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Frequently asked questions
Find quick answers to your questions.
Switching to Assist is pain free! We will contact your previous accountant and arrange for the transfer of records. We will also notify HMRC and Companies House.
Deciding to go limited or start up as a sole trader is a big one. If you are torn between going sole trader or setting up a limited company and need advice and guidance on whether it is the right thing for you, contact us and arrange a free consultation with a member of our team. We can advise on which business set up will be the most suitable for you. We also offer free limited formation when you sign up to account with Assist.
Assist tailor your package to your business’ precise needs. This means that you will never pay for services you do not use. Our fees are fixed, agreed in advance with no hidden charges. Call us to learn how we can help you.
Absolutely. We can advise and track when you should register (or if you want to de-register) and will handle the process for you.
You are legally required to register for VAT when you exceed the VAT threshold. Sometimes it may be useful to register for VAT before your turnover reaches the threshold. Contact us if you would like to find out more.
We are multi-certified advisors, with Xero, QuickBooks and Clearbooks being some, we are happy for you to continue to use the software you feel most comfortable with. But if you are open to change, we would highly recommend Xero. Xero is now the leading online accounting software in the UK for small businesses.
For us to best help your business out, and to meet any immediate deadlines, we need to ensure all the relevant information is provided on time. We will set this up and discuss the different options with you in your free consultation.
We act on your behalf in terms of any HMRC and companies house dealings. For us to be set up as your agent, we need to request an agent authorisation code (or numerous depending on which service you require. An authorisation code may need to be requested for VAT, Self-assessment, Corporation tax and PAYE). The code(s) will be sent to the same address HMRC holds for that specific tax. It is therefore important that your records with HMRC are always up to date. We will then ask you to send us your allocated code within a specified timeframe in order to complete the authorisation.
Making Tax Digital (MTD) for VAT already applies to all VAT-registered businesses, regardless of turnover, since April 2022.MTD is now rolling out for Income Tax too. If you're self-employed or a landlord with gross income over £50,000, you needed to join MTD for Income Tax from 6 April 2026. The threshold drops to £30,000 from 6 April 2027, and to £20,000 from 6 April 2028. Once in scope, you'll need to keep digital records and use compatible software to submit quarterly updates to HMRC.
Yes, if you're VAT-registered — MTD for VAT applies to every VAT-registered business now, not just those above the £90,000 registration threshold, and has done since April 2022. You must keep digital records and use MTD-compliant software to submit your VAT returns.If you're within the current MTD for Income Tax rollout (self-employed or landlords with gross income over £50,000, dropping to £30,000 in April 2027), you'll also need compatible software for quarterly digital reporting.We are Xero Advisory Certified, and we provide software training for people who look to maintain their records themselves. If this is something you are interested in, get in touch to book a training session or to see how else we can assist you.
Assist is primarily a virtual solution to your accounting needs. But we do have a physical office and arrange meetings with our clients when required.
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