Question 1

What services does NTM Associates Ltd provide?

Accepted Answer

We provide bookkeeping, accounting and tax, payroll, VAT returns, company accounts and business support. In short: everything a small business, contractor, landlord or limited company needs to stay compliant and tax-efficient.

Question 2

Who do you work with?

Accepted Answer

We work with sole traders, freelancers, contractors, landlords, start-ups and limited companies across the UK. Our clients range from one-person businesses to established companies with employees.

Question 3

Do you work with clients UK-wide?

Accepted Answer

Yes. We work remotely using cloud accounting software and video calls, so we support clients anywhere in the UK and beyond.

Question 4

Is my financial information kept confidential?

Accepted Answer

Absolutely. We handle all client information with full confidentiality and in line with data protection requirements. Your records are stored securely, and we never share them with anyone without your authorisation.

Question 5

What is the difference between bookkeeping and accounting?

Accepted Answer

Bookkeeping is the day-to-day recording of your income and expenses. Accounting turns those records into tax returns, accounts and strategic advice. We offer both, so you can start with bookkeeping and add accounting whenever you're ready.

Question 6

Do you use software like Xero or QuickBooks?

Accepted Answer

Yes. We work primarily with Xero and QuickBooks, and can set up the software, migrate your data and train you to use it. Both are MTD-compliant, which is essential under HMRC rules.

Question 7

Can you help me set up as a limited company?

Accepted Answer

Yes — it's one of our most popular services. We help with incorporation, registration for VAT, PAYE and Self Assessment, and advise on whether a limited company is even the right structure for you.

Question 8

When must I register for VAT?

Accepted Answer

You must register when your taxable turnover exceeds £90,000 in a rolling 12-month period, or if you expect it to in the next 30 days. You may also register voluntarily. We'll review your numbers and advise on the best timing.

Question 9

Can you file my VAT returns for me?

Accepted Answer

Yes. We prepare and file your VAT returns quarterly through MTD-compliant software, remind you when payments are due, and handle any HMRC queries.

Question 10

What is Making Tax Digital (MTD) and does it affect me?

Accepted Answer

MTD is HMRC's programme to move tax reporting fully digital. It's already mandatory for VAT, and from April 2026 it applies to income tax for sole traders and landlords earning over £50,000, extending to £30,000 from April 2027. We keep all our clients compliant.

Question 11

What payroll services do you provide?

Accepted Answer

We run weekly or monthly payroll, submit RTI returns to HMRC, produce payslips and P60s, manage auto-enrolment pensions and handle statutory payments like SSP and SMP.

Question 12

What is RTI?

Accepted Answer

Real Time Information (RTI) means you must tell HMRC about payments to employees on or before pay day. We submit these returns automatically as part of your payroll service.

Question 13

Do I have to enrol my employees in a pension?

Accepted Answer

Yes, if they meet the criteria. Auto-enrolment is a legal duty for almost all employers. We manage the assessment, enrolment and ongoing contributions so you stay compliant.

Question 14

When is the self-assessment deadline?

Accepted Answer

Paper returns are due by 31 October and online returns by 31 January following the tax year end. For example, the 2025/26 return is due by 31 January 2027. We always file early.

Question 15

What happens if I miss the self-assessment deadline?

Accepted Answer

You'll face an automatic £100 penalty, with further penalties if you're more than 3 months late, plus interest on any tax paid late. We help you avoid this entirely by managing your deadlines.

Question 16

How much tax will I pay as a sole trader?

Accepted Answer

You pay income tax at 20%, 40% or 45% depending on your profit, plus Class 2 and Class 4 National Insurance. Exactly how much depends on your income and allowable expenses — we'll calculate it precisely for you.

Question 17

How much do your services cost?

Accepted Answer

We offer clear, fixed-fee pricing tailored to your needs — no hidden charges. The cost depends on the services you need and the size of your business. Contact us for a free, no-obligation quote.

Question 18

How quickly can you respond to my queries?

Accepted Answer

We're a responsive, client-focused firm. Most queries are answered within one working day, and urgent issues are prioritised.

Accountancy questions, answered