FAQs

Our Frequently Asked Questions

I am self-employed, my friend told me I can pay tax on this of 10.75% as a dividend through a company. Is that true?

  • Yes and no
  • Although it sounds like a tempting offer, you’re not being told the whole truth and we are at hand as your tax accountants to explain this in more detail. 
  • You can incorporate into a limited company and any excess profits after tax can be distributed as dividends which may be taxed at 10.75% within the basic rate band (after the £500 dividend allowance) for 2026/27, depending on your level of income.

     

    How can Everyday Accountants help?

    We will sit down and understand your expected future profits, compare the benefits of incorporation vs sole trade and explain the changes you need to make to remain compliant.

I want to start a new business. What structure and approach should I take?

  • It depends on many factors and what is important to you.
  • Are you looking to minimise costs?
  • Minimise tax on potential income/profits?
  • Do you want flexibility when being taxed on your profits?
  • Does having your financial information public bother you?

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How can Everyday Accountants help?

We offer a free consultation to hear your situation and determine how we can help your business by choosing a structure that suits your preferences. Let us become your local accountants.

Do I need to register for VAT?

  • You must register if your VAT taxable turnover goes over £90,000 in any rolling 12 months (register within 30 days of the end of the month you went over), or if you expect it to go over £90,000 in the next 30 days alone (register by the end of that 30-day period).
  • You may want to voluntarily register for VAT if your services are zero-rated or you’re worried about exceeding the registration threshold to avoid penalties.

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How can Everyday Accountants help?

As tax accountants, we aim to understand your business and look to plan effectively and efficiently with any VAT matters.

Can I outsource bookkeeping services to you?

  • Once your business has grown to a certain level, you can’t do everything. You need a trusted business accountant that can support your growth and help implement the right structure so you can concentrate on the business operations.
  • We are expert management accountants whilst also keeping your costs as low as possible. 

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How can Everyday Accountants help?

As business accountants, we will review your processes and systems to enhance the data accuracy and speed allowing you to make informed key decisions.

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