Frequently Asked Questions

If you're self-employed, a limited company director, a landlord, or you have income outside of PAYE employment, an accountant will almost certainly save you more than they cost. Beyond filing returns, a good accountant keeps you compliant, minimises your tax bill legally, and gives you confidence that your finances are being handled properly.

The call is a relaxed 15-minute conversation — no pressure, no jargon. We'll ask about your business or personal tax situation, explain what we'd do for you, and give you a fixed fee on the call. You leave knowing exactly what you'd pay and what you'd get.

Usually within a week or two of the discovery call. Once you're happy to proceed, we send an engagement letter, get your information from your previous accountant (if applicable), and set you up on Xero or FreeAgent. The process is straightforward and we'll guide you through every step.

For most clients we need: a form of ID, your UTR (Unique Taxpayer Reference) if you have one, your Companies House number if you have a limited company, and access to your previous accounts or tax returns. We'll send you a clear checklist once you've signed up.

Not at all. Many of our clients come to us as their first accountant, often when they've just gone self-employed or set up a company. We'll explain everything clearly and get you set up from scratch.

Pricing depends on your business type. Limited company accounts start from £40 per month (Micro tier), with tiers up to Professional for growing companies. Sole Trader and Partnership packages also run monthly. Self Assessment for individuals is a single £170/year fixed fee. Charities have their own tier structure starting at £50/month. We'll confirm your exact fixed fee on the free discovery call — see /pricing for the full breakdown across all five business types.

Yes. Your monthly tier fee covers everything defined in your engagement letter — preparation and filing of your accounts and returns, software, and day-to-day queries by email or phone. Add-ons from our Customise menu are clearly priced upfront — never automatic, never hidden. For strategic work beyond that scope — tax planning, restructuring, or a dedicated conversation with your accountant — you can book a paid advisory session directly in our calendar, with session lengths and prices shown at the time of booking.

Yes — book a paid advisory session directly in our calendar. Session lengths and prices are shown at the time of booking, and payment is taken online. Ideal for tax-planning reviews, strategic questions, or dedicated time with your accountant. Pick a slot that works for you and we'll meet.

Our published prices exclude VAT. VAT at the standard rate is added to all invoices where applicable.

Your fee has two parts: a tier fee for your business type (Limited Company, Sole Trader, Partnership, Charity, or Self-Assessment) and any optional add-ons you choose from the Customise menu — registered office, additional Self Assessment returns, P11D forms, and so on. Tiers reflect your turnover and the complexity of your work; add-ons can be monthly, yearly, or one-off. Everything is agreed and fixed before we start, with a full breakdown on your engagement letter.

Yes. Tiers can be upgraded or downgraded at any time — most clients review their tier at the annual meeting as their business changes. You can also add or remove individual Customise add-ons month-to-month without touching your tier.

Yes — most ongoing extras live in the Customise menu on the pricing page (monthly, yearly, or one-off charges, all clearly priced). Tick what you need and we'll revise your engagement letter to match. If your business changes more fundamentally — for example you upgrade tier as you grow, or you need something bespoke like ongoing bookkeeping or a fractional CFO — we'll scope it together. For one-off strategic conversations you can also book a paid advisory session directly in our calendar.

Yes, and it's more straightforward than most people expect. We handle the professional clearance process on your behalf — we write to your current accountant, request your records, and manage the handover. You don't need to have an awkward conversation with anyone.

In practice, very little. The handover happens in the background. Deadlines are monitored throughout the transition, and we'll flag anything that needs attention before we officially take over.

Mid-year switches are common and entirely manageable. We'll pick up from wherever your previous accountant left off. Your year-end accounts and tax returns will be filed on time regardless of when you switch.

We take care of it. As part of onboarding we submit a new agent authorisation (form 64-8) with HMRC, which automatically replaces your previous accountant's access. You don't need to contact HMRC yourself or separately remove your old accountant — one new authorisation covers it.

We're Xero and FreeAgent gold partners and work with both platforms. Both are MTD-compliant and give you real-time visibility of your finances. FreeAgent is free if you bank with Mettle, Tide, or NatWest; otherwise both are bundled at provider rates. If you're not yet on cloud software, we'll help you get set up as part of onboarding.

