020 8232 5479

Accountancy Service

Accountancy Requirements

Directors of a limited company are legally responsible for running the company and making sure that information is sent to Companies House and/or HMRC on time.

  1. Confirmation statement- this must be submitted to Companies House annually. Failure to submit it on time may mean your company could be struck off the Register by Companies House.
  2. Annual accounts, which must be filed even if the company has not traded, both with Companies House and HMRC.
  3. Corporation tax – to be filed with HMRC.
  4. VAT returns must be filed with HMRC on a quarterly basis, if the company is registered for vat.
  5. Payroll submissions must be made to HMRC on a monthly basis, if the company pays out salaries to staff.

The submissions of information and documents has to be done on a timely basis to avoid penalties imposed by Companies House and HMRC.

The accounting needs of any business will vary according to its size, type and sector. Annual accounts preparation is an important part of running a business, both from the point of view of gaining an insight into your business, and for meeting the requirements laid down by HM Revenue & Customs and Companies House. No business can be run optimally without a balance sheet and income statement. Good financial statements will show you how your business is actually doing and can uncover important trends and opportunities.

Strict late filing penalties are imposed by Companies House and by HMRC for late filing of accounts and other returns such as VAT. Filing of information correctly is an onerous task for which the directors of the company are legally responsible.

Our associated company ‘Chowdhary & Co. Chartered Accountants’ can take the weight off your shoulders by providing full accountancy service in compliance with Companies Act and with current accounting standards. You can take advantage of their FREE consultancy service before forming your limited company and after forming the company. We have agreed a cost-effective compliance and accountancy package for customers forming a limited company through us. Click the button below to make use of professional consultancy and accountancy service by ‘Chowdhary & Co Chartered Accountants’.

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You can use eFormations for every stage of your business journey. After forming your company we can help you manage some of your daily, monthly and annual obligations.