For all limited companies registered in England & Wales, accounts are required to be submitted, by law, on an annual basis to Companies House and HMRC. In addition, the company's corporation tax return (the CT600) also needs to be submitted at the same time along with any payment due.
Bookkeeping is the recording of the financial transactions of the business, and is part of the process of accounting in business. Transactions include purchases, sales, receipts and payments by an individual person or an organization.
Sole Trader or Limited Company? When starting out in business, one of the first things to do is decide if you want to operate as a sole trader or limited company. Each option has its pros and cons. Click on the link to see further details.
If you are required to register for VAT, then you will also have the requirement to submit VAT returns. It is also possible to submit a VAT reclaim if you travel on business in the EU.
Whether you are self-employed or a company director then you will need to complete a self-assessment tax return each year. Click the link for further information.
We take care of all your monthly payroll needs, providing you with digital payslips and summaries of your tax liabilities where appropriate as part of your package cost.
These days, the easiest option for all contractors is to use an online accounting firm. By using online accountants, you will be able to utilise the latest cloud accounting software that enables sole traders and limited companies to enter their monthly bookkeeping records into an online system. You can save time by eliminating the need to physically visit and accountant or bookkeeper.