Question 1

What does an accountant do for a limited company?

Accepted Answer

An accountant for a limited company handles the filings the company is legally required to make, including statutory annual accounts for Companies House, the CT600 Corporation Tax return for HMRC, VAT returns and payroll. Many firms also provide advisory services such as management accounts, budgeting and forecasting. At Gravitate, we cover both, and we advise on the tax position of the company as well as that of its shareholders.

Question 2

How much does an accountant cost for a limited company?

Accepted Answer

Accountancy fees for a UK limited company vary considerably by location, client requirements and quality of service. At Gravitate, our core compliance packages for limited companies start at around £200 plus VAT per month, driven largely by company turnover. More advanced or advisory-led services cost more, reflecting the work involved and the value they provide. There are some services that we price based on transaction levels. You can see our full pricing breakdown on our pricing page.

Question 3

What's included in an accounting package?

Accepted Answer

A core accounting package for a limited company includes your statutory annual accounts, your Corporation Tax return, and VAT returns where the company is registered. At Gravitate, we also cover personal self-assessment for company directors as standard. You can add bookkeeping support, payroll, strategic catch-ups, and higher-value advisory services, so the package matches how closely you want to track your numbers.

Question 4

Can Gravitate take over from my existing accountant?

Accepted Answer

Yes, Gravitate regularly take on new clients who are switching away from an existing accountant that they have either outgrown or become dissatisfied with. Our onboarding process is well defined, so you can understand exactly what to expect when making the switch.

Question 5

Can you handle my VAT and payroll too?

Accepted Answer

Yes. Gravitate provides a full suite of accounting services beyond your accounts and Corporation Tax. That includes digital VAT returns filed under Making Tax Digital, payroll and pension auto-enrolment, bookkeeping, and a range of additional advisory services. Our clients take these within a single monthly package rather than arranging each one separately.

Question 6

What's the difference between compliance accounting and advisory accounting?

Accepted Answer

Compliance accounting covers the filings a company is legally required to make, like your statutory accounts, Corporation Tax returns, VAT and payroll. Advisory accounting is forward-looking work that is not legally required but strategically valuable, such as forecasting, tax planning, management reporting, and support on funding or a company sale.

Question 7

What accounting compliance does my business need?

Accepted Answer

Every UK limited company must file annual accounts with Companies House, a CT600 Corporation Tax return with HMRC, and an annual confirmation statement. Companies with employees must also run PAYE payroll and meet pension auto-enrolment duties, and those with taxable turnover above £90,000 must register for VAT and file regular returns. Beyond that baseline, requirements scale with the company. Your size, sector and growth plans determine whether you also need bookkeeping support, management accounts or industry-specific reporting.

Question 8

When do I need to file my company accounts?

Accepted Answer

A private limited company must file its annual accounts with Companies House within 9 months of its financial year end. First accounts are due 21 months after the date of incorporation. Corporation Tax is payable 9 months and 1 day after the year end, and the CT600 return is due within 12 months. For a 31 March 2026 year end, that means accounts filed by 31 December 2026, Corporation Tax paid by 1 January 2027, and the CT600 filed by 31 March 2027. Companies House late filing penalties start at £150 and rise to £1,500 once accounts are more than 6 months late, and they double if you file late two years running.

Question 9

Do I need an accountant if I use Xero?

Accepted Answer

Xero records your transactions but does not file your statutory accounts or Corporation Tax return. Xero cannot submit accounts to Companies House or a CT600 to HMRC. It also cannot decide how a transaction should be treated for tax. It is possible to do all of this yourself. Whether you do depends upon how much time you are happy to spend doing so, and how confident you are in your ongoing compliance and risk areas.

Question 10

How difficult is it to switch accountants?

Accepted Answer

Switching accountants is usually straightforward. Your new firm writes to your current accountant for professional clearance and your records, and you sign an engagement letter and a new HMRC authorisation. You can switch at any point in the year, though just after a year end is the tidiest. Difficulty usually comes from complicating factors like missing records or overdue filings rather than the switch itself. Whatever your position, Gravitate's Client Care team can provide the support and information you need to make the process as smooth and stress-free as possible.

Question 11

Will you help me reduce my tax bill?

Accepted Answer

Yes. Tax is a key component of our work at Gravitate, and we optimise the tax efficiency of our clients' businesses, their personal finances and their families. That covers year-end tax planning, remuneration planning for directors and shareholders, and more in-depth tax advice where the position calls for it. These services are billed separately from our core compliance work.

Question 12

Do you work with businesses outside Sheffield?

Accepted Answer

Yes. Gravitate is based in Sheffield and works with hundreds of clients in the Sheffield City region, but our digital systems, software and tools enable us to work with clients all over the UK, from London to Scotland. We conduct a lot of our meetings online via Teams, and we have an open channel for clients who wish to call, email or WhatsApp our team with any questions or updates relating to our work for you.

Option	Fee (excl. VAT)
Full day rate	£750/day
Per hour rate	£135/hour

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