Question 1

Do I have to move everything at once?

Accepted Answer

No. Plenty of clients start with just accounts and corporation tax, then bring bookkeeping, VAT or payroll across once they see how we work. You set the pace.

Question 2

Is switching accountants a hassle?

Accepted Answer

It’s straightforward and we handle it. We write to your current accountant for the professional clearance and records, register as your agent with HMRC, and set the transition dates. Most switches take a couple of weeks with almost nothing needed from you.

Question 3

We’re not international yet. Is iCXO still a fit?

Accepted Answer

Yes. The majority of the accountancy work we do is domestic. The international expertise is there for when you need it, not a requirement to work with us, but it does mean you’ll never have to change firms as you grow.

Question 4

Can you do the accounts if someone else does the bookkeeping?

Accepted Answer

Yes. We work from whatever records you have, your own Xero, a bookkeeper, or spreadsheets. If the records need tidying first we’ll tell you what it takes.

Question 5

What does it cost?

Accepted Answer

A fixed annual or monthly fee agreed up front, based on the size and complexity of the company. You’ll never get a surprise invoice for extra time.

Question 6

We already use Xero. Can you just take it over?

Accepted Answer

Yes. We’ll review how it’s set up, fix anything that’s off, and take on the ongoing bookkeeping from there.

Question 7

How often will we get management accounts?

Accepted Answer

Monthly or quarterly, whichever matches how you make decisions. We agree the cadence up front and keep to it.

Question 8

Do you offer bookkeeping without the rest?

Accepted Answer

Yes. You can take bookkeeping and management accounts on their own, or as part of a wider package.

Question 9

Do I have to register for VAT?

Accepted Answer

Once your taxable turnover passes the threshold, yes, but there are cases where voluntary registration earlier helps, and cases where it hurts. We’ll tell you which applies to you.

Question 10

Which VAT scheme is best?

Accepted Answer

It depends on your margins, your costs and your customers. We compare the options against your actual numbers rather than guessing.

Question 11

Can you take over an existing VAT mess?

Accepted Answer

Yes. If previous returns are wrong we’ll assess the exposure, correct it properly, and manage any disclosure to HMRC.

Question 12

What should a director’s salary be?

Accepted Answer

There’s usually an optimal level that balances income tax, National Insurance and pension eligibility against dividends. We set it for each director every tax year, and it’s part of the service, not an extra.

Question 13

Can you take over payroll mid-year?

Accepted Answer

Yes. We take over the payroll scheme from your current provider, carry over the year-to-date figures, and pick up from the next pay run with no gap.

Question 14

Do you handle pensions auto-enrolment?

Accepted Answer

Yes. We set up and maintain your workplace pension, process contributions each pay run, and handle re-enrolment when it’s due.

Question 15

I only need a return filed. Is that fine?

Accepted Answer

Of course. We’ll file an accurate return at a fixed fee. But if we also act for your company, the planning around it usually saves more than the fee.

Question 16

Can you handle capital gains from a share or property sale?

Accepted Answer

Yes. We calculate the gain, apply the reliefs and allowances available, report it correctly and meet any separate reporting deadlines, such as the 60-day deadline for UK residential property.

Question 17

When do you need my information?

Accepted Answer

As early as possible after the tax year ends on 5 April. The sooner we have it, the sooner you know what’s due, and the more time there is to plan before the January deadline.

Questions we hear.

Working with iCXO.

Accounts and corporation tax.

Bookkeeping and management accounts.

VAT.

Payroll.

Personal tax.

Let’s talk about your numbers.