Failure to do so within the time limit specified will result in a penalty fine of at least £100 - in some cases more.
If you submit a paper assessment HMRC before 31st October each year HMRC will calculate your tax return for you or you can file a Self Assessment Tax Return form online before 31 January.
Taxaccolega is a firm of tax and accounting specialist that here to provides an extensive range of services with regards your business and manage your annual accounts to make sure they are submitted on time and that your Self Assessment Tax Return form is completed correctly. Even a simple, honest mistake on your tax return will incur a £100 fine. We also help you plan your future business goals and advice you how to save money on your non-taxable profits and explain your take taxable vs take home income.
Your annual accounts include:
- Full set of accounts which goes to HM Revenue & Customs
- Abbreviated accounts which goes to Companies House
- CT600 which goes to HM Revenue & Customs
Preparing your financial accounts
HMRC also insist that you keep a full record of your accounts and expenses for at least six years and with our easy-to.use system we will advice you of your liabilities as well as managing your accounts on your behalf so you have access to a user-friendly account reference to keep tabs on your business accounts.
During the preparation of your annual financial statements, we not only advise you on your past and present business trends but also identify the areas for professional support and plan for the future. Once your accounts are prepared we arrange a meeting with you to review your finances and business model and explain them in full detail so that you understand the process together with any estimates used in your accounts.
Our promise to you is to ensure you have a business model that is primed for success and make sure that you get the full benefit of tax savings that are available to you. Taxaccolega offer you friendly and professional services at competitive rates to remove the burden of accounