ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More
Cruse+Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
Frequently asked questions
What is a micro entity for accounting purposes?
A micro entity is a very small company that meets at least two of three criteria: turnover not exceeding £632,000, balance sheet total not exceeding £316,000, and average number of employees not exceeding 10. Micro entities can file simplified accounts with HMRC and Companies House.
Do micro entities need to file a full tax return?
Yes, micro entities must still file a Corporation Tax return with HMRC each year. However, they can submit abbreviated accounts to Companies House. An accountant can ensure the correct forms are used and deadlines are met to avoid penalties.
Can an ACCA accountant help with VAT for my micro entity?
Yes, ACCA qualified accountants are trained in VAT regulations and can assist with VAT registration, returns, and partial exemption calculations. They ensure your micro entity remains compliant with HMRC requirements while maximising any available reliefs.
What are the benefits of using a local accountant in Crewkerne?
A local accountant in Crewkerne understands the regional business environment and can offer face-to-face meetings. They provide personalised service tailored to micro entities, helping with everything from bookkeeping to tax planning, and are easily accessible for ongoing support.
How do I choose the right accountant for my micro entity?
Look for accountants with ACCA, ICAEW, or AAT accreditation who have experience with micro entity accounts. Check client reviews on AccountingFirms.co.uk, compare fees, and arrange a consultation to discuss your specific needs before making a decision.
What deadlines apply to micro entity tax returns?
Micro entities must file their Corporation Tax return with HMRC within 12 months of the end of their accounting period. Payment of Corporation Tax is due nine months and one day after the period end. Self-assessment returns for directors are due by 31 January each year.
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