Annual Accounting Service
Our annual accounting service is aimed at those business owners:
- who have a strong understanding of the business and tax environment in which they operate and are comfortable with undertaking the day-to-day financial and company secretarial administration themselves; or
- whose business is not active throughout the year and believe that the annual service represents better value for money; or
- whose business is dormant or consists mainly of holding investments and is no longer exposed to significant compliance issues day to day.
We provide you with an Excel spreadsheet based accounting system, along with detailed guidance notes to assist you with accurately recording the transactions of your business throughout the year. Once you have recorded your transactions you submit those details, together with any supporting information such as bank statements, sales invoices, expenditure receipts and wages details as scanned images by email or hard copies in the post. We do the rest.
Where you prefer to use your own accounting system we are happy to accept an alternative format, provided it is sufficient for our purposes.
End of Year Accounts
Based upon the accounting information supplied to us, we prepare the annual accounts for your business and present them to you in a form that is acceptable to HMRC. Once you have approved your accounts and returned them to us with any supporting declarations they are submitted to HMRC on your behalf. Where your business is operated as a limited company or a limited liability partnership the form and content of financial statements must comply with detailed disclosure requirements and the business has the added requirement of submission to Companies House.
Our annual accounting service includes the completion of business tax computations, the completion of business tax returns (Corporate or Partnership) and their submission to HMRC. We will advise you of the amount of tax due and the payment due date.
We will correspond with HM Revenue & Customs, on your behalf, in respect of the computations and submissions undertaken as part of the annual accounting service. You simply send the relevant correspondence to us and we respond as appropriate and advise you of the action that should be taken.
If your business operates through a limited company or a limited liability partnership then our service will include assisting with matters relevant to Companies House, including:
- Submission of statutory accounts
- Completion of an Annual Return*
- Notice of appointment, resignation and / or change of particulars of Directors or Secretary (Members)
- Notice of change of accounting year
- Notice of change in Registered Office
* We submit Annual Returns online, enabling you to benefit from a reduced online filing fee of £15 (£30 if a paper return is filed). The filing fee is not included in your annual accounting service fee, and will be requested when the form is due to be submitted to Companies House.
In appropriate circumstances we can provide a Registered Office for either a limited company or a limited liability partnership.
PAYE Annual Returns and IR35
Each year, a business with employees must complete end of year procedures in respect of payments it makes to those employees including Form P35 and Form P11Db for the employer and Forms P14, P60 and P11D for each employee. Our annual accounting service includes full assistance with the preparation of these forms and their submission to HMRC.
Personal Tax and Self Assessment
Our annual service does not generally include preparation of your personal self assessment tax return, although by discretion this may be included if your return is basic in nature.
Our annual fee depends upon the activity of your business. Our policy is to mutually agree the annual fee in advance and to agree the basis upon which our service is provided and the information expected from you. The following table indicates the typical fixed fees that may be expected:
|Activity of the company||Typical annual fee*|
|Partial trading||from £465|
|Investment or asset holding||from £405|
*These are illustrative rates. For a full review of your account needs, contact us today.