I already have an accountant, is it going to be difficult to switch?
The simple answer is that it's quite straightforward. We will take care of virtually everything, including all matters relating to Inland Revenue, Companies House etc. We can let your existing accountant know you are changing, they are then required to pass over all books and records. This means we can see exactly what has been done for your business in the past and what we need to plan for in the future. We then require your signature to confirm we will be acting for you.
When must I prepare my Company accounts?
Company accounts are due to be filed at Companies House nine months after the end of your financial year. Any corporation tax due is payable nine months and a day after the end of your financial year.
When must I pay my tax?
If you are self-employed, your self-assessment tax return must be filed before 31st January following the end of a tax year to avoid penalties and fines. For example, a 2011 tax return must be submitted by 31st January 2012. We recommend completing your tax return well in advance of this date so we have time to check and advise you of any opportunities to reduce your bill.
Most limited companies pay their Corporation Tax nine months after the company year end. 'Large' companies are now required to make 'quarterly' payments on account. A company is 'large' if it pays corporation tax at the full rate.
How long should I keep my business records?
Records should be kept for a minimum of six years for Inland Revenue purposes. A VAT Inspector will usually only go back over three years when undertaking a routine inspection.