It’s a requirement of every limited company to produce full accounts on an annual basis. We can help!
Do you need full accounts for your small business?
If you’re self-employed, you may need to produce annual business accounts for small business tax returns.
Annual accounts will allow you to complete an accurate tax return which will tell HMRC how much tax you owe. In most cases, it’s better to get a qualified professional to complete your accounts and business tax returns for you.
What are annual business accounts and do you need them?
Full business accounts are a summary of your business’ financial activity over a 12 month period. They are submitted to Companies House and HMRC every year.
Full accounts consist of a Profit and Loss Statement, Cash Flow Statement and a Balance Sheet.
Who needs an accounting service for small business tax returns?
Anyone who makes money aside from regular employment will need to file tax returns. Countplus provides full accounts for contractors, limited companies, startups and sole traders.
How do you know which accountant to choose for your business?
Choosing the right accountant to prepare your annual accounts is vital because they will become an integral part of your business.
An experienced accountant for small business tax will:
Check through your financial records for accuracy
Ensure annual accounts are completed on time for the deadline
Help you through Self Assessment at the end of the year
Guide you through the process, providing advice throughout the year
Set your mind at ease
If you’re not completely satisfied with your current accountant, it’s easier than you think to switch—click here to find out more.
Why you need a chartered accountant for businesses to complete accounts
Rather than trying to do it all yourself, it’s always best to hire experienced, qualified chartered accountants for small businesses.
Chartered accountants are those qualified to take on a number of specific accounting and tax responsibilities including auditing, filing limited company tax returns and providing financial advice.
Hiring a chartered accountant for your small business in Nelson or Warrington has the following benefits:
It’ll save you time you can spend elsewhere on your business
You won’t have to stress about whether you’ve done it all right
It ensures your accounts are accurate and submitted on time
You’ll be represented by a professional in case something goes wrong or you’re investigated.
The last thing a growing business needs is to submit an incorrect tax return or even miss a deadline. Either scenario could end with some pretty hefty fines.