FAQs

Straight answers to the questions we hear most.

Explore how we handle filings, planning and support so you can quickly confirm whether we are the right partner for your accounts, tax and payroll needs.

Last updated · Answers reflect current HMRC guidance and our own working practice.

01 · Question

Do I really need an accountant for my limited company?

You can legally file yourself, but a limited company must prepare statutory accounts, a CT600 and Companies House filings to strict deadlines. Most directors find a good accountant saves more in tax and avoided penalties than they cost — and we flag planning opportunities as we go.

See Accounts Preparation

02 · Question

How do you handle year-end accounts for limited companies?

We prepare accounts directly from your bookkeeping, reconcile balances, and file with Companies House so directors get clear insights and stay compliant.

See Accounts Preparation

03 · Question

Can you manage corporation tax planning and filings?

Yes—our team calculates liabilities, optimises allowances, and submits CT600s on time while keeping you updated on payment dates.

Explore Corporation Tax support

04 · Question

Do you support self-employed tax returns and Making Tax Digital?

We prepare SA100 returns, capture every allowable deduction, and guide you through MTD-compliant record keeping.

Help with Self-Employed Tax Returns

05 · Question

Can you take payroll off my plate?

We run payroll cycles, handle RTI submissions, and manage pension auto-enrolment so staff are paid accurately and on time.

Outsource Payroll

06 · Question

How much does an accountant cost?

We work to a fixed monthly fee agreed up front, based on your size, structure and the services you need — so there are no surprise bills. Tell us about your business and we'll send a tailored quote.

Get a tailored quote

07 · Question

How do I switch accountants to MPS?

It's straightforward and we manage it for you. Once you appoint us, we request professional clearance and your records from your previous accountant, handle the HMRC authorisations, and make sure nothing slips through the gap — usually within a couple of weeks and with no disruption.

Start switching

08 · Question

When do I need to register for VAT?

You must register once your VAT-taxable turnover exceeds £90,000 in any rolling 12-month period, or if you expect to pass it within the next 30 days. We assess the best scheme, register you and take over the quarterly MTD returns.

VAT support

09 · Question

When is my Self Assessment tax return due?

Online returns and any balancing payment are due by 31 January following the end of the tax year, with payments on account due 31 January and 31 July. We prepare and file your SA100 well ahead of the deadline.

Self Assessment help

10 · Question

When do I have to pay corporation tax?

Corporation tax is due 9 months and 1 day after your accounting period ends, while the CT600 return is filed within 12 months. We calculate the liability early so you can plan cash flow, then file on time.

Corporation Tax support

11 · Question

Should I pay myself in salary or dividends?

For most owner-managed companies a modest salary plus dividends is more tax-efficient than salary alone, but the right balance depends on your profits, other income and pension plans. We model the options as part of your tax planning.

Tax planning

12 · Question

What accounting software do you work with?

We work day-to-day with Xero, QuickBooks and FreeAgent. We can plug into your existing setup or help you migrate and get MTD-ready as part of onboarding.

How we work

13 · Question

What is Making Tax Digital and does it affect me?

MTD means keeping digital records and filing through compatible software. It already applies to all VAT-registered businesses, and from April 2026 it extends to sole traders and landlords with income over £50,000 (£30,000 from April 2027). We'll get you set up before it applies to you.

MTD explained

14 · Question

Do you work with contractors and the Construction Industry Scheme (CIS)?

Yes. We handle CIS verification, deductions and monthly returns for contractors, and reclaim overpaid CIS for subcontractors — alongside payroll and your wider accounts.

CIS explained

15 · Question

Can you help me claim R&D tax relief?

If your company works on genuine technical or scientific advances, you may qualify. We assess eligibility, prepare the mandatory Additional Information Form and build a defendable claim under the merged R&D scheme.

R&D relief

16 · Question

What expenses can I claim through my business?

Broadly, costs incurred wholly and exclusively for the business — from travel and equipment to a proportion of home-working costs. We make sure every legitimate deduction is captured and evidenced so you don't overpay.

Tax planning

17 · Question

Which areas do you cover?

We're based in Stoke Prior, Bromsgrove and support businesses across Worcestershire, Birmingham, the West Midlands and Staffordshire — and, because we work digitally, clients right across the UK.

Get in touch

18 · Question

How quickly do you respond to clients?

Fast, friendly responses are central to how we work. Clients reach us directly and typically hear back the same or next working day — not weeks later.

Our approach

19 · Question

I'm starting a new business — can you help me set up?

Absolutely. We advise on the right structure (sole trader vs limited company), register you with Companies House and HMRC, set up bookkeeping software and put a simple tax plan in place from day one.

Plan with us

20 · Question

Do you handle HMRC enquiries and inspections?

Yes. If HMRC opens a compliance check or VAT inspection, we manage the correspondence, prepare the information requested and represent you until the matter is resolved.

Compliance support

21 · Question

What's included in payroll and auto-enrolment?

We run your pay cycles, produce payslips, file RTI to HMRC on or before payday, and manage workplace pension auto-enrolment and declarations — plus CIS payroll where relevant.

Outsource Payroll

22 · Question

How do I get started with MPS?

Book a free, no-obligation discovery call. We'll learn about your business, explain how we'd help and send a fixed-fee proposal — no pressure and no jargon.

Book a discovery call

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