Every business in the UK is required to keep records of their financial transactions, in accordance with HMRC regulation.
Failure to comply with HMRC guidelines can result in fines and penalties. This could be through late-submission, non-submission or incorrect records being submitted. Naturally, it helps to be prepared by keeping all records fully up-to-date; or outsourcing your book-keeping to a trusted professional.
Keeping clear and correct records is not only necessary to avoid fines but also allows an understanding of the ways profits and losses of your business are generated. Knowing how much your business has earned, and how much it can expect to earn in the future will help ensure that all activity is carried out successfully.
Depending on the size of your business, and the key time-frames that you work to, we may work differently, but the types of services we offer include:
- Full management of the book-keeping process
- Keeping all records up-to-date
- Producing and presenting management-level financial reports
- Quarterly VAT returns
- Annual Returns
- Advice on gaining finance and increasing profits