Accounts and Tax Returns

Rest assured: we’ll cut through all the bureaucratic red tape involved in preparing your accounts and tax returns filing with Companies House, and take the worry of dealing with the taxman off your hands.

As you’d expect, our standard Accounts and Tax Returns Compliance package includes:

  • Preparation of your accounts – whether you’re a sole trader, partnership or limited company – and abridged accounts if applicable.
  • Dealing with all your business tax matters, including preparation of your income, partnership or corporation tax computations and returns where appropriate.
  • Calculate your tax liability.
  • File the return online.
  • Liaise with you on the amounts to be paid and when they are due.
  • Handling correspondence from HM Revenue & Customs.

However, in addition we will also support your business with unlimited telephone support to address any issues, ideas and correspondence from HMRC.

We will also carry out two meetings per year which include:

  1. A pre year-end tax planning meeting to ensure you’re aware of any opportunities available to minimise your tax.
  2. A post year-end meeting to make sure you’re on track and deal with any queries you have.

Companies House Accounts

Businesses are required to file company accounts within 9 months of the end of year of your accounting period (which is usually 12 months). Depending on your size, this is a balance sheet or statement of financial position and possibly an income statement.

These accounts need to be prepared using financial reporting standards such as FRS102 and FRS105. Put simply, these standardise accounts preparation so that easy comparisons can be made and everyone knows the assumptions made.

The company house accounts can be filed online or via post. Although not always complex, the hassle of this when not familiar can be a real burden.

Corporation Tax Returns 

HMRC require iXBRL accounts and the Corporation Tax return (CT600) to be filed once a year. These need to be filed within 12 months of the year end, however most companies file at 9 months to tie in with the accounts going to Companies House and the payment deadline for the Corporation Tax. The return has a very specific format making it difficult to be submitted without using an accountant.

Personal Tax Return

Completing a Personal Tax Return, otherwise known as a self-assessment, is a requirement of every limited company director and shareholder. It can prove to be a time-consuming and sometimes stressful task, especially if left to the last minute. Completing a self-assessment involves reporting your personal earnings for the relevant tax year (including dividends) and filing your return by the 31st January deadline. Missing the deadline will land you with an instant £100 late penalty, and further penalties the longer you wait to file.