Most businesses operating in the UK are required to submit accounts to HMRC at least once per year. These accounts help HMRC to work out how much tax you owe.
Accounts and Returns of this nature are a regulatory requirement, and failure to submit them correctly and on time can result in significant fines.
Avoiding fines is not the only reason to keep your records up to date. Keeping accurate and timely accounts means that you will be able to understand the cash-flow of your business in great detail, meaning that decisions about growth and financing are informed and safer. You’ll also be able to detect issues as they arise, before they become a critical problem.
In short, you’ll understand how much money your business is making, and what you can do improve.
The records of Limited Companies and LLP’s become publicly searchable, meaning your business s (clients, customers and suppliers) can check your reliability.
HMRC has its own requirements for Returns to be submitted based on your type of business, but aside from these requirements, interim reports can be produced for internal business use. These can be put together to coincide with your business’ key cycles, whether they are monthly or quarterly, and management-level financial reports can ensure accurate information is presented and available for decision making.
Jacky Gregory Accountants offers the following services:
- Annual Accounts Preparation
- Book-Keeping
- Business Planning
- Construction Industry Scheme Services
- Corporation Tax
- Financial Planning
- Management Reporting
- On-site or Off-site Book-keeping Services
- Personal Income Tax Returns
If you don’t see the service you need in this list, or you’re not quite sure what your needs fall under, feel free to contact us. We’re more than happy to chat about anything you might need.