FAQs

The Answers You Need

 

How long should I keep my tax records for?

You need to keep your accounts and the records used to produce them for a period of six years after the date of your last accounts.

Your records will include anything you have given us to produce your accounts, such as your purchase invoices, sales invoices, bank statements, notes etc.

How do I pay my self-assessment tax?

There are a number of ways you can pay your self-assessment tax, including paying by debit, or credit, card and bank transfer.  You will need to visit:  https://www.gov.uk/pay-self-assessment-tax-bill

Make sure you have your UTR (unique tax reference) number as you may need this. Your UTR number can be found on the front page of your tax return, in the top left of the page. If paying by BACS or bank transfer, add a 'K' to the end of your UTR.

Example: 1234567890K

Tax is due by 31st January each year and we will advise you, by letter, of the amount that you are due to pay.  If you have to pay a payment on account, this is due by 31st July each year.

Are all accountants the same?

The simple answer is 'no'.  We only submit accounts that have been fully prepared and that we would be happy to defend if you have a tax investigation.  The only exception to this is if you use our Express Service in which case it states in our terms that you would be responsible for the figures you provide.

A full set of accounts means that you pay only the tax that is due, which can therefore save you money.  It also gives you an accurate picture of how your business is doing and is sometimes requested by you business bank or mortgage company.

How do I pay my company's corporation tax bill?

The various methods available for payment are here: https://www.gov.uk/pay-corporation-tax


If paying by BACS or Bank Transfer, the payment reference will be located on your 'notice to deliver
your tax return' letter, on any reminders from HMRC or in your company's HMRC online account -
choose 'view Corporation Tax statement', 'accounting periods' then select the correct period.

How do I pay my VAT bill?

The various methods available for payment are here: https://www.gov.uk/pay-vat

If paying by BACS or Bank Transfer, you will need to use your 9 digit VAT number as the payment
reference.

Your 9-digit VAT number will be on any VAT Return.

How do I pay my PAYE bill?

The various methods available for payment are here: https://www.gov.uk/pay-paye-tax

If paying by BACS or Bank Transfer, you will need to use your Accounts Office Reference Number as
the payment reference. Your Accounts Office Reference will be 13 characters long. It will be three
numbers, followed by two letters, followed by 8 numbers and would have been sent to you by
HMRC when your PAYE Scheme was initially set up. Your Accounts Office reference number can also
be found in your online PAYE Tax account.

How do I pay my CIS bill?

The various methods available for payment are here: https://www.gov.uk/pay-paye-tax

If paying by BACS or Bank Transfer, you will need to use your Accounts Office reference number as
the payment reference. Your Accounts Office Reference will be 13 characters long. It will be three
numbers, followed by two letters, followed by 8 numbers and would have been sent to you by
HMRC when your PAYE Scheme was initially set up. Your Accounts Office reference number can also
be found in your online PAYE Tax account

 How do I pay my Class 1A National Insurance bill?

The various methods available for payment are here: https://www.gov.uk/pay-paye-tax

If paying by BACS or Bank Transfer, you will need to use a 17-character number as the payment
reference. This starts with your 13-character Accounts Office reference number. Then add the tax
year you want to pay for and the digits ‘13’ to make sure your payment is assigned correctly.

Example:
Tax Year 2020 to 2021 add 2113
Tax Year 2021 to 2022 add 2213
Tax Year 2022 to 2023 add 2313

Your Accounts Office Reference will be 13 characters long. It will be three numbers, followed by two
letters, followed by 8 numbers and would have been sent to you by HMRC when your PAYE Scheme
was initially set up. Your Accounts Office reference number can also be found in your online PAYE
Tax account.