FAQs

Here you’ll find some of the questions we’re commonly asked. From starting out with MAF, to switching from another accountant, we hope you find our answers useful. If you have a question not featured below, just get in touch.

Common questions about starting out

Yes! Our award-winning accountancy software is entirely web-based, and keeps all of your numbers in one place. All of your data is encrypted with 256-bit SSL technology (the same technology used by banks) when being transmitted to and from the MAF platform, so it’s kept secure at all times. We also back-up your data several times an hour. These back-ups are encrypted and transferred to a secure offsite location.

MAF is the ideal solution for business owners that cannot afford a bookkeeper but don’t want to be bogged down with administration. We are striving to eliminate bookkeeping for all small businesses. With our award-winning software and our multi-talented qualified accountants we have the perfect match for your business.

We get to know your business, compare you to others in the same market and make sure you are as tax efficient as you possibly can be.

If you are a start-up business, we can open you up to our networks – every little bit helps.

Call us on 0207 100 6011 and speak to the sales team for more information on how we can help.

As well as dealing with Companies House on your behalf we will handle the following for you:

– Memorandum of articles and certificate of incorporation.
– Share Capital structure to suit tax planning.
– HMRC registration for VAT and PAYE.
– Business Bank Account forms with preferential banking rates.
– Preferential rates of insurance and personal insurance.

Common questions about switching to MAF

As soon as you’ve signed up for our services and informed your current accountant you want to terminate their services, we’ll get in touch with them to initiate the transfer. They are legally obliged to hand over your files and historical information once you’ve settled any outstanding fees, and the whole process usually takes a maximum of 28 days.

For historical accounts there will be an agreed fee before work commences, based on your current bookkeeping and accuracy. Mid-year sign ups will be charged a minimum of ten months’ fees to prepare the accounts. There is no minimum contracts or leaving fees.

Common questions about referring a friend

There’s no limit to the number of people you can refer – you’ll just receive a bigger discount! If you refer more than ten clients to us, we will refund you more than your annual accountancy fee, on the 10% basis.

Common questions about choosing a business bank account

It’s extremely important to separate your personal and business finances, and while it may be legal in certain circumstances to run your business through your personal account it can store up all sorts of tax and legal problems down the line. So make sure you open a business account before you want to start trading.

MAF works in partnership with the best high street banks, and have a range of Bank Feeds including Metro Bank, Carter Allen, HSBC, RBS, Natwest, Lloyds, Santander, Halifax and First Direct.

Rather than downloading and uploading electronic statements, MAF allows you to import your transactions directly from your online bank account via Bank Feeds. It’s a quick and easy way to stay on top of your transactions. Bank Feeds are an optional feature, so if you don’t want to use them you can still manually upload your statements.

Business (and personal) credit cards can be used as a way of paying for business expenses, and work on our accounting platform in the same way as bank accounts. When you use a credit card for business expenses you can upload them to MAF and keep all your accounts in one place.

Common questions about finding the right business insurance

We don’t provide Business Insurance services directly, but we’re happy to recommend a number of trusted providers we’ve worked with for a number of years and have agreements with. If you have any questions around insurance, drop us a line and we’ll happily tell you more.

The type of insurance cover you’ll need depend on the risks you or your business is exposed to. If you have business premises and you employ people, you are legally obliged to have employers’ liability insurance. Some professions also require you to have professional indemnity insurance, and you may want to take out cover to protect you or key members of staff if they become unable to work. As always, speak to the experts about your needs.

Common questions about Registered Office Services

When you form a limited company you will need to provide an address to be used as your registered office. This can be your home address – or, if you prefer, you can use the MAF offices as your designated register office. This means we’ll receive any correspondence from HRMC and Companies House on your behalf, so you can be sure you won’t miss out on any important documents arriving in the post.

As well as us receiving documents on your behalf we can also deal with HRMC or Companies House directly, leaving you free to concentrate on your business. If there’s anything important you need to deal with, we’ll let you know in plenty of time.

We charge a small monthly fee. Speak to one of our specialist accountants if you’d like to know more about the service.