Description
Small companies must include the following in their annual accounts and tax return:
- Profit and loss statement (also called an income statement)
- Balance sheet
- Director’s report
- Notes to the financial statements
Larger companies must also include a cash flow statement and a statement of changes in equity. In some cases, an auditor’s evaluation is required.
The original annual accounts document must be retained by the management board, and a copy must be submitted to Companies House. Additionally, the corporation tax return must be filed with HM Revenue & Customs (HMRC). We will assist in filing the required information with the relevant authorities.
Included with the UK annual report:
- Preparation of Full Statutory Accounts – The annual accounts are prepared in accordance with UK accounting standards, specifically FRS 102 Section 1A (Small Entities) for small businesses or FRS 105 (Micro-Entities) for very small companies. These standards ensure compliance with financial reporting requirements while simplifying disclosures for eligible companies.
- Corporation Tax Return (CT600) Submission – A corporation tax return is prepared for the corresponding accounting period(s), calculating the company’s taxable profits and any tax liabilities owed to HM Revenue & Customs (HMRC).
- Filing of Annual Accounts and Corporation Tax Return – The prepared accounts and tax return are submitted to Companies House and HMRC within the statutory deadlines to ensure compliance and avoid penalties
Available for an extra fee:
- Accounting if the accounting for the financial year is not done
Process flow:
- Preliminary Quote – We will provide an initial quote after reviewing the accounting records for the period. The quote is based on the number of bank transactions, the volume of sales and purchase invoices, and the review of other accounting documents such as expense receipts and supporting financial records.
- Accounting Records Completion – If necessary, our bookkeepers can assist in bringing your accounting records up to the required level of completeness. This typically involves working from primary accounting records, such as bank statements, invoices, and other financial documents.
- Accounts Preparation & Review – Once we have received all required accounting records and supporting documents, we will prepare the annual accounts and corporation tax return for the company directors to review and approve.
- Submission & Follow-up – After approval, we will submit the documents to Companies House and HM Revenue & Customs (HMRC) and provide guidance on any necessary follow-up actions.
Important information:
- Annual accounts submission is mandatory for all UK limited companies, even if the company had no economic activity during the accounting period.
- Accounting must be completed before compiling the annual report to ensure accuracy and compliance with financial reporting requirements.
- DESCRIPTION
Small companies must include the following in their annual accounts and tax return:
- Profit and loss statement (also called an income statement)
- Balance sheet
- Director’s report
- Notes to the financial statements
Larger companies must also include a cash flow statement and a statement of changes in equity. In some cases, an auditor’s evaluation is required.
The original annual accounts document must be retained by the management board, and a copy must be submitted to Companies House. Additionally, the corporation tax return must be filed with HM Revenue & Customs (HMRC). We will assist in filing the required information with the relevant authorities.
Included with the UK annual report:
- Preparation of Full Statutory Accounts – The annual accounts are prepared in accordance with UK accounting standards, specifically FRS 102 Section 1A (Small Entities) for small businesses or FRS 105 (Micro-Entities) for very small companies. These standards ensure compliance with financial reporting requirements while simplifying disclosures for eligible companies.
- Corporation Tax Return (CT600) Submission – A corporation tax return is prepared for the corresponding accounting period(s), calculating the company’s taxable profits and any tax liabilities owed to HM Revenue & Customs (HMRC).
- Filing of Annual Accounts and Corporation Tax Return – The prepared accounts and tax return are submitted to Companies House and HMRC within the statutory deadlines to ensure compliance and avoid penalties
Available for an extra fee:
- Accounting if the accounting for the financial year is not done
Process flow:
- Preliminary Quote – We will provide an initial quote after reviewing the accounting records for the period. The quote is based on the number of bank transactions, the volume of sales and purchase invoices, and the review of other accounting documents such as expense receipts and supporting financial records.
- Accounting Records Completion – If necessary, our bookkeepers can assist in bringing your accounting records up to the required level of completeness. This typically involves working from primary accounting records, such as bank statements, invoices, and other financial documents.
- Accounts Preparation & Review – Once we have received all required accounting records and supporting documents, we will prepare the annual accounts and corporation tax return for the company directors to review and approve.
- Submission & Follow-up – After approval, we will submit the documents to Companies House and HM Revenue & Customs (HMRC) and provide guidance on any necessary follow-up actions.
Important information:
- Annual accounts submission is mandatory for all UK limited companies, even if the company had no economic activity during the accounting period.
- Accounting must be completed before compiling the annual report to ensure accuracy and compliance with financial reporting requirements.
