Small to Medium Enterprises Annual Returns.
Why Annual Accounts are Important
Even as a start up company, you are required by the HMRC to provide a full set of accounts at year end, including a directors report and a detailed profit and loss account.
Problems with Incorrect Annual Accounts
As your annual accounts are the basis of your tax return, if you make a single mistake, you could end up miscalculating the amount of tax you owe. Aside from potentially paying too much tax as a result, such mistakes incur penalties. The HMRC routinely fines companies for making mistakes on tax returns which can be as much as 70 per cent of the tax you owe on top of your outstanding obligation, according to the HMRC website.
Benefits of Using Qualified Accountants who Work With Start Ups
At Carrington Blake Accountancy, we have more than 10 years of experience working with start up businesses. This means that we understand the fact that as a start up, you already have a lot to worry about. We take the stress out of the accounting process by reminding you in plenty of time when you need to send us information or pay your taxes. We help you to stay in control of your cash by keeping your figures up to date and therefore providing accurate accounts to the HMRC on your behalf on time. This means you never have to pay fines or penalties and always pay the right amount of tax.
Contact us today to get on top of your annual accounts from the start.Get a Quote