Frequently asked questions
Is it too good to be true?
NO! It’s not too good to be true! We’ve created systems that link together, and we use technology to its fullest to enable us to be the most efficient at doing the accounts and tax prep service.
We do everything that your existing accountant is doing for that, but using technology instead. And that’s why we’re able to offer it at this low price.
We have two subscription options:
An annual subscription which works out at £19.99 (+VAT) per month when paid in advance, or a monthly subscription at £24.99 (+VAT) paid on a month by month basis with no tie-ins whatsoever.
Both subscriptions include access to QuickBooks Plus online, which is the top tier QuickBooks online software account currently retailing at £24.99 a month. We’re giving you the software and we’re doing your accounts and tax returns, and charging a lot less that your existing accountant.
I’m on Xero, do I have to move?
Yes, we work with QuickBooks online exclusively. The reason we do that is because, to give you such a low price, our systems have been been created such that we need to use QuickBooks online and it’s the only package we work with.The great news is, because you’re already using a cloud based software, moving from one to the other is really easy to do. And this is all included in the price.
QuickBooks and Xero are the two market leaders in the UK with QuickBooks being the leader worldwide. There are some quirks between the two, but generally they’re pretty much on par, and we find that the reporting from QuickBooks is far more powerful than it is from Xero.
I’m on Sage or using Spreadsheets, do I have to move?
The cloud is brilliant because it’s more efficient than other accounting softwares. It gives you the most up to date information and does a lot of the processing that you would have to do on Sage and spreadsheets yourself.
The processing you do manually is often automated in the cloud. The bookkeeping ability is much faster and more accurate. And you will be able to make decisions much faster because you’ve got real, live data and can see what’s happening in your business at that moment in time.
Also, with Making Tax Digital on the horizon, all companies will have to be online in 2020. So between now and then, everybody in the country will need to be filing digitally with HMRC. It’s best to get ahead of the curve and get used to the online systems before that first quarter hits!
The cloud is really powerful. With multiple add-ons that you can plug into your account that can really increase your business, escalate efficiency, help with stock control, debtor chasing and whole range of business tools.
Don’t worry if you’re on Sage – we can move your records across. Your current year and you previous year data will be migrated so you won’t lose your comparatives. With spreadsheets, we will get you up and running as fast as we can.
I’ve got a bookkeeper who keeps great records and then send them off to the accountant. Do we need you?
TaxGo is purely an accounts and tax filing service, so if you’re the type of person that keeps really good accounting records and you don’t speak to your accountant much during the year, TaxGo is the service for you. If you want proactive support and advice then TaxGo isn’t the service for you.
Does it include bookkeeping?
No. Naturally, for such a low cost per month, it is purely an accounts and tax filing service.
What if I have a couple of queries? Sometimes I do speak to my accountant about a few things.
No problem, we can answer any ad hoc queries you might have.
At present, the two firms that created TaxGo are able to offer accounting advice via a pre-arranged telephone call. Both firms fully understand the TaxGo system and are able to offer you the advice on an ad hoc basis that you need on top of the accounts and tax filing service. This will be charged out dependent on the query and on a ‘pay-as-you-go’ basis.
Is the director’s tax return included?
If you’re on our Limited Company package, the director’s tax return isn’t included in the price as our service is for the company’s accounts and the company’s tax return. If you do want us to do the director’s self-assessment tax return, we can do that and that’s an additional charge of £100 + VAT.
If you’re on our Sole Trader package, then yes your self-assessment is included in the package.
Can we meet?
No, we’re a cloud based service and if you feel you need to meet your accountant we’re probably not the right fit for you.
How do I move to you?
We deal with all the professional clearance and get the information we need form them – all you need to do is make sure you’ve paid them to help this process.
Are you a software only business?
No, we work with the software to give you the best of both worlds.
How do I transfer to QuickBooks?
QuickBooks provide a free change over service and can be contacted.
What add-ons are available?
With QuickBooks you have access to the fill suite of partner apps like Receipt Bank and these can be found on apps.intuit.com