Certified Accountant FAQs — Manchester & UK
Clear answers to the most-searched UK accounting questions — Self Assessment, VAT/MTD, payroll, company accounts, landlords, crypto tax and more. Based in Manchester, serving clients nationwide.
How to use this page
Each answer links to the relevant service page if you’d like help. We keep this FAQ current with the latest HMRC rules — but always check your specific situation.
Self Assessment (SA100) — FAQs
Do I need to file a Self Assessment tax return?
You must file if HMRC issues a notice to file, or if you had untaxed income (self-employment, property, dividends above the allowance, capital gains including crypto, or HICBC). Get Self Assessment help.
What are the key Self Assessment deadlines?
Register by 5 October after the tax year; paper return by 31 Oct; online return & balancing payment by 31 Jan; payments on account due 31 Jan & 31 Jul.
Can I claim expenses without receipts?
You should keep evidence. Some flat-rate allowances exist, but best practice is digital records (e.g., Xero + receipt capture). We can reconstruct where possible.
How do payments on account work?
If your last liability (after PAYE/credits) exceeds the threshold, HMRC asks for two advance payments (31 Jan/31 Jul) towards the next year. A balancing figure is due the following 31 Jan.
What happens if I file or pay late?
Late filing triggers automatic penalties and daily charges; late payment adds interest and potential surcharges. Contact us early to minimise exposure.
VAT & Making Tax Digital — FAQs
When must I register for VAT?
Register when your rolling 12-month taxable turnover exceeds the VAT threshold, or if you will exceed it in the next 30 days. Voluntary registration can help in some cases. VAT & MTD service.
Which VAT scheme should I choose (Standard, Cash, Flat Rate)?
It depends on margins, input VAT and admin. Cash accounting aids cash-flow; Flat Rate simplifies reporting for low-input-VAT businesses. We’ll model options for you.
What records do I need for MTD for VAT?
Digital records in compatible software and digital links from source to submission. Spreadsheets must use bridging with digital links—no copy/paste.
Can I claim pre-registration VAT?
Yes—goods up to 4 years and services up to 6 months before registration if they relate to the business and are still used. Keep invoices and evidence.
What is Postponed VAT Accounting (PVA)?
PVA lets you declare and reclaim import VAT on the same VAT return using the online monthly statement, improving cash-flow for imports.
Payroll & Pensions — FAQs
What is RTI and why does it matter?
Real Time Information requires submissions on or before payday. Late filings risk penalties and compliance checks. Our payroll service.
Do directors have different payroll rules?
Yes—directors use an annual NI method and salary/dividend planning needs care. We set a compliant, efficient pay plan.
Do I need a workplace pension?
Most employers must auto-enrol eligible staff and pay minimum contributions, send statutory letters and file a Declaration of Compliance.
Can I pay myself only dividends and no salary?
Dividends require company profits and do not count for NI or some benefits. A small salary is usually recommended for efficiency and records.
What information do you need to set up payroll?
Company PAYE refs, pay frequencies, employee starter details (P45/P46), contracts, pension scheme data and any benefits/deductions.
Limited Company, Accounts & CT600 — FAQs
What are my year-end deadlines?
Accounts to Companies House: usually 9 months after year-end. CT600 to HMRC: 12 months after year-end. Corporation tax due 9 months + 1 day after year-end. Company accounts & CT600 help.
Can I change my accounting year end?
Yes, within Companies House limits on shortening/lengthening. We’ll assess cash-flow and tax impact before filing the ARD change.
What is a confirmation statement?
Annual CS01 confirming directors, shareholders, PSCs, shares and SIC codes. It is separate from accounts. Secretarial support.
What’s the difference between micro-entity and small company accounts?
Micro-entity has simpler disclosures but tighter eligibility (size thresholds). Small company has fuller notes. We’ll choose the right framework.
How should I pay myself as a director?
Commonly a modest salary within NI bands plus dividends from profits, but the optimal mix depends on profits and personal income.
Landlords & Property — FAQs
How are mortgage interest and finance costs treated?
Individuals receive a basic-rate tax credit rather than a full deduction; companies usually deduct interest (subject to rules and limits).
Do I need to report rental income if it’s small?
Yes if it exceeds allowances or HMRC requires a return. Even below thresholds, disclosure may be needed. Landlord tax help.
What expenses are allowable?
Repairs & maintenance (not capital improvements), landlord insurance, agent fees, interest (as above), utilities you pay, mileage to properties and a fair share of mixed-use costs.
What is Rent-a-Room and does it apply to me?
Rent-a-Room lets individuals earn up to a set allowance tax-free by letting furnished accommodation in their main residence. Opt in or out depending on expenses.
How is Capital Gains Tax calculated when I sell?
CGT is charged on the gain after allowable costs/reliefs (e.g., PRR). Residential rates and reporting deadlines apply; companies pay CT instead.
Crypto Tax (trading, staking, NFTs) — FAQs
Is crypto taxed as capital gains or income?
Most disposals are CGT; some activities (staking, mining, airdrops for services) are income first. Treatment can vary by facts.
Do I pay tax when I swap one token for another?
Yes—a token-to-token swap is a disposal for UK CGT and needs GBP valuation at the time of the swap. Crypto tax service.
What records do I need for crypto tax?
Dates, amounts, wallets/exchanges, GBP values, fees and the purpose (trade, stake, NFT, etc.). We can import and reconcile from major platforms.
How are staking/yield rewards taxed?
Generally income at fair value on receipt; later disposals may create CGT. We separate income and capital events correctly.
Can HMRC see my exchange data?
HMRC receives data from UK and overseas platforms and can issue information notices. Accurate records and disclosures are essential.
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