Year End Accounts Prepared Accurately and Filed On Time

A private limited company must file its annual accounts with Companies House within nine months of the end of its financial year, and a new company’s first accounts are due 21 months after the date it was incorporated. The Corporation Tax return is due 12 months after the end of the accounting period, and the tax itself is usually payable nine months and one day after it ends.

Companies House charges an automatic penalty for late accounts, which rises the later they are and is doubled if accounts are late two years in a row. HMRC charges separate penalties for a late Corporation Tax return. Persistent failure to file can also lead to the directors being prosecuted or the company being struck off the register.

Sole traders and ordinary partnerships do not file accounts at Companies House, but they still need accurate year-end figures for their tax returns, and partnerships file a partnership return as well. Well-prepared accounts make sure you are taxed on the right profit, and lenders, landlords and mortgage providers often ask to see them.

Mainly your bookkeeping records and bank statements, along with details of any loans, assets bought or sold, stock, and money owed to and by the business at the year end. We send you a clear checklist after your year end, and if we already keep your books, much of this is already in hand.

The fee depends on the size and complexity of your business and the state of your records. After a short conversation, we give you a clear quote in advance, with no unexpected charges later. Well-organised records usually keep the cost down.