As part of my 30 day blog I have been asked to write a ‘Frequently Asked Questions’ post about what I do and how I can help you:
1) What can I claim as a business expense? 
Each and every business is different, but this post: Business Expenses will help to clarify the situation for you. If you are unsure, just give all your receipts to your bookkeeper/accountant to sort through, that is what you pay them to do!
2) When does my tax have to be paid by?
The tax you owe needs to be paid by the 31st January the following year (31/01/12 for the 2010/11 tax year). In some instances you will be required to make a payment on account by the 31st July.
3) When do you need my records by?
My own personal preference is for you to send your records to me as soon as you can, that way any errors/discrepancies can be picked up on quickly, and you will not be left with a nasty surprise if you have a large tax bill. Depending on the size of the business the accounts may need to be done monthly or quarterly. If you are unsure of anything make a note about it so that you do not forget when you go to see your bookkeeper/accountant
4) How much should I put aside for my tax? 
Again, everyone’s circumstances are different with this one. But if you are self employed I would advise to put aside 20-25% of your earnings for the end of year tax bill. Try putting the money into an ISA so that you can gain some tax-free interest on it.
5) Do you charge for phone calls/emails?
I am surprised at how often I am asked this question. The answer is always ‘no’. I only ever charge a fixed fee and that includes everything: phone calls, emails, visits etc…
If you have any other questions, please feel free to contact me via the blog or email
