Year End Accounts
Year End Accounts Service
We’ve all been there, it’s getting close to “Year end” and as usual you have put off preparing your year end accounts for HMRC. There is always something better and more interesting to do. It’s always a hassle and time consuming.
Our team of expert accountants can help for as little as £28/month + VAT
Is “Year End” the same for all Businesses?
No, your year end will be dependent on what type of business you are.
In the accountancy world, every business needs to prepare their complete accounts for HMRC and Companies House one year at a time. The ‘year end’ refers to the day that your company’s financial period ends.
If you’re a Sole Trader, we recommend setting your year end at April 5th – to match the end of the tax year. This avoids confusion with HMRC!
If you run your business through a Limited Company, then Companies House will set your year end as a year after the end of the month in which you created the company.
Stress Free Accountancy Service
Here at Mazuma we understand the stresses involved in running a small business. Our hassle-free subscription based accounting services can take one of those stresses off of your hands. We help start-ups, sole traders, small businesses, freelancers and Limited companies with their monthly accounts.
We will do your
- Monthly management accounts
- Bookkeeping
- VAT returns
- Monthly payroll
- Statutory end of year accounts
- Corporation or partnership tax return
- Self assessment tax return
We can take care of your Year End Accounts for you
Nobody wants to be served with a hefty fine from HMRC for not filing their accounts on time and with mistakes.
This is one of the reasons many Small Businesses sign up to our Accounting Services subscription package
As part of our Year End Accounts service we will:
- Do all of your bookkeeping
- We then crunch all the necessary figures
- Turn these figures into a full set of accounts
- Follow with a very thorough checking (and no, there’s no such thing as being ‘too thorough’ in our eyes)
- Produce the tax return
- Send it over to you to check and sign off
- Submit everything to HMRC and Companies House for you
FAQs
October 31st for paper tax returns and January 31st for online tax returns.
Yes it’s completely free and in most cases easy to complete. However, mistakes can be made which could prove costly.
Would you cut your own hair because it’s free? I thought not! For only £175 a qualified accountant will complete and submit your tax return leaving you with peace of mind that your tax return has been completed properly. It will reduce your stress levels and free up some of your time to concentrate on the important things in life.
In the accountancy world, every business needs to prepare their complete accounts for HMRC and Companies House one year at a time. The ‘year end’ refers to the day that your company’s financial period ends.
If you’re a sole trader, we recommend setting your year end at April 5th – to match the end of the tax year. This avoids confusion with HMRC!
If you run your business through a limited company, then Companies House will set your year end as a year after the end of the month in which you created the company.
We’ll file all your accounts, there’s just a couple of things you’ll need to get together for us…
- Your sales invoices or details of your sales
- Find all the paperwork for your purchases and expenses
- Gather your business bank statements for the year
- Statutory accounts (either full, abbreviated or micro)
- a ‘balance sheet’, which shows the value of everything the company owns, owes and is owed on the last day of the financial year
- a ‘profit and loss account’, which shows the company’s sales, running costs and the profit or loss it has made over the financial year
- notes about the accounts
- a director’s report (unless you’re a ‘micro-entity’)
- International Financial Reporting Standards
- New UK Generally Accepted Accounting Practice
Yes. HMRC require your Company Tax Return within 12 months after the end of the accounting period – (although you have to pay your corporation tax 9 months and 1 day after your company year end, so in real terms you need to get your company tax return within 9 months of the year end. See the handy table below!)
Companies House require your annual accounts within 9 months of your year end.
Looking to Switch Accountants?
As a small business owner, freelancer or contractor, spare time is precious. Switching your accountant may not be a priority and often get pushed to the bottom of the “to-do” list.