Frequently Asked Questions — Tarka Accounts

Question 1

How do I get started with Tarka Accounts?

Accepted Answer

Simply get in touch by email, phone or WhatsApp. We will have a free, no-obligation chat to understand your situation and confirm which services are right for you. Most clients are fully set up within a few days.

Question 2

Do I need to come into your office?

Accepted Answer

Not at all. We work with clients across North Devon and beyond entirely remotely. Everything can be handled by email, phone or WhatsApp — whatever suits you best.

Question 3

I already have an accountant. Can I switch to Tarka Accounts?

Accepted Answer

Yes, and it is easier than you think. We handle the professional clearance process on your behalf — contacting your existing accountant and requesting your records. There is no awkward conversation for you to have.

Question 4

How much do you charge?

Accepted Answer

Our pricing is transparent and fixed — no hidden fees. The cost depends on the services you need and the complexity of your accounts. Contact us for a free, tailored quote.

Question 5

When is the self assessment tax return deadline?

Accepted Answer

The deadline for online self assessment tax returns is 31 January following the end of the tax year. For example, for the 2025/26 tax year (ending 5 April 2026), the deadline is 31 January 2027. Paper returns must be filed by 31 October. We keep track of your deadlines so you never miss one.

Question 6

Who needs to complete a self assessment tax return?

Accepted Answer

You need to complete a self assessment return if you are self-employed, a sole trader or a partner in a business partnership. You may also need to file if you have untaxed income such as rental income, investment income or income over £100,000.

Question 7

What information do I need to provide for my tax return?

Accepted Answer

We typically need your UTR (Unique Taxpayer Reference), National Insurance number, details of your income and expenses for the tax year, and any other relevant income such as employment, rental or investment income. We will guide you through exactly what is needed.

Question 8

What happens if I miss the tax return deadline?

Accepted Answer

HMRC will issue an automatic £100 penalty for a late return, even if there is no tax to pay. Further penalties apply the longer the return remains outstanding. We help you stay ahead of deadlines so this never becomes an issue.

Question 9

What is Making Tax Digital (MTD)?

Accepted Answer

Making Tax Digital is HMRC's programme to move tax record-keeping and submissions online. MTD for VAT is already mandatory for VAT-registered businesses. MTD for Income Tax (MTD ITSA) is being rolled out for sole traders and landlords with income above certain thresholds.

Question 10

Does MTD for Income Tax affect me?

Accepted Answer

MTD for Income Tax applies to self-employed individuals and landlords with qualifying income above £50,000 from April 2026, and above £30,000 from April 2027. Lower thresholds are expected to follow. We can confirm whether and when it applies to you.

Question 11

What software do I need for Making Tax Digital?

Accepted Answer

You will need HMRC-recognised software to keep digital records and submit quarterly updates. We work with a range of MTD-compatible platforms and will recommend the best option for your business — or work with software you already use.

Question 12

Can Tarka Accounts handle my MTD submissions?

Accepted Answer

Yes. We can set you up with the right software, manage your quarterly updates and handle your end-of-period statement and final declaration. You will not need to worry about the technical side.

Question 13

Should I set up a limited company?

Accepted Answer

It depends on your circumstances. A limited company can be more tax-efficient once your profits consistently exceed around £30,000–£40,000 per year, and it offers limited liability protection. However, it also brings more administration. Our Should I Go Limited? guide covers the key considerations, and we are happy to talk it through with you.

Question 14

What accounts does a limited company need to file?

Accepted Answer

Limited companies must file annual statutory accounts with Companies House, a Corporation Tax return with HMRC, and a confirmation statement each year. Directors may also need to complete a personal self assessment tax return.

Question 15

What is the current Corporation Tax rate?

Accepted Answer

From April 2023, the main Corporation Tax rate is 25% for profits over £250,000. A small profits rate of 19% applies to profits up to £50,000, with marginal relief for profits between the two thresholds.

Frequently asked questions.

Getting started

Self assessment & tax

Making Tax Digital

Limited companies

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