Sole Trader and partnership accounts
Limited Company Accounts.
Here at London accountants we are experts in bookkeeping and accounts preparation for Sole Traders, Partnerships and Limited Companies for turnovers up to 10.5 million turnover. As accountants in London, we are qualified Chartered Accountants and Chartered Management Accountants as well as being QuickBooks ProAdvisor’s and Sage Business Specialists. In addition, we have over twenty years’ experience of saving London Businesses money through our tax knowledge and expertise.
We can prepare your set of accounts and offer tax saving advice throughout the year. The process is to prepare a draft set of accounts and then arrange a consultation at our London Kensington Office to review the completed accounts. Only when you the client are totally happy will we finalize the accounts for signature and complete the final tax calculations. We will then submit the SA100 individual tax return if the accounts are for a Sole Trader, SA800 partnership tax return for a partnership and individual tax returns. We can guarantee you we will work extremely hard to ensure your tax liabilities are kept to a minimum.
Should you be a company director and require a pro-active firm of London bookkeepers and accountants we prepare full company accounts and submit to Companies House and HMRC on your behalf. We also prepare all CT600 corporation tax calculations and go through these as well as personal tax liabilities with each director. We offer a tax saving limited company accounting service which will review previous years accounts and we will offer tax and vat planning for the future for you and your business. The completion of financial accounts is incorporated within our London bookkeeping service and as a result we offer a free 2-month trial period to all new clients without obligation.
The financial year for Limited Companies runs from 1st April to 31st March and the financial year for Sole Traders and Partnerships runs from 6th April to 5th April each year. Limited companies have 9 months to complete and submit their company accounts to Companies House and HMRC and Sole Traders and Partnerships have 10 months. The final filing date for self-assessment is 31st January each year. After which fines of £100.00 commence. Filing company accounts at Companies House on time and within strict deadline dates is essential as severe financial penalties for late filing are imposed and Companies house will dissolve your company if you fail to file company forms such as confirmation statements or company accounts.
It is the aim of the HMRC for all company and personal accounts to be filed digitally each quarter like the filing of vat returns which is known as Making Tax Digital. HMRC propose to do this by 2020 but some experts have argued this is not feasible at present so the filing of annual self-assessment tax returns will continue until further notice. Tax returns are issued each year to tax payers in April and must be filed by the following 31st January.