Frequently Asked Questions

Find answers to common questions about our services

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Browse through our frequently asked questions to find the information you need. If you can't find the answer you're looking for, feel free to contact us directly.

FAQ Categories

Quick links to different sections

General Questions

Common questions about our services and how we work.

Bookkeeping

Questions about our bookkeeping services and processes.

VAT & Tax

Information about VAT returns and tax compliance.

Pricing

Questions about our pricing and payment terms.

General Questions

Learn more about Peak Accountancy Services

We offer a comprehensive range of accounting services including bookkeeping, VAT returns, Xero training, CIS returns, payroll processing, and year-end accounts. Our services are tailored to meet the specific needs of UK businesses of all sizes.
We work with businesses across various sectors including sole traders, limited companies, partnerships, retail, hospitality, construction, professional services, healthcare, e-commerce, and property management. We have experience with businesses at every stage of growth.
Getting started is easy! Simply contact us through our website, phone, or email to schedule a free consultation. We'll discuss your business needs, explain our services, and provide you with a tailored quote. Once you're ready to proceed, we'll guide you through the onboarding process.
Yes, our team consists of fully qualified and experienced accountants and bookkeepers. We stay up-to-date with the latest UK tax laws, regulations, and accounting standards to ensure we provide accurate and compliant services to all our clients.
Yes, we offer fully remote accounting services using secure cloud-based software. This means we can work with businesses anywhere in the UK. You'll have real-time access to your financial information, and we can communicate via phone, email, or video calls as needed.

Bookkeeping Questions

Common questions about our bookkeeping services

Our bookkeeping service includes recording all business transactions, bank reconciliation, accounts payable and receivable management, regular financial reports, VAT return preparation, and ensuring your records are accurate and up-to-date for HMRC compliance.
We offer flexible update schedules based on your business needs. This can be daily, weekly, or monthly depending on your transaction volume and requirements. We'll work with you to determine the most suitable frequency for your business.
We primarily use Xero, a leading cloud-based accounting software. We also work with other popular platforms like QuickBooks and Sage. If you already use a different system, we can adapt to work with your existing software.
Yes, we offer bookkeeping clean-up services. We can review your existing records, identify and correct errors, reconcile accounts, and bring your books up to date. This ensures you have accurate financial information and are compliant with HMRC requirements.
Absolutely! When we use cloud-based software like Xero, you'll have real-time access to your financial data 24/7 from anywhere. You can view reports, check your financial position, and monitor your business performance at any time.

VAT & Tax Questions

Information about VAT returns and tax compliance

Yes, we are fully compliant with Making Tax Digital requirements. We use MTD-compatible software to prepare and submit your VAT returns directly to HMRC, ensuring you meet all compliance obligations.
You must register for VAT if your taxable turnover exceeds £90,000 (as of 2024/25). However, you can also register voluntarily if your turnover is below this threshold. We can advise you on whether VAT registration would benefit your business.
Most businesses submit VAT returns quarterly, though some smaller businesses may be eligible for annual VAT returns. We'll ensure your returns are prepared accurately and submitted to HMRC before the deadline to avoid penalties.
Missing VAT return deadlines can result in penalties and interest charges from HMRC. We ensure all returns are submitted on time to avoid these issues. If you've missed deadlines in the past, we can help you get back on track.
Yes, we provide CIS (Construction Industry Scheme) return services for contractors and subcontractors. We handle monthly CIS returns, verify subcontractors, calculate deductions, and ensure full compliance with HMRC regulations.

Pricing Questions

Information about our fees and payment terms

Our pricing is tailored to each business based on your specific requirements, transaction volumes, and the complexity of your needs. We offer competitive rates and flexible packages. Contact us for a free, no-obligation quote customized to your business.
Yes, we offer fixed monthly packages for many of our services, giving you predictable costs and no surprise bills. We'll discuss your needs during our initial consultation and recommend a package that suits your budget and requirements.
No, we believe in transparent pricing. All fees are discussed and agreed upon before we begin work. Your quote will clearly outline what's included in our services, and we'll notify you of any additional costs before incurring them.
We accept various payment methods including bank transfer, direct debit, and online payments. For ongoing services, we typically invoice monthly with payment due within 14 days. We'll discuss payment terms during our initial consultation.
While we prefer to work with clients on an ongoing basis to build a strong relationship, we don't lock you into long contracts. Our terms typically require 30 days' notice if you wish to discontinue services. We can discuss specific terms during our consultation.

Still Have Questions?

Don't hesitate to reach out. We're here to help and answer any questions you may have.