Yes. We handle payroll runs, RTI submissions to HMRC, auto-enrolment pension contributions, and P11D reporting for benefits in kind. Standalone payroll starts at £25 per month for two employees (covering payslips, pension administration, and payment runs). Use the payroll calculator on our Payroll service page for an instant estimate based on your headcount. Payroll for up to 2 employees is also bundled into our Essentials tiers (Limited Company, Sole Trader, and Partnership).

Yes. We offer company formation including same-day incorporation, registration for Corporation Tax, PAYE, and VAT (where needed), and setup on accounting software. All for a fixed one-off fee of £150.

Making Tax Digital (MTD) is the government's programme to move tax records and submissions online. MTD for VAT is already in force. MTD for Income Tax is being phased in for self-employed individuals and landlords: from April 2026 for those with gross income over £50,000, from April 2027 for those over £30,000, and from April 2028 for those over £20,000. Once you're in scope, you'll need quarterly digital submissions on MTD-compatible software. We'll keep you ahead of each deadline and make sure you're compliant.

Yes. If you sell a UK residential property you must report and pay any Capital Gains Tax within 60 days of completion. We prepare the CGT calculation and submit the return to HMRC on your behalf. We also handle CGT on the disposal of shares and other assets in the annual self-assessment return.

The main ones: Self Assessment tax returns must be filed online by 31 January following the end of the tax year, with any tax owed paid by the same date. Corporation tax is due nine months and one day after your company's financial year end, and the CT600 return must be filed within twelve months. VAT returns are due quarterly — usually one month and seven days after the end of each VAT period. Your Companies House confirmation statement is due annually, and annual accounts must be filed within nine months of your year end. We track all of these for you and make sure nothing is missed.

You can claim costs that are wholly and exclusively for business purposes. Common allowable expenses include office rent and utilities, business insurance, software subscriptions, staff wages, travel and mileage for business journeys, phone and internet costs, professional subscriptions, and accountancy fees. If you work from home, you can claim a proportion of household costs. The specifics depend on your business type and structure — we'll make sure you're claiming everything you're entitled to without overstepping.

It depends on your income, plans, and personal circumstances. As a sole trader you pay income tax and Class 2/4 National Insurance on your profits, and setup is simple. A limited company pays corporation tax on profits and you can take income as a mix of salary and dividends, which is often more tax-efficient once profits exceed roughly £30,000–£40,000. However, a limited company has more admin — annual accounts, confirmation statements, and stricter record-keeping. Try our incorporation calculator for an instant tax comparison based on your numbers — and we'll review the result with you on a discovery call before recommending the right structure.

You must register for VAT if your taxable turnover exceeds £90,000 in any rolling twelve-month period. You can also register voluntarily below this threshold, which lets you reclaim VAT on business purchases and can look more credible to B2B clients. Once registered, you'll need to file quarterly VAT returns using MTD-compliant software — we handle all of this for you.

Most directors take a combination of a small salary (typically set at the personal allowance or the secondary NI threshold) and dividends from company profits. This is usually the most tax-efficient approach. Dividends can only be paid when the company has sufficient retained profits. We'll advise on the right salary-and-dividend split for your situation as part of your year-end planning.

HMRC requires you to keep business records for at least six years. This includes sales and purchase invoices, bank statements, receipts for expenses, VAT records if registered, payroll records, and mileage logs. For limited companies, Companies House requires you to keep accounting records for six years from the end of the financial year they relate to. Cloud accounting software like Xero or FreeAgent makes this straightforward — most of it is captured automatically.

Yes. While we have offices in Aberdeen and Shetland, we work with clients across the UK. All our services can be delivered fully remotely — video calls, secure document sharing, and cloud software mean location is never a barrier.

By email or phone — whatever suits you. You'll have a named accountant as your primary contact, not a call centre. For routine queries, we aim to respond within one working day.

All documents are shared through secure, encrypted channels — either through your accounting software or via a secure client portal. We never ask you to send sensitive information by unencrypted email.

Yes. Thyme Accountants is a regulated accountancy practice. Our directors are Fellow Chartered Certified Accountants (FCCA) and Chartered Accountants (ICAS), bound by professional standards on ethics, confidentiality, and continuing professional development.