Question 1

What accounting services do K&R Accountants offer?

Accepted Answer

We provide comprehensive accounting services including VAT returns, company accounts and corporation tax, sole trader and partnership accounts, CIS returns, capital gains tax planning, inheritance tax planning, bookkeeping, payroll and pensions, and cloud accounting software implementation. We serve businesses across Stoke-on-Trent, Staffordshire, and the wider Midlands.

Question 2

How much do your accounting services cost?

Accepted Answer

Our fees depend on the complexity of your requirements. We offer fixed monthly fees for ongoing services like bookkeeping and payroll, and project-based pricing for one-off work like company formations or tax planning. Contact us for a free, no-obligation quote tailored to your specific needs.

Question 3

How do I get started with K&R Accountants?

Accepted Answer

Getting started is straightforward. You can call us on 01782 499140, email admin@kraccountants.com, or use our online contact form. We will arrange an initial consultation to understand your needs, then provide a clear proposal with fixed fees. Once you are ready to proceed, we handle the transition from your previous accountant.

Question 4

Are K&R Accountants qualified and regulated?

Accepted Answer

Yes. K&R Accountants is regulated by the Association of Chartered Certified Accountants (ACCA). This means we maintain professional indemnity insurance, follow strict ethical codes, and are subject to regular quality reviews. You can verify our registration on the ACCA website.

Question 5

Where is K&R Accountants located?

Accepted Answer

Our office is at 12 Uttoxeter Road, Dresden, Stoke-on-Trent ST3 4JU. We serve clients throughout Stoke-on-Trent, Newcastle-under-Lyme, Stafford, Leek, and across Staffordshire. We also work with clients remotely using cloud accounting software.

Question 6

When is the Self Assessment tax return deadline?

Accepted Answer

For the 2024/25 tax year, paper returns must reach HMRC by 31 October 2025. Online returns and any tax owed are due by 31 January 2026. We recommend submitting well before the deadline to avoid penalties and plan for any tax payments due.

Question 7

What is the VAT registration threshold?

Accepted Answer

The current VAT registration threshold is GBP 90,000 of taxable turnover in any rolling 12-month period. You must register within 30 days of exceeding this threshold. Voluntary registration below the threshold is possible and may benefit businesses with high input VAT.

Question 8

When do I need to pay corporation tax?

Accepted Answer

Corporation tax is due 9 months and 1 day after the end of your company accounting period. For example, if your year end is 31 March 2025, corporation tax is due by 1 January 2026. The corporation tax return itself must be filed within 12 months of your year end.

Question 9

What are payments on account?

Accepted Answer

Payments on account are advance payments towards your next tax bill. If your Self Assessment tax exceeds GBP 1,000, HMRC requires two payments on account, each equal to half your previous year liability. These are due on 31 January and 31 July. A balancing payment settles any difference.

Question 10

What is Making Tax Digital?

Accepted Answer

Making Tax Digital (MTD) requires businesses to keep digital records and submit tax returns using compatible software. MTD for VAT is already mandatory for all VAT-registered businesses. MTD for Income Tax will apply to self-employed individuals and landlords with income over GBP 50,000 from April 2026.

Question 11

What is the Construction Industry Scheme?

Accepted Answer

The Construction Industry Scheme (CIS) is a tax deduction system for the construction sector. Contractors must deduct money from payments to subcontractors and pass it to HMRC. These deductions count as advance payments towards the subcontractor tax and National Insurance liability.

Question 12

Who needs to register for CIS?

Accepted Answer

Contractors paying subcontractors for construction work must register as contractors. Subcontractors do not have to register but doing so reduces deductions from 30 percent to 20 percent. Businesses spending over GBP 3 million on construction in three years must also register as contractors.

Question 13

How do I claim a CIS refund?

Accepted Answer

CIS deductions are advance tax payments. If deductions exceed your tax liability, you can claim a refund. Limited companies offset CIS against monthly PAYE liabilities. Sole traders and partnerships claim through their Self Assessment tax return. We help subcontractors across Staffordshire maximise their refunds.

Question 14

What is CIS gross payment status?

Accepted Answer

Gross payment status allows qualifying subcontractors to receive payments without CIS deductions. You must meet turnover thresholds (GBP 30,000 minimum per year for sole traders) and pass strict compliance tests covering tax returns, payments, and National Insurance. HMRC reviews status annually.

Question 15

When are CIS returns due?

Accepted Answer

Contractors must submit monthly CIS returns to HMRC by the 19th of each month. Returns cover payments made in the previous tax month (6th to 5th). Late returns incur automatic penalties starting at GBP 100, increasing for repeated failures.

Question 16

What accounting software do you recommend?

Accepted Answer

We are certified advisors for Xero, Sage, QuickBooks, and FreeAgent. The best choice depends on your business needs, industry, and budget. Xero suits most small businesses with its excellent bank feeds and app integrations. We help you select, implement, and learn the right platform.

Question 17

How much does bookkeeping cost?

Accepted Answer

Bookkeeping fees depend on transaction volume, complexity, and how often you need reports. Monthly packages typically range from basic bank reconciliation to full management accounts with KPIs. Contact us for a quote based on your specific requirements and current accounting setup.

Question 18

Can you connect to my bank automatically?

Accepted Answer

Yes. Modern cloud accounting software connects directly to most UK banks through Open Banking. Transactions import automatically, usually overnight. This eliminates manual data entry, reduces errors, and gives you real-time visibility of your cash position.

Question 19

What are your opening hours?

Accepted Answer

We are open Monday, Wednesday, and Friday from 9am to 5pm, and Tuesday and Thursday from 8am to 4pm. Outside these hours, you can email us or leave a message and we will respond on the next working day.

Question 20

Do I need to visit your office?

Accepted Answer

Not necessarily. Many clients work with us entirely remotely using cloud software, email, and video calls. However, we welcome face-to-face meetings at our Dresden office for those who prefer them, particularly for complex planning discussions or when you are just getting started.

Question 21

How do I book an appointment?

Accepted Answer

You can book online through our website, call us on 01782 499140, or email admin@kraccountants.com. Initial consultations are free and without obligation. We will discuss your requirements and explain how we can help before you commit to anything.

Frequently Asked Questions

General

Tax & Compliance

CIS & Construction

Bookkeeping & Software

About K&R Accountants

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