What are accounts?

Accounts are a report of what goes on before and after bookkeeping.

Accounts are not just figures to send to HM Revenue & Customs.

You should be able to assess what is happening from your accounts – helping you to take control of your business and improve its profitability!

PROFIT

• Where is it?
• Where did it come from?
• How did you make it and can you make more?
• Do I need to change anything?
• What is your business worth?

Accounts in themselves are not that exciting however the great thing about them is they help you to monitor your business and measure progress - and this can be both motivating and extremely rewarding!

What responsibilities do I have as a business owner?

As the head of your own business, you are inclined to make it as profitable as possible within the limits of the law. You are then legally required to pay certain taxes as well as submit returns and forms to HMRC and Companies House. 

Documents required to be filed are dependent on the size and nature of your business, but the most common ones that are necessary for submission by Limited Companies are:

• Confirmation Statement
• Corporation Tax Return
• Employee Related Shares (ESR) Return
• P60
• P11D
• PAYE & CIS filings
• VAT Return
• Year-end Accounts

How do I switch from my current accountant?

We believe that your accountant should have a firm grasp on how you run your business, inform you of the state of your finances, and keep you informed of tax law changes. If you are not satisfied with your current accountant, we offer a free initial consultation to discuss how we could meet your needs.

We will communicate with HMRC, Companies House, and your current accountant your intention to hand over the accounting work to us. The process includes a disengagement letter and professional clearance with your existing accountant. We will endeavour to make the transition as smooth as possible.