You are totally within your rights to change accountants whenever you want. Switching to ABMV is as easy as 123.

• Inform your current accountant in writing – write a formal disengagement letter to your current accountants as they will need to provide details of work they have carried out so far.

• Professional clearance letter – Your new accountant will need to write to your previous accountant requesting any relevant paperwork.

• Assigning authority – you will need to assign authority to your new accountants for your tax affairs so they can file returns on your behalf.

The tax year runs from 6th April to 5th April each year.

For the tax year 2023-2024 if you are submitting a paper tax return you must submit it by midnight on 31st October 2024 and if it’s online by midnight on 31st January 2025.

If you are setting up as a limited company it is a legal requirement to have a business bank account. If you are a sole trader it is optional, but we would always recommend one as it's simpler to separate your personal and your business finances.

There are many different options available. Self Employed, Sole Trader or Limited Company.

Depending on individual circumstances we can advise and guide whats right for you and your business.

Read our articles on Self Employment and Limited Companies to decide which option is best for you.