Frequently asked questions

We talk about your business, where you are with your records, and what you actually need help with. You will get a clear view of which services are relevant and what working together would involve. There is no charge and no obligation.

Not at all. A lot of people come to us at exactly that point. We will explain things in plain language and tell you what you need to know, rather than assuming you already speak the jargon.

Nothing in particular. It helps if you know roughly what your business turns over and how your records are currently kept, but if you are not sure, that is fine — working it out is part of the conversation.

No. Tally Master is based in London but works with clients across the United Kingdom. Records and documents are exchanged remotely, and we can talk by phone, WhatsApp or email.

It depends on your structure and how you trade. Sole traders often start with bookkeeping and a Self Assessment return. Limited companies typically need bookkeeping, financial reporting and often payroll and VAT alongside. The consultation is where we work out which of those apply to you.

Yes. Plenty of clients use a single service — a Self Assessment return, or payroll on its own. You are not required to bundle anything.

Whatever suits you and is secure. We will agree a method at the start and give you a clear list of what is needed, so you are never guessing what to send or when.

Monday to Friday, 9am to 5pm. Enquiries sent outside those hours are picked up on the next working day. You can reach us on +44 7424 758146, on WhatsApp, or by email at tallymasterltd@gmail.com.

It depends on the services you need and the size and complexity of your business — a sole trader with a handful of invoices a month is a very different piece of work from a company running payroll for a team. Get in touch and we will discuss it properly rather than quote a number that turns out not to apply to you.

The UK tax year for individuals runs from 6 April to 5 April the following year. A limited company has its own accounting period, which usually runs from its incorporation anniversary rather than following the tax year.

They apply standard UK tax rules to the figures you enter and are a genuine estimate, but they are simplified and cannot account for every circumstance. They are not tax advice, and you should not make a decision on a figure from a calculator alone — talk to us or check with HMRC.

No. Scotland sets its own income tax rates and bands, which are not included in these estimates. The calculators say so where it applies.

Get in touch and be straight with us about where things stand. We can talk through what is outstanding and what needs to happen next. Being behind is more common than people assume, and it is easier to deal with than to leave.

It depends on how much activity your business has. Some businesses are best served by monthly bookkeeping, others by quarterly. We will talk through your transaction volume and deadlines and agree a rhythm that fits.

Not necessarily. We can work with the records you already keep, whether that is software, spreadsheets or paperwork. If software would genuinely make things easier for you, we will say so.

Typically bank statements, sales invoices, purchase invoices and receipts for business expenses. We will give you a clear list at the start so you are not guessing what to send.

For online returns the usual deadline is 31 January following the end of the tax year, which runs to 5 April. Paper returns are due earlier. Check the current dates on GOV.UK, as HMRC is the authority on deadlines.

Details of your income for the tax year, records of your business expenses, and any other taxable income such as property or savings. We will send you a checklist so nothing gets missed.

Get in touch and explain the position. We can talk through what is outstanding and what needs to happen to bring things up to date.

Yes. We will set the payroll up to match how you actually pay your team, whether that is weekly, fortnightly or monthly.

Yes. Single-director payroll is common for small limited companies and is handled the same way as any other payroll.

Year-end payroll support is included, which covers the final submissions for the year and the documents your employees need.

Registration is generally required once VAT-taxable turnover passes the registration threshold, and businesses can also register voluntarily below it. The current threshold is published on GOV.UK — our VAT calculator shows the figure we hold, but HMRC is the authority.

Most VAT-registered businesses file quarterly, though other cycles exist. We will work to whatever period HMRC has set for your business.

VAT record keeping under Making Tax Digital has specific requirements around digital records and submission. Get in touch with your current setup and we will talk through what it means for you.

Financial reporting looks back at a completed period and produces the formal statements for it. Management accounts are lighter, more frequent reports produced during the year so you can steer the business as you go.

Complete and reconciled bookkeeping records for the period. If the records are not there yet, bookkeeping is the place to start.

It depends on your circumstances, and it is not purely a tax question — it also affects liability, admin and how you get paid. Our sole trader and corporation tax calculators let you compare the tax side, and a consultation is the place to talk through the rest.

A limited company has ongoing obligations to both Companies House and HMRC, with different deadlines. We will walk you through what applies to your company and when it falls due.

Monthly or quarterly are both common. The right frequency depends on how quickly your business changes and what decisions you need the figures for.

Yes. Management accounts are only as good as the records behind them, so bookkeeping needs to be current for the reports to be worth reading.