FAQ's - JRC Accounts

Small Business Accounting & Tax FAQs

Here are some of the most common questions we’re asked by clients in Witham, Hatfield Peverel, Great Totham, Maldon, and the surrounding Essex area.

Frequently Asked Questions

Q. I need to form a Limited Company. How do I do that?

A. We can take care of everything for you. Setting up a limited company involves forms and legal requirements that can be time-consuming if you’re not familiar with the process. For a fixed fee, we’ll handle the company formation, complete all documentation, and register your business with Companies House and HMRC — all we need are a few details from you.

Q. I own a rental property but don’t make a profit after paying the mortgage. Do I still need to declare it?

A. Yes. Even if your rental property doesn’t generate a profit, you are still required to declare the income to HMRC through a self-assessment tax return. We can guide you through the process and ensure everything is reported correctly.

Q. How much do you charge to prepare accounts?

A. Our fees depend on factors such as whether you are a sole trader, partnership, or limited company, how well your records are maintained, and the complexity of your transactions. We’re happy to provide a clear, no-obligation quote tailored to your business. You can also book a FREE 30-minute consultation.

Q. Can I use your address as my registered office?

A. Yes — you can use our office as your registered address. This ensures that all official correspondence from Companies House and HMRC is sent directly to us, helping you stay organised. We offer this service at no extra cost.

Q. What is Making Tax Digital (MTD) and does it affect me?

A. Making Tax Digital (MTD) is HMRC’s initiative requiring businesses to keep digital records and submit tax returns using approved software. Many VAT-registered businesses must already comply, and further changes are being introduced. We help businesses in Witham and Hatfield Peverel and surrounding areas become fully MTD-compliant.

Q. What accounting software do you support?

A. We work with leading cloud accounting software including Xero, Sage, and QuickBooks, as well as spreadsheets. We can recommend the best solution for your business and provide ongoing support and training.

Q. Do you offer help with Capital Gains Tax?

A. Yes — we provide expert advice on Capital Gains Tax, including the sale of property and investments. We ensure deadlines are met and help identify ways to reduce your tax liability.

Q. Can you help me reduce my tax bill?

A. Absolutely. We specialise in providing simple and effective tax efficiency ideas for both individuals and businesses, helping you minimise your tax while staying fully compliant with HMRC rules.

Q. Do you handle VAT, Payroll, and CIS?

A. Yes — we provide a complete service covering VAT returns, payroll, and CIS. We ensure everything is accurate, compliant, and submitted on time.

Q. Do I need an accountant as a small business or sole trader?

A. While not legally required, having an accountant can save you time, reduce stress, and help you avoid costly mistakes. We also help identify tax-saving opportunities and ensure you meet all deadlines.

Q. Do you offer a free consultation?

A. Yes — we offer a free, no-obligation initial meeting for businesses and individuals in Great Totham, Witham, Hatfield Peverel, and the surrounding Essex area.

Q. Do you offer home visits for clients?

A. Yes — we are happy to offer local home or business visits for clients in Great Totham, Witham, Hatfield Peverel and the surrounding Essex areas where it is more convenient. We understand that not everyone can travel easily, so we aim to provide a flexible and personal service that works for you.

Accounting and Tax Services You Can Trust

Discover our comprehensive accounting and tax solutions tailored for small businesses and sole traders, ensuring accuracy and peace of mind.

Business Accounts

We prepare detailed accounts that meet compliance standards and help you understand your financial position clearly.

Tax Planning

Custom tax strategies designed to minimize liabilities and maximize your business growth potential.

Digital Solutions

Implementing user-friendly digital accounting and tax tools to streamline your bookkeeping and reporting processes.

FAQ’s