Question 1

How much does it cost to file company accounts?

Accepted Answer

Year-end accounts plus the Corporation Tax return are a fixed £399 + VAT for micro-entity companies (most small UK companies), agreed before any work starts.

Question 2

How much does an accountant cost for a limited company?

Accepted Answer

We charge fixed one-off fees, not monthly retainers: accounts + Corporation Tax return £399 + VAT, director Self Assessment £199 + VAT, dormant accounts £80 + VAT.

Question 3

Do you charge monthly fees?

Accepted Answer

No. We charge a fixed one-off fee per filing, agreed up front — so you don't pay a monthly subscription, and there's nothing to cancel between jobs.

Question 4

Is a fixed fee the same as a fixed price?

Accepted Answer

Yes — 'fixed fee' and 'fixed price' mean the same thing here: the cost is agreed in advance, with no hourly billing and no surprise bills.

Question 5

How much is a director's Self Assessment tax return?

Accepted Answer

A director's Self Assessment (SA100) is a fixed £199 + VAT, covering salary, dividends and other income.

Question 6

How much are dormant company accounts?

Accepted Answer

Dormant company accounts are a fixed £80 + VAT — for companies that aren't trading but must still file at Companies House.

Question 7

Do I need an accountant for a limited company?

Accepted Answer

There's no legal requirement, but most owner-managers use one — company accounts must follow accounting standards and tie in with the Corporation Tax return, and the penalties for getting it wrong are unforgiving.

Question 8

Do contractors need an accountant?

Accepted Answer

Most limited company contractors use one — a personal service company means accounts, Corporation Tax, payroll, VAT and a tax-efficient salary/dividend split. We handle it on fixed fees.

Question 9

Do you help small businesses?

Accepted Answer

Yes — we look after small limited companies, sole traders and landlords with accounts, tax, bookkeeping, payroll and VAT, on fixed fees.

Question 10

What accounts does a limited company have to file?

Accepted Answer

Each year a company files annual accounts at Companies House, a Company Tax Return (CT600) with HMRC, and a confirmation statement. We handle all of it.

Question 11

When are company accounts due?

Accepted Answer

Annual accounts are normally due 9 months after your company's financial year end (21 months after incorporation for a first set). File late and Companies House charges an automatic penalty.

Question 12

What is a confirmation statement?

Accepted Answer

A confirmation statement confirms your company's details at Companies House at least once a year. It's separate from your accounts — we can file it for you.

Question 13

What is the Corporation Tax rate?

Accepted Answer

Corporation Tax is 19% on profits up to £50,000 and 25% on profits over £250,000, with marginal relief tapering the rate between the two. Try our calculator for your figure.

Question 14

When is Corporation Tax due?

Accepted Answer

Corporation Tax is due 9 months and 1 day after your accounting period ends — usually before the Company Tax Return deadline. We make sure both are met.

Question 15

How is Corporation Tax calculated?

Accepted Answer

It's charged on your company's taxable profit after allowable expenses and capital allowances. Use our free calculator to estimate yours.

Question 16

How should I pay myself from my limited company?

Accepted Answer

Usually a small salary (to preserve your State Pension record) topped up with dividends from post-tax profit — the split depends on your profit and other income. We work out the most efficient mix.

Question 17

How much tax do I pay on dividends?

Accepted Answer

After a £500 dividend allowance, dividends are taxed at 8.75% (basic), 33.75% (higher) and 39.35% (additional). Our dividend calculator gives your figure.

Question 18

My company accounts are overdue — what should I do?

Accepted Answer

Act fast — penalties rise the later you are and persistent lateness leads to strike-off. We prepare and file overdue accounts quickly to limit the damage. Call 0114 327 1480.

Question 19

What are the penalties for late company accounts?

Accepted Answer

Companies House charges £150 up to 1 month late, £375 up to 3 months, £750 up to 6 months and £1,500 over 6 months — doubled if you were late the previous year too.

Question 20

How do I switch accountant?

Accepted Answer

It's simple and needn't wait for your year end — we contact your current accountant for the handover (professional clearance) and pick up from there.

Question 21

Can you set up a new limited company?

Accepted Answer

Yes — we can form your company, register it for Corporation Tax, and set up PAYE and VAT where needed, so you're filing correctly from day one.

Question 22

Should I go from sole trader to a limited company?

Accepted Answer

It can save tax once profits grow, but it adds admin. We'll tell you honestly whether incorporating is worth it for you and handle the switch.

Question 23

What is Making Tax Digital?

Accepted Answer

Making Tax Digital (MTD) is HMRC's programme requiring digital record-keeping and updates via compatible software. MTD for VAT applies now; MTD for Income Tax starts April 2026 for qualifying income over £50,000.

Question 24

When does Making Tax Digital start?

Accepted Answer

MTD for Income Tax begins April 2026 for sole traders and landlords with qualifying income over £50,000, then £30,000 from April 2027 and £20,000 from April 2028.

Question 25

Does Making Tax Digital apply to me?

Accepted Answer

It depends on your income type and level. Use our free eligibility check, or ask us — we'll tell you exactly when MTD applies to you.

Question 26

Do you do VAT returns?

Accepted Answer

Yes — we handle VAT registration and Making Tax Digital-compliant VAT returns, including the Flat Rate Scheme where it suits you.

Question 27

Do you run payroll?

Accepted Answer

Yes — we set up and run payroll for directors and staff, including a tax-efficient director's salary.

Question 28

Do you do bookkeeping?

Accepted Answer

Yes — we keep your bookkeeping tidy and up to date, working with Xero, QuickBooks or FreeAgent, or from your bank statements.

Question 29

Are you a Sheffield accountant?

Accepted Answer

Yes — we're a Sheffield-based practice (Sharrow, S11) acting for companies across the city and South Yorkshire, online and in person.

Question 30

Which areas do you cover?

Accepted Answer

We're based in Sheffield and serve South Yorkshire (Rotherham, Barnsley, Doncaster) in person, and businesses across the UK — including London, Leeds, Manchester, Birmingham and more — online.

Question 31

Can you work online / remotely?

Accepted Answer

Yes — everything can be handled securely online: you share records through the cloud and we file digitally, so your location makes no difference.

Question 32

How do I get a fixed-fee quote?

Accepted Answer

Tell us your company number and what you need — call 0114 327 1480, email shjenquiry@msc-g.com, or use the enquiry form, and we'll confirm the fixed fee before you commit.

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