Annual Accounts & Tax Returns
If you’re a private limited company registered in the United Kingdom, then you’re liable to pay 19 percent corporation tax on your profits to the HM Revenue & Customs (HMRC). As a small business owner, you will want to remain as tax efficient as possible, whilst still operating legally when filing taxes.
Operating a limited company can be seen as the professional way to do things when getting bigger contracts and with bigger companies, but at the same time there is a lot to think about to remain competitive, profitable and compliant and an accountant can help with this.
What are Annual Accounts and Who Manages Them?
Annual accounts are special accounts that are created to report the financial activity of a company. The purpose of these accounts is to report the company’s financial position to Companies House who display them online for the public to see as a matter of record. It is also used as the starting place to work out the corporation tax amount that the company has to pay to the HMRC.
Also known as statutory accounts, these are prepared from the financial records of the company at the end of the financial year. The directors of the company are held legally responsible for making sure that the annual accounts are accurately completed and submitted before the statutory filing deadline.
Why choose us as your Accountants?
- Friendly team who understand the needs of small businesses in and around Hertfordshire
- Dedicated account manager who you can contact and will always get back to you in a timely manner
- Broad knowledge of small businesses in and around Hertfordshire means we can help you bench mark your figures against the competition.