FAQs

Questions we get asked.

A few of the things people most often want to know before they pick up the phone. If your question isn't here, the quickest answer is usually a 30-minute call - book one here and we'll cover it in the first five minutes.

What's involved in switching to Colby & Co.?

Less than you'd expect. We send a short letter of engagement, write to your current accountant for handover, and run a 30-minute kickoff call to understand where you are. Most switches happen in two weeks, and we'll let you know if anything in your file needs attention before we take it on.

Do you handle Isle of Man tax filings specifically?

Yes - Isle of Man personal and corporate tax returns are our day-to-day. We also handle cross-border filings for clients with UK or other jurisdiction obligations, and we work with a small group of trusted specialists for anything we don't do in-house.

How are your fees structured?

Fixed monthly fees in almost all cases - no surprise invoices. We agree the scope up front and the fee with it, then revisit annually or whenever your circumstances change materially. One-off projects (a sale, a restructure) are quoted separately before we start.

Can you take over part-way through a financial year?

Yes. We can pick up bookkeeping, payroll, or full accounts mid-year - we'll do a short review of what's been done so far, flag anything that needs tidying, and carry on from there. Most clients prefer to switch at year-end, but it's not required.

What software do you work with?

Xero is our default and where we're happiest, but we're comfortable with QuickBooks, Sage, and most major payroll systems. If you're already on something that works, we'll work with it. If you're not on anything, we'll suggest the lightest setup that gives you what you actually need.

Are you regulated?

Yes. Colby & Co. is a fictional firm used to demonstrate OLXR's Presence service, but in a real engagement we'd be a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), with the relevant professional indemnity insurance in place. Details are confirmed in our engagement letter before we start work.

Still have a question? Get in touch - the first conversation is always free.