Frequently Asked Question (FAQs)
What does an accountant do for a small business?
Keeps records accurate, prepares year-end accounts, files tax returns and VAT, runs payroll and advises on tax.
Do I need an accountant for my limited company?
Not a legal requirement, but accounts, corporation tax and Companies House filings have strict deadlines and penalties.
How much does an accountant cost in London?
Depends on your turnover, number of transactions and services. Give a “from £X” range or offer a free quote.
What is the difference between bookkeeping and accounting?
Bookkeeping records day-to-day transactions. Accounting uses those records to prepare accounts, tax returns and advice.
When is the Self Assessment deadline?
Online returns are due by 31 January after the tax year ends. Late filing means penalties.
When must I register for VAT?
Once taxable turnover passes the current registration threshold. Link to GOV.UK for the figure.
What is Making Tax Digital for VAT?
VAT-registered businesses keep digital records and submit returns through compatible software.
When do I file company accounts and pay corporation tax?
Accounts generally go to Companies House within 9 months of your year end. Corporation tax payment has a separate deadline, so check GOV.UK.
What should I do if I get a letter from HMRC?
Don’t ignore it. Note the response deadline and contact us, and we can reply on your behalf.
How do I switch to ZB Accountants from my current accountant?
Tell us who your current accountant is and we handle the handover and collect your records.