DEMSA CONNECT – HELP CENTRE

Frequently Asked Questions (FAQ)

GENERAL

How easy is it to change accountant?
– Changing your accountant is very straightforward. All you need to do once you have chosen to use Demsa Accounts is provide us with your previous accountants details and we will do the rest.

Will I be charged for my initial consultation?
– No. All initial consultations are free of charge with no obligation.

I am very busy during the working week. Can you be contacted during evenings and weekend?
– We are open Monday to Friday from 09:00 until 18:00. However, if you cannot visit during these hours we can arrange by appointment to visit you out of hours. We can also speak with you via webcam out of hours if this suits you better.

TAXATION

Do I need to be VAT registered?
– You are required by law to register for VAT if your business turnover exceeds the annual registration threshold. You can also register for VAT voluntarily if it is beneficial for your business.

What is the tax year period and deadline for file my self assessment?
– The tax year runs from 6th April to the 5th April each year and you have until the following January (31st) to file your return and pay any tax and NI due. You may also have to make a payment on account on 31st January and 31st July.

What are the deadlines for Corporation Tax?
– The requirements to comply with HMRC regulations are generally that you must pay your Corporation Tax bill within 9 months of the end of your financial year, and then file your company Tax Return within 12 months of the end of your financial year.