FAQs

Questions,answered plainly.

What people ask before they get in touch: how the work is organised, how it starts and what each service covers. If your question is not here, ask it.

01

Working with Nomic

Who we work with, what the work is and how it is agreed.

Who does Nomic & Co. work with?

We work with owner-managed SMEs, limited companies and their directors, and selected self-employed clients. What they have in common is not a sector. It is wanting the figures to be right, and to be useful. There is more on the Who we help page.

What is the difference between compliance, insight and advisory?

Compliance is accounts, tax and filings done correctly and on time. It produces reliable numbers. Insight turns those records into a current understanding of the business: where it stands, what is changing and why. Advisory is an experienced view on the decisions in front of you, grounded in those figures.

Not every business needs all three. The relationship can stay focused on compliance, or extend into insight and advisory where that adds value. The Services page sets out the work in full.

How much does it cost?

It depends on the work, so the fee is agreed with you rather than quoted in advance of knowing the business. We set out the work, the responsibilities and the fee before anything begins, so both sides know what is included.

02

Getting started and switching

What happens when you get in touch, and what changing accountant involves.

What should I include in a first email?

A few lines are enough: what the business does and how it is set up, who looks after your accounts and tax today, the support you think you need, and anything with a date attached, such as a filing deadline or a letter from HMRC. Please do not send sensitive financial, tax or identity information in a first email.

What happens after I get in touch?

We learn how the business operates and what support you already have. We talk through what would suit it, and say plainly what would not add anything. If we go ahead, we agree the work, the responsibilities and the fee, and then a practical handover and the information, access and systems needed for a clean start. Nothing starts until the scope and fee are agreed.

How do I switch from my current accountant?

Tell us who looks after your accounts and tax now, and whether anything is due soon. We agree a practical transition with you, including what we need from you and from your previous accountant. If you are not sure whether a change is right, you can ask us before deciding. To start, contact us.

03

Accounts, tax and compliance

The core compliance work, and where its boundaries are.

Do you provide bookkeeping?

Yes. Bookkeeping is one of our compliance services, and its aim is clean, reliable records. Reliable records are the foundation for accounts, tax and any useful analysis or advice. What we do for you, and how your records are kept, is agreed as part of the scope.

Can you run payroll, and do you support CIS?

We provide payroll processing and routine payroll compliance. We also support contractors and subcontractors with CIS, subject to agreed scope. We confirm the detail with you when we agree the work.

Do you handle VAT?

Yes. We support registration, returns and ongoing VAT compliance. If you are unsure whether VAT applies to your business, tell us about it when you contact us and we will say plainly what we think.

Which tax work do you cover, and what about HMRC enquiries?

We prepare annual accounts and the corporation tax computation and return for companies, and Self Assessment returns for directors and the self-employed. We deal with Companies House compliance filings, and with routine administrative HMRC correspondence arising from work already within scope.

HMRC enquiries, investigations, disputes, appeals and disclosures are not part of routine support. They require a separate scope, so please tell us about them at the start.

04

Insight and advisory

The work that goes beyond the year-end.

Will I receive regular management information?

Management accounts, cash-flow and budget work, and performance reporting are part of what we offer under insight. What you receive, and how often, is agreed with you. It is not assumed, and it is only part of your service if it is in your agreed scope.

What does business advisory cover, and what does it not?

Advisory covers a sounding board on running the business and a second view before a significant decision, financial modelling and business planning, growth and profitability support, business structure and funding readiness, and owner and director advisory including remuneration and tax planning where appropriate.

Nomic does not arrange finance, give investment advice or provide regulated corporate-finance services. Funding-readiness support is preparation only.

Still have a question?

Ask us directly.

Tell us about the business and what you need. We will say plainly whether we can help.

Start a conversation hello@nomic.uk