Frequently Asked Questions

We have helped answer a few key fundamental accountancy related questions below. If you have questions about our services or accountancy in general, you may find the answers you’re looking for here. 

 

Remember that the below answers are provided for guidance and may not cover your own business circumstances. Please contact us directly for more bespoke information that will be relevant to you.

Will I be billed for any questions or contact?

No - ask away. We are here to help you.
If your question or contact leads to work the price will be agreed with you before the work is undertaken.

Do you bill by the hour for your accountancy services?

No, all jobs and services are priced on an annual or monthly basis and the price agreed before the commencement of work.

Do you bill by the hour for your bookkeeping services?

We do offer a standard rate of bookkeeping of £25+ VAT per hour.

Is it important to use a qualified accountant?

Using a qualified accountant will give you the reassurance that your responsibilities to HMRC & Companies House are met and you are fully compliant. 

We believe you should leave the plumbers to plumbing, decorators to decorating, singers to singing and accountants to accounting.

Are you up to date with recent accountancy regulations and accountancy industry changes?

All qualified staff at Neon Numbers complete annual Continued Professional Development to ensure we stay at the top of the game.  

Are you able to take on the whole accounting function of my business?

Yes. Talk to us about becoming part of your business and operating the whole accounting function using the latest software and technology.

Is it worthwhile having regular management accounts prepared?

Management accounts can help businesses understand where they have been, where they are currently and where they are going. Speak to us about the advantages of regular management account reports.

How long do I need to keep my business accounting records for?

You should keep all records for 5 years from the 31st January deadline of the relevant tax year personally. Businesses should keep their accounting records for 6 years from their last company year end.

Should I be using the ‘10% Wear and Tear’ or ‘Renewals’ accounting method with my rented property accounts?

There is not a ‘yes or no’ answer to this question. All the information should be presented to us to enable Neon Numbers to make the best judgement on your behalf to maximise tax efficiency.

How much accounting expense should I include for 'Use of Home as Office' in my business accounts?

This depends on your business type, employment status and amount of home use. Talk to one of our experts and we will advise on eligibility and the relevant amount to claim or include.

Your Questions Answered: