FAQs

GENERAL

Why do I need an Accountant ?
  1. To help you save tax and enhance your financial wealth.
  2. To help you fulfil your statutory obligations.
  3. To become a business partner in helping you sustain and grow your operation, whatever it may be.

Do I need to be local to you?

Not at all, we find it’s easy to handle our client’s business via telephone, email , post and the online accounting software. In addition our standard office hours are; 9am to 5pm.


How long does it take to get started?

You get immediate access to our online app once you’ve signed up. Once your Limited Company is set up, you will need to set up a Business Bank Account which we can help you with.

MAKES SENSE

How to Sign for one of your packages?

The process is relatively simple. If you have decided what package or service we will send you a registration which you complete and sign online. (No need to print, sign and scan).


How do I pay for your services?

Setup fees for incorporating your company, registration for PAYE & VAT are paid for upfront. Monthly service fee are paid monthly by direct debit.


What if I sign up you mid way through the accounting year?

Our pay monthly package deals are applicable from the 1st month of your accounting period. So for example, if you’re accounting period started on the 1st May 2015 and you sign up to us in October 2015, our charges will be retrospectively applied back to May 2015 and a catch up payment requested.

This is because your accounts need to be drawn up for the full year and items such as payroll need to be computed and completed on a monthly basis.


What if I’m switching from another firm of Accountants?

If you are switching from another firm of accountants and your records are fully up to date (i.e. you have full payroll records, VAT and bookkeeping all in order) then we would be willing to waive the catch up payment and act for you going forward.
All this can be ascertained at your free initial consultation.


What if I decide to stop using Makes Sense?

If you decide to discontinue using us for any reason, you can cancel at any time. There are no exit fees or penalties.

LIMITED COMPANIES

What if I only want to set up a limited company? How long does this take?

As long as you have decided upon the name of your company we can set this up quickly. Full payment is taken upfront and once your company has been created we will send you all the relevant documents (Articles of Association, Memorandum and Certificate of Incorporation) via email or post.


What can I call my Limited Company?

Pretty much anything within reason. There are a number of words which are not allowed (E.g. Royal), and it must not be deemed as offensive. It can also not be similar to an existing Limited Company. If you are a contractor we advise calling it something relating to the industry you work in.


How long does it take to set up my Limited Company?

This usually takes 4 hours to complete an incorporate a business, but this is dependent on the time of day you complete the process. Companies House are open for incorporations from 9am and 5pm Weekdays.


What is Companies House?

Companies House is the legal Registrar of all UK Limited Companies. When you register your company, Companies House will allocate you a Company Number. As a Limited Company Director, you are obliged to keep Companies House us to date each year with annual returns and accounts filing.


What are my obligations when I set up a Limited Company?

Your obligations to HMRC include Corporation Tax and quarterly VAT returns. You will need to file an annual return to Companies House, in addition to supplying your accounts, which are then available for public inspection.