Frequently Asked Questions (FAQ)

At Thobani Accountants, we’re proud to support individuals and businesses across Peterborough and Cambridgeshire with reliable, fixed-fee accounting and tax services. FAQ: Below you’ll see answers to the questions we’re most often asked.  If you can’t find what you’re looking for, contact us for a free initial consultation. Whether you’re self-employed, running a limited company or managing rental property, we’re here to make your finances simple and stress-free.

The letters FAQ on a colourful background

1. What services do Thobani Accountants provide?

We offer a full range of accountancy services in Peterborough, including bookkeeping, payroll, VAT returns, corporation tax, self-assessment, and business start-up support. We also help with management accounts, forecasting, and cloud accounting through QuickBooks, Sage and Xero.

2. Do I need an accountant for my small business in Peterborough?

While it’s possible to manage your own books, most small business owners save both time and money by using a qualified accountant. At Thobani Accountants, we ensure your records are compliant, deadlines are met, and you only pay the tax you need to.

3. How much does an accountant cost in Peterborough?

Our accounting fees depend on your business size and service requirements, but we always provide a fixed-fee quote in advance. This ensures no hidden charges — just clear, transparent pricing tailored to your needs.

4. Can you help me switch from my current accountant?

Yes, switching to Thobani Accountants is simple and hassle-free. We handle all communication with your previous accountant to ensure a smooth handover and minimal disruption to your business.

5. Do you work only with local clients in Peterborough?

Most of our clients are based in Peterborough and surrounding areas, but we also support businesses and individuals nationwide using secure cloud accounting systems and online meetings.

6. What’s the difference between a bookkeeper and an accountant?

A bookkeeper records your daily financial transactions, while an accountant interprets that information, prepares financial statements, files tax returns, and provides advice to improve profitability and compliance.

At Thobani Accountants, we offer both — so you get a complete service in one place.

7. Can you help me reduce my tax bill?

Yes. We use legitimate tax planning strategies to ensure you’re making full use of allowances, deductions, and reliefs available to your business. We’ll also help you structure your income in the most tax-efficient way.

8. Do I need an accountant to file a self-assessment tax return?

You can file it yourself, but many people choose an accountant to avoid errors and missed claims. We’ll make sure your self-assessment tax return is accurate, on time, and fully compliant with HMRC.

9. Do you offer support for landlords and rental property owners?

Yes — we help landlords in Peterborough with property income, allowable expenses, and Making Tax Digital (MTD) compliance. Whether you own one property or a portfolio, we’ll keep your accounts in order and maximise your deductions.

10. What accounting software do you recommend for small businesses?

There are many to choose from including Xero, Sage, Freeagent and QuickBooks. Most platforms make bookkeeping simple, automate invoicing, and allow you to view real-time financial data from anywhere. We can advise on the best option for your business.

11. What is Making Tax Digital (MTD)?

Making Tax Digital is a UK government initiative requiring most businesses and landlords to keep digital records and file tax returns using approved software. We’ll help you register, set up the right tools, and stay compliant.

12. How can an accountant help my business grow?

Beyond compliance, an accountant provides valuable insights into cash flow, profit margins, and strategic decisions. At Thobani Accountants, we help Peterborough businesses plan for growth, manage budgets, and make smarter financial choices.

13. Do you provide VAT accounting and advice?

Yes — we provide full VAT accounting services for businesses in and around Peterborough.

We’ll register your business for VAT (if required), prepare and file quarterly VAT returns, and ensure you’re on the most suitable VAT scheme — whether that’s Standard, Flat Rate, or Cash Accounting.

We also review your records to make sure you’re claiming back the right input tax and avoiding penalties.

14. Do I need to register for VAT?

You must register for VAT if your business’s taxable turnover exceeds £90,000 (the current UK threshold).

However, some businesses choose to register voluntarily below this limit to reclaim VAT on expenses or enhance their professional image.

We can help you decide whether VAT registration is right for you — and handle the process with HMRC.

15. Can you manage payroll for my business?

Yes — we provide a complete payroll service in Peterborough, including payslips, PAYE submissions, pension auto-enrolment, and end-of-year returns (P60s).

Our payroll team ensures your staff are paid correctly and on time, while staying fully compliant with HMRC requirements.

16. What’s included in your payroll service?

Our payroll packages typically include:

  • Monthly or weekly payroll processing

  • PAYE and National Insurance calculations

  • Auto-enrolment pension setup and submissions

  • Real Time Information (RTI) reporting to HMRC

  • Year-end documentation (P60s, P45s, P11Ds)

17. How quickly can you prepare my accounts or tax return?

We aim to complete most year-end accounts and tax returns within two to three weeks, depending on the information provided. We’ll always confirm your timeline at the start so you know what to expect.

18. What’s the best way to contact you?

You can call us, email, or fill out our contact form. We also offer video consultations for convenience.

Our office is based in Peterborough, and we’re happy to meet in person by appointment.