Each year HMRC require businesses of all types to submit annual accounts and tax returns to assess how much tax is due for that period.
Limited companies and LLPs have to submit accounts to Companies House within nine months of the company’s year end to avoid any penalties, whilst they have an extra day after this to pay any corporation tax due to HMRC before any interest is applied.
Company accounts also need to be submitted to HMRC in the correct format within twelve months of the company’s year end but we find it best practice to file all of the accounts at the same time.
Sole traders and partnerships also prepare annual accounts but these figures are summarised on the taxpayer’s self assessment tax returns which are then submitted by the 31st January each year to avoid any penalties.
We prepare annual accounts for sole traders, partnerships, clubs and limited companies each year.
Our largest client has an annual turnover of just under £10 million, whilst we also prepare tax returns for sub-contractors who have annual turnovers of around £5,000 – so we do to think that no business is too large or small for our practice.
If you think we can be of help to your business then please do not hesitate to get in touch with us.
Get a free consultation
9 Oakwood Rise
01792 – 346222