YEAR END ACCOUNTS - SOLE TRADER & PARTNERSHIP
If you would like to do your own bookkeeping, you will need to produce a set of accounts at the end of each financial year in order to complete your tax return(s). Your tax return is due by the 31st of October if submitted by post, or by 31st of January if submitted online. If you bring us your bookkeeping records in good time, we can prepare your year end accounts and complete your tax return(s) for you. Please bear in mind that tax returns submitted after the Inland Revenue deadline will incur a penalty.
We have dedicated Tax Return software to enable us to submit your tax returns online. We are therefore able to provide you with emailed copies of all accounts and tax returns, and proof of submission to Inland Revenue.
It is essential that you keep proper accounting records during the year to enable us to prepare your accounts. Waiting until you need to do your tax return not only means you have no idea how you are doing, but you will be in trouble with Inland Revenue should they select you for a compliance review.
Inland Revenue at any given time will expect to see:
If records are not being kept to their satisfaction they may charge a compliance penalty. Please see our section on bookkeeping to give you some ideas on how we can help you maintain accurate and compliant records.
Please give us a call for your FREE no obligation initial consultation (up to 1 hour). We look forward to hearing from you.
If you would like to do your own bookkeeping, you will need to produce a set of accounts at the end of each financial year in order to complete your tax return(s). Your tax return is due by the 31st of October if submitted by post, or by 31st of January if submitted online. If you bring us your bookkeeping records in good time, we can prepare your year end accounts and complete your tax return(s) for you. Please bear in mind that tax returns submitted after the Inland Revenue deadline will incur a penalty.
We have dedicated Tax Return software to enable us to submit your tax returns online. We are therefore able to provide you with emailed copies of all accounts and tax returns, and proof of submission to Inland Revenue.
It is essential that you keep proper accounting records during the year to enable us to prepare your accounts. Waiting until you need to do your tax return not only means you have no idea how you are doing, but you will be in trouble with Inland Revenue should they select you for a compliance review.
Inland Revenue at any given time will expect to see:
- Records of all receipts and expenses
- Records of what your receipts and expenses relate to, i.e. how they were incurred in the course of your normal business activities
- Records of all transactions relating to dealing in goods
- PAYE records
- VAT records
If records are not being kept to their satisfaction they may charge a compliance penalty. Please see our section on bookkeeping to give you some ideas on how we can help you maintain accurate and compliant records.
Please give us a call for your FREE no obligation initial consultation (up to 1 hour). We look forward to hearing from you.