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Frequently Asked Questions

If the director of a small business tries to do the business’ bookkeeping and accounting on their own, then they can face many problems.

One of the main problems they can incur is that they may file compliance paperwork and tax returns after the deadline, and this can result in hefty fines.

Also, they may fall behind with invoicing and they may also fail to claim certain expenses.

On top of this, if they make a mistake in the books, it can take several hours or maybe even days to fix, which is an unnecessary loss of time, and it can prevent the growth of the business.

If the director of a small business employs an accountant, then they will file their tax returns and paperwork on time, and they will also improve the cash flow of the business.

As well as this, they can offer financial advice to the directors of these businesses, which will help increase their profitability.

Contact Quest Birmingham Accountants for a chat about how we can help you pay less tax and keep more money in your pocket.

Accountants must get a formal education, which is often a bachelor’s degree in accounting/finance, whilst bookkeepers do not require such qualifications.

Therefore, a career in accounting is often seen as being more difficult than one in bookkeeping.

Bookkeepers are involved with day to day operations in a business and they document each transaction, so that the business’ finances are well documented.

Accountants use the data provided by bookkeepers to provide financial analysis for businesses. Essentially, bookkeepers manage the day to day transactions of a business, whist accountants act as consultants when it comes to financial analysis, financial forecasting, strategies etc.

Contact Quest Birmingham Accountants for a chat about how we can help you pay less tax and keep more money in your pocket.

Your tax position can change based on the way your business is structured. For example, people who are self-employed have a different tax position to those who are the director of a limited company.

Accountants have a wide range of knowledge regarding tax; therefore, they can offer their clients advice on the most efficient tax plans for their business.

Furthermore, accountants will ensure that businesses meet their tax deadlines, which helps the businesses save money as they will avoid penalties.

This money can then be invested into the business, thus helping it expand.

Contact Quest Birmingham Accountants for a chat about how we can help you pay less tax and keep more money in your pocket.

In the UK, if a business would like a simple tax return, then it would cost between £75 and £350 plus VAT depending on how high the quality of the service is.

If a small business in the UK wants a standard set of accounts completed and sent to Companies House, then the average price would be £500 for the year.

However, it is important to note that the price can vary depending on the situation of the business.

Contact Quest Birmingham Accountants for a chat about how we can help you pay less tax and keep more money in your pocket.

Although businesses can set up payroll without an accountant, it is often better to get an accountant to set up payroll as this is an area that they excel in.

Accountants who set up a business’ payroll are usually responsible for balancing the business’ accounts.

Contact Quest Birmingham Accountants for a chat about how we can help you pay less tax and keep more money in your pocket.

Not when you consider how much time, hassle and money they can save you. They can also help your business expand, increasing your revenue and profits. A good accountant pays for their services many times over.

Contact Quest Birmingham Accountants for a chat about how we can help you pay less tax and keep more money in your pocket.

Yes, of course you can, but if you want to save yourself a lot of time, stress, hassle and money, then leaving it to the professionals is our advice if you want to get your accounts, tax returns and VAT returns in on time to meet the deadline and avoid a hefty fine from HMRC. 

Contact Quest Birmingham Accountants for a chat about how we can help you pay less tax and keep more money in your pocket.

Sticking your head in the sand is a recipe for disaster. Meeting tax deadlines and making the payments on time is essential.

Using an accountant means you never have to worry about your accounts and taxes ever again, allowing you to get on with growing your business and doing things you want to be doing.

We’ll ensure you’re up to date with all of your payments and that they are made on time 🙂

Contact Quest Birmingham Accountants for a chat about how we can help you pay less tax and keep more money in your pocket.

Quest has worked with hundreds of clients from all over the UK and abroad for over 20 years.

Our wide range of experience with many types of clients ensures that everything is done on time and to the highest possible of standards, saving you time, money, stress and hassle. 

Contact Quest Birmingham Accountants for a chat about how we can help you pay less tax and keep more money in your pocket.

Contact Us

Give us a call on 0121 235 0315 or send us a message below to book your free consultation.

Quest Chartered Management Accountants. Branston Court, Branston St, Birmingham B18 6BA