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Frequently Asked Questions
The Hughes Consultancy offers its clients and potential clients personalised answers to questions concerning their business, accounts, compliance, and anything related to business and finance. Please fill out the form or call us.
Q 1: Is it easy to change accountant?
A: Yes, it is very straightforward to change accountant. We ask you to sign a mandate and then we look after moving you over to our systems. Your security is ensured.
Q 2: Is it worth hiring an accountant for a business that turns over very little at present, but which we hope will grow in the future?
A: Definitely, yes, THC can guide you through growing your business, help you to reduce overheads, and plan for staffing; assist you with a business plan to attract funding, and much, much more.
Q 3: Are accountancy fees tax deductable?
A: Yes, accountant’s fees are tax deductable. In addition, the chances are that a good, qualified accountant will save you more in tax than they charge in fees.
Q 4: Can I pay monthly?
A: Yes, you can pay The Hughes Consultancy monthly by direct debit.
Q 5: Can you look after my bookkeeping?
A: Yes, we can certainly do all your bookkeeping for you, but we advise our clients to update their own books once a month if possible as this means the business has more control: knowledge is power!
Q 6: Can you manage my payroll?
A: Yes, THC can manage payroll for you, filing RTI with HMRC, answering queries, and generating pay slips. We can even advise you on administering workplace pensions, which you must provide if you employ even one person.
Q 7: Can you assist me in setting up a business; can I use THC as my registered office address (ROA)?
A: Yes, we can help you set up a business from start to finish: choosing a company name, ensuring it is suitable, and registering it with Companies House; we can act as company secretary and act as your ROA. THC can even help you with your business plan if you want to raise finance. Then, once set up, we will help you grow; your success is important to us.
Q 8: Can you help me set up a charity?
A: Yes, THC can advise you from the start: a charity is defined by the Charity Commission as an organisation set up to benefit a charitable purpose; a charity’s goals must be completely altruistic and its management and structure must be up to scrutiny from the time it’s formed.
Q 9: Can you help me apply for seed funding?
A: Definitely, yes, THC has helped many businesses successfully apply for the Seed Enterprise Investment Scheme (SEIS) and the Enterprise Investment Scheme (EIS). These government schemes to bolster innovation are a great way to gain advantage through tax relief, but your business must meet a number of requirements and be a qualifying trade. Contact us to find out more.
Q 10: Can you help me wind up my business?
A: THC can help you close, sell, or wind up your business. There are many reasons for doing so, and you should seek expert advice before you start the process. It depends whether the business is in trouble or solvent, how you want to dispose of assets, whether you want to sell it on, or whether you intend striking it off the Companies Register, so please call us to discuss further.
Next Step:
Please contact us if you need further advice or have any questions about our services. Feel free to browse our Tax Centre, Business Centre, and Tax Tips and News for instant information and guidance.
Chartered Accountants in Richmond, Surrey, The Hughes Consultancy provides a wide range of business, tax, financial planning and business growth services. All of our clients benefit from competitive pricing, our expertise, and unlimited support. Contact us today to learn how we can support you.