FAQs
What does a Chartered Accountant do?
We help businesses and individuals with accounts, tax, audit, payroll, bookkeeping, and financial advice, ensuring you stay compliant with HMRC and Companies House while optimising your tax position.
Are you regulated?
Yes, FMY Chartered Accountants is registered with and regulated by ICAEW.
Do you work with clients outside your local area?
Absolutely. We support clients across the UK using secure digital tools and can meet in person or online.
How do we begin working together?
Book an intro call → we scope your needs → you receive a proposal with fees → e-signature & ID checks → we handle professional clearance and onboarding.
Can you take over from my current accountant mid-year?
Yes. We’ll obtain professional clearance, collect records, and ensure a smooth handover with no disruption to deadlines.
What documents do you need to onboard me?
Proof of ID/address for AML checks, company details, prior accounts/tax returns, bookkeeping access, and any HMRC authorizations.
Which accounting standards do you prepare under?
Typically UK GAAP (FRS 102/105). For groups or specific needs, we can advise on IFRS.
When are my accounts and Corporation Tax due?
Company accounts are filed with Companies House and Corporation Tax returns with HMRC on statutory timelines. We’ll give you a personalised deadline calendar and reminders.
Do you handle Self Assessment?
Yes, for directors, landlords, contractors, high-earners, and investors. We manage returns, allowances, and HMRC submissions.
Can you help with Making Tax Digital (MTD)?
Yes, MTD-compatible software setup, digital records, and quarterly submissions where required.
Do I need to register for VAT?
If your taxable turnover exceeds the UK registration threshold (or you expect it to), you must register. We’ll assess your position and manage the process.
Which VAT scheme is best for me?
We advise on Standard, Flat Rate, Cash Accounting, and other schemes to suit your cash flow and sector.
Do you run payroll and pensions (auto-enrolment)?
Yes, RTI submissions, payslips, P45/P60, and workplace pension setup/ongoing compliance.
Do you work with startups and scale-ups?
Yes, foundations (company setup, cap table, SEIS/EIS readiness), forecasting, R&D tax relief support, and investor reporting.
Do you help contractors and freelancers?
Yes, IR35 advice, optimal remuneration, expense policies, and VAT guidance.
Can you assist charities and not-for-profits?
We provide independent examinations/audits where required and advise on SORP, Gift Aid, and governance.
Do I need a statutory audit?
Only if you exceed audit thresholds or fall into specific categories (e.g., certain regulated sectors or groups). We’ll confirm whether you’re in scope and, if so, carry out a proportionate, risk-based audit.
Do you offer non-statutory reviews?
Yes, grant audits, agreed-upon procedures, and internal control reviews.
Which bookkeeping software do you support?
Xero, QuickBooks, Sage, and other MTD-compatible platforms. We can migrate data, integrate apps, and train your team.
Can you work from spreadsheets?
Yes, but we’ll usually recommend moving to a cloud system for accuracy, efficiency, and real-time insights.
How do you price your services?
Transparent, fixed monthly packages or project fees, agreed in advance with no surprises. Complex or ad-hoc work is scoped and priced before we start.
Is there a minimum contract term?
Most clients are on rolling monthly engagements. We’ll confirm terms in your engagement letter.
Will you deal with HMRC for me?
Yes, once authorised, we can speak to HMRC on your behalf, submit returns, and handle enquiries.
What happens if I receive an HMRC enquiry?
We’ll guide the response, manage correspondence, and can provide fee protection cover if you’d like extra peace of mind.
Do you help with tax planning?
Yes, covering remuneration, dividends vs salary, capital allowances, profit extraction, property, and succession planning. We tailor advice to your goals and risk profile.
I trade overseas—can you help with cross-border VAT and tax?
Yes, we advise on UK rules and coordinate with overseas advisers where needed.
I’m a non-resident with UK income—do I need to file?
Often yes. We’ll assess your UK obligations and any double-tax treaty relief.
How do you protect my data?
We use encrypted portals and follow GDPR best practices, with strict access controls and regular security reviews.
Can you provide references or case studies?
Happily, available on request, subject to client consent.
What turnaround times can I expect?
We’ll agree clear timelines at the outset. If you provide records promptly, we typically deliver ahead of statutory deadlines.
How will we keep in touch?
Email, phone, and secure portal—plus regular check-ins and proactive reminders before key deadlines.