Chelsea or Mitcham

Work with us entirely online, or sit down with your accountant at whichever office suits you. Open Monday to Friday, 9:00am to 5:30pm. Office visits are by appointment only, so please book before coming in.

Morden, Surrey12 London Road, Morden, SM4 5BQHead office, two minutes from Morden Underground station.DirectionsRead ACCOTAX Google reviews
Croydon73 Park Lane, Croydon, CR0 1JGCentral Croydon, minutes from East Croydon station.DirectionsRead Croydon Google reviews
ChelseaM-112, 65-69 Lots Road, SW10 0RNWest London base for Chelsea, Fulham and Kensington clients.DirectionsRead ACCOTAX Google reviews
Mitcham141 Morden Road, CR4 4DGServing Mitcham, Tooting and the CR4 postcodes.DirectionsRead Mitcham Google reviews

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Pick a time that suits you and a qualified accountant will call you about your company, deadlines and fees.

Appointments run monday to friday, 9:00am to 5:30pm. Your confirmation is emailed straight away.

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