A company’s year end can be a daunting job for the first-time limited company owners, but with our efficient team, you’ll know what exactly you need to do.
A company “Year End” is the final date when your company’s accounting period ends. Well, it’s also the alarm date for a limited company to send specific documents to HMRC and Companies House.
Before you think of preparing your Company Tax Return and Annual Accounts, get in touch with us & we’ll assure you get out from the heck of all of it – we do it simple and best.
Our Full Year End Services: -
- Self Assessment for partnership & sole trader accounts
- Profit & Loss statement
- Balance sheet, Control accounts, lead schedules
- Reconciliation
- Timely submission to Companies House & HMRC
- Dormant Company accounts
You must share the copies of your annual accounts to:
- all shareholders
- Members taking part in the company’s general meetings
- HM Revenue & Customs (HMRC) as part of your Company Tax Return
- Companies House
What You Need to File with HMRC?
Company Tax Return
Your company tax return carries the details of your company’s income, any tax allowances and expenses. The rest amount – your profit is then used to determine the amount your company need to pay as the Corporation Tax.
Annual Accounts
Your annual/ statutory accounts that you need to submit to HMRC contains the following:
Income Statement – The Income statement reveals the profits or loss made by your company in a specific accounting period.
Financial Statement – Your financial statement displays the cumulative value of your business assets, liabilities, capitals and reserves at the end date of your accounting period.
Footnotes – It showcases the transactions between your company and its directors such as loans, advances and guarantees.
What You Need to File with Company House
If you are preparing your financial report for micro entity then – all you need is to submit two documents from your Annual Accounts to Companies House: The statement of Financial Position and the Footnotes. It will then be published on the website of the Company House from where anyone can view it.
Our Year-End Services Explained...
Before you think of preparing your Company Tax Return and Annual Accounts, get in touch with us & we’ll assure you get out from the heck of all of it – we do it simple and best.
We get your expenses in order to claim all that you spend as your business expense in order to cut on Corporation Tax. The less profit means less tax to pay.
HMRC directs every penny used for a business expense to be claimed under the expense list. Our accountant will advise you on what you can and can’t claim. We at Smooth Feathers Accountants will make sure – your company year end gets as accurate as possible to chase up any unpaid invoices that you may have.
Not just that, we’ll also put together all your records and receipts to back them up – from supplier’s account statements, bank copies and credit card statements from all possible financial centres and any other income records that you might have. We retain them for six long years from the last accounting period – as per the HMRC rules.
We also double-check the 12 months deadline period for your tax return and 9 months deadline for Corporation Tax bill – that saves your company from penalties.
Connect with us today to secure your year ends with us & leave back the heck of tracking your annual accounts