Frequently Asked Questions

At Athena Accountants, our team of expert accountants are happy to answer any questions you have, helping you to focus on running your business.

VAT & Tax Questions

VAT registration is done through HMRC, you can either apply yourself, or we can do it on your behalf.

There is a threshold that businesses must register for VAT, this is currently £85,000 for a rolling 12 month period.

Personal tax is payable by 31st January every year. With payments on account made for the following year also on that date and again on 31st July.

Corporation tax is due 9 months and 1 day after the company year end.

Business Finance Questions

Yes. This is especially important should you have a tax investigation, and it is actually one of the director’s responsibilities for companies. This does not have to be in paper form though. We use an app called Receipt bank which links an electronic copy to your bookkeeping software.

To register as self-employed, there is a very simple HMRC form that needs to be completed. We can do this for you or point you in the right direction so that you can do it yourself.

A partnership is an agreement between 2 or more people. You may need a solicitor to draw up a contract and it needs to be registered with HMRC.

Accounting Terms & Questions

Bookkeeping is the recording of your income and expenses, reconciliation of your bank accounts and details of your customer and suppliers, all n once place. We use accounting packages such as Xero and Freeagent. Bookkeeping is an essential step of the whole accounting process.

This is an annual report, compulsory for companies, that sets out your performance, profit (or loss) for the year and position, the businesses assets and liabilities.

We operate on a fixed fee basis in the main, tailored packages, bespoke to each client. There will of course be the odd one-off fee that is always discussed in advance.

Very. We simply write to your old accountant once you have told them about us and they will send us all your past information. It's that easy and we do it all.

This is the period that is covered in a set of accounts or tax return.

This the last day of the accounting period.

Still have a question?

Take a look at some more of our frequently asked questions.

Start the journey to happier customers & increased profits

Our team are happy to work alongside you. With a great toolkit of contacts we can help pass details on to all of our clients or use within our collaborations. You know sometimes it is, who you know!

Expert Accountancy Team in Wantage Oxfordshire