FAQ's for New & Existing Businesses in Norfolk
Below you will find some of the most freqently asked questions we are asked by our clients. If you do not see an answer to what you are looking for just call us for FREE on 0800 0235 942 or send us an enquiry via our contact us page.
Why is an accountant important for my business?
Why do you call a plumber? They are professionals and you trust them to give ensure your boiler is installed properly and works. Running a business is the same, you need an accountant to help advise and support through the year allowing you to focus on your business goals.
What type of business should I set up?
This mainly depends on the size and expected turnover of the business. Our business start-up page gives you a breakdown of the main different types. We also offer a FREE initial consultation (up to 30 minutes) for all new business start-up's.
I already have an accountant. Can you take over my accounts?
Yes we can, if you are happy with the services we are proposing we can advise the best way how to switch from your current accountant to us.
How much do I have to make before having to register for VAT?
Registering for VAT only applies to companies that have a business turnover of over £81,000 in a rolling twelve month period of trading. You would need to keep checking on a monthly basis to see if you are crossing the limit, if so you would have 30 days to register for VAT.
VAT inputs and outputs...What are they?
If you charge VAT on services or goods your sell this is classed as Output VAT. If you are charged VAT on services or goods you buy or purchase this is classed as Input VAT.
When should my tax returns be filed by?
H.M. Revenues and Customs issues your tax return paperwork to you in April and if you are completing form manually and sending them back they should be completed by the 31st October the same year. If you are using the online service you have until the 31st January the following year.
Why should I use Taylor Minns?
We have over 30 years experience within the accountancy industry, you can trust us to provide you with a first class accountancy service at all times.