Do I need an accountant?

If you run a limited company

A limited company has to file with both Companies House and HMRC every year. The main deadlines are:

HMRC's free online service for filing company accounts and the Company Tax Return together has closed.² HMRC announced it would close on 31 March 2026.³ Companies now file their tax return using commercial software, or through an accountant who has it.

Most small companies do not need an audit. For financial years starting on or after 6 April 2025, a private company may be exempt if it has at least 2 of these: turnover of no more than £15 million, assets of no more than £7.5 million, and 50 or fewer employees on average. Meeting the size test is not the only condition: other circumstances can require an audit, and shareholders who own at least 10% of the shares can ask for one.⁹ If your company needs one, a registered auditor must do it.

If you are a sole trader

As a sole trader you report your business income through Self Assessment.

• Register for Self Assessment by 5 October after the end of the tax year in which you started. For the 2025 to 2026 tax year, the deadline was 5 October 2026.⁴
• File a paper return by 31 October, or an online return by 31 January. For the 2025 to 2026 tax year that means 31 October 2026 on paper or 31 January 2027 online.⁵
• Pay the tax you owe by 31 January. For the 2025 to 2026 tax year, that is 31 January 2027.⁵

Making Tax Digital for Income Tax means keeping digital records and sending updates to HMRC through software during the year. It applies to sole traders and landlords whose qualifying income (from self-employment and property) is over a set amount. Some people are exempt. HMRC looks at your income in one tax year to decide whether you must start using it in a later one:⁶

VAT

You must register for VAT if your VAT taxable turnover for the last 12 months went over £90,000, or you expect it to go over £90,000 in the next 30 days. Some supplies are exempt and do not count towards this. Check the full GOV.UK registration rules for your business.⁷ VAT returns add more deadlines, and some owners start paying for help at this point.

When you can probably manage on your own

• You are a sole trader with one source of income and few costs.
• You are under the VAT threshold and do not employ anyone.
• You are happy using accounting software and keeping it up to date.

When it may be worth paying for help

• You run a limited company, so you have accounts, a tax return and Corporation Tax every year.
• You are registered for VAT, or close to the threshold.
• You employ people and need to run payroll.
• A bank or investor wants regular figures from you.
• You sell abroad, hold stock or run more than one company.
• You are spending time on paperwork that you would rather spend on the business.

What an accountant costs

Two online accountancy firms we checked on their own websites on 12 October 2026 start at £30 to £49 a month plus VAT for a sole trader, and £75 to £89 a month plus VAT for a limited company.^P Some firms only give prices on request. Two examples cannot show what is typical, and we have not found a reliable survey of what small businesses pay. See How accountancy fees work.

What to do next

If you think you need help, our form asks about your business and suggests what kind of support may fit. That might be a bookkeeper, an accountant, or just software. You see the result before we ask for any contact details.

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