Frequently Asked Questions

FAQ Accountancy at Clear Cut Accounts Accounting and Bookkeeping WimbornePlease find below the questions we are most often asked.

If you have any other questions, either specifically about Clear Cut Accounts, or a general accounts question, please Contact Us.

Everyone has to start somewhere, so whether your question is basic or complex, we will be happy to answer it.

If you are totally new to running a business or accounts and there are terms you just don't understand, please look at our Jargon Buster.

I am starting a Business and I don't know what to do. Can you help?

When starting a new business there are lots of things that you can do or should consider. Firstly you must decide on a business structure - Sole Trader, Partnership, LLP, Charity or Limited Company. Please see our related pages for information on these business types, the records you must keep and returns you must file for each.

Once you have decided on a structure there are many other areas that you must consider before you launch yourself. Most importantly, you should put together some kind of business plan so that you can make sure that you have a sound business idea before you spend any money or give up your day job. These plans do not have to be complex, but can be incredibly helpful in focussing you mind on what kind of business you want to start, and why you want to start it.

I already have an accounting or bookkeeping firm. How do I change?

Changing your bookkeeper or accountant is easy. All you need to do is notify your current company that you wish to change, and give them our details. We will do the rest! We will contact them and ask them to handover to us specific information that we need to do your books. Most companies that are supported by a professional body are more than happy to cooperate and the handover can usually occur quickly and smoothly.

Should I pick a qualified accountant from a professional body to do my accounts? What's the difference?

There are a number of highly respected accounting bodies in the UK, who have members with a range of accounting qualifications. Clear Cut Accounts have two partners - a bookkeeper, and an accountant who works under the CIMA (Chartered Institute of Management Accountants) Member in Practice programme. This means that you can be guaranteed to receive a high level of service at all times, knowing that any work or bookkeeping done is being overseen by a professional accountant. But as the work is split between the two partners - the costs to you can be kept down!

It also means that if you ever decide to leave our firm, we would hand over your affairs in a responsible and co-operative way.

Other non-qualified bookkeepers and accountants may be very good, but they can be an unknown quantity, and simply cannot offer the same guarantees as those backed by a professional body.

What happens if things go wrong?

If you have a complaint against any aspect of our service, you can file a complaint against us. Please see our complaints procedure on our CIMA Member in Practice Page.

We also hold indemnity insurance to cover any professional mistakes that we might make on your accounts, up to the value of £50,000.

You can also complain to our governing body, CIMA.

What kind of service will I receive? Will I have to deal with a call centre?

We are a small local company - which we think is one of our strengths. We offer a very focussed and personal service to our clients - and promise that whenever you phone up we will know who you are, what you do and what the progress is on your accounts - whomever you speak to. If you need something done in a hurry we will move hell and high water to get it done for you. And we promise - no call centres, no endless music on hold - just friendly real people.

Why aren't you more expensive?

We are a small company who work from home, so we have very low overheads, which means that we can keep your fees down. We feel that we charge a very reasonable amount for our services, but in today's climate that is what small businesses need right now - a partner to help them flourish and grow. It's a win win situation - if we keep our fees down and help you to grow - you will expand and need more help and support from us.

Are You Worth Your Fees?

As stated above, we feel that we charge a very reasonable amount for our services. Do we earn our keep? Again, in some cases we save the client more tax than the cost of our bill. We also save them from late penalties, and penalties resulting from investigations by the HMRC. You can even recharge our bill as a business expense!

 

 

Useful Links

HMRC

The HMRC website includes information on all tax and VAT issues for all types of businesses. It is also the site where you can electronically submit your tax returns.

HMRC Website

BusinessLink

This government run site explains all aspects of business and legal requirements, including interviews with many new businesspeople on their experiences.

Business Link

Clear Cut Accounts Recommend:

Although we designed this site ourselves, it is hosted by 1&1.com.

They provide hosting and domain names at a very reasonable price. They even provide ready built websites!

Hosting and ready built websites are from £4.99 per month +VAT, and .co.uk domain names are as little as £2.99 per year.

Check them out via the link below:

 

See Us Elsewhere on the Web!

We are now listed on Yell.com, Thompson Local and Hotfrog. We are also part of:

Dorset Business Directory

Wimborne People

FreeIndex

We are also on Facebook and Linkedin!