Annual accounts are required by all businesses.
For sole traders and partnerships, annual accounts are needed to support tax returns submitted to HM Revenue & Customs.
For limited companies and limited liability partnerships, annual accounts are required by corporate law, as well as being required for submission to HM Revenue & Customs with a corporation tax return.
It is important to note that, particularly in the case of limited companies and LLPs, accounts will be available on public record and may be used by a variety of interested parties, including banks, suppliers and customers. It is therefore essential that accounts show a true and accurate financial position and comply with legislation and relevant accounting standards.
As Chartered Certified accountants, we are able to compile all accounting information and prepare accounts in accordance with the specific statutory requirements applicable to your business. Where appropriate, we will provide you with advice to ensure that you comply with all relevant legislation.
If you would like to discuss how we might assist you, please contact us
for a no obligation initial meeting.