As your business grows then your bookkeeping and accounts grows with it. From your books and records we will prepare your annual accounts (or year end accounts) that will form the basis of your self assessment tax return, whether you are a sole trader, partnership or limited company.
If you set up your business as a limited company, an annual return must be filed and submitted every year, together with abridged accounts to the Registrar of Companies. Failure to do so will result in substantial penalty fees and possible strike-off proceedings, as well as loss of the audit exemption for 2 years if applicable. The first Annual Return is due 6 months after incorporation (no accounts required).
They will also be invaluable for providing information about your business to financial institutions for example for mortgage applications. We will advise you on ways to strengthen your record keeping that will assist you in meeting your statutory obligations such as VAT and tax returns and managing your affairs.