Currently, every Limited Company and Sole Trader business has a statutory obligation to produce accounts annually for the relevant authorities, typically HM Revenue & Customs and Companies House (for Limited Companies). This is a job that someone has to do and most accountants do that job.
To do this and to keep your accounts and record keeping updated and in real time, we have all clients’ accounts uploaded onto the Xero software which is a cloud based secure and encrypted accounting software system. With the HMRC introducing Making Tax Digital in the near future, these filing and update timeframes are likely to change so it is important to have your accounts online for easy access.
One of the key objectives in accounts preparation is to ensure that the accounts are compliant with all the statutory regulations, and takes advantage of any taxation deductions available.
In addition, we like to gain a full understanding of your business so that we are able to give general tax advice and recommendations tailored exactly to your requirements. We believe that accounts preparation in itself can give a massive insight to your business and gives the bigger picture, to help with both the short-term objectives and long-term goals of the owners.
We take the time to explain your accounts to you so that you understand what is going on financially within your business, helping you to plan for the future.
We handle Annual Accounts and Filings for; Sole Traders and Small and Medium Limited companies- and we'd be happy to talk to you any time about yours.