
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

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
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 the following criteria: turnover of no more than £632,000, balance sheet total of no more than £316,000, and no more than 10 employees. Micro entities can prepare simplified accounts with reduced disclosure requirements under the Companies Act 2006, making compliance easier and cheaper.
Do micro entities need to file accounts with HMRC?
Yes, micro entities must file annual accounts with Companies House and a Corporation Tax return with HMRC. Even with simplified reporting, you must submit accurate financial information. A qualified accountant in Glengormley can ensure your micro entity accounts meet all legal obligations and deadlines.
Can a micro entity be exempt from audit?
Yes, micro entities are generally exempt from audit unless they meet specific conditions, such as being a public company or having shareholders who request an audit. The exemption reduces administrative costs, but you still need to prepare and file accounts. An ACCA or ICAEW accountant can confirm your eligibility.
What qualifications should a micro entity accountant hold?
Look for accountants with recognised qualifications from ACCA, ICAEW, or AAT. These professionals are regulated and follow strict ethical and technical standards. They understand HMRC requirements, Corporation Tax, VAT, and micro entity reporting frameworks, ensuring your accounts are compliant and accurate.
How can a micro entity accountant help with VAT?
A micro entity accountant can assist with VAT registration, flat rate scheme applications, and quarterly or annual returns. They ensure you claim all allowable input tax and meet HMRC deadlines. For businesses in Glengormley, local accountants provide tailored advice on VAT thresholds and sector-specific rules.
Why use AccountingFirms to find a micro entity accountant in Glengormley?
AccountingFirms.co.uk connects you with verified, regulated accountants who specialise in micro entity accounts. The directory, built by ICAEW and ACCA professionals, lists over 22,000 UK firms. You can compare providers, read client reviews, and choose a local expert in Glengormley who understands your business needs.
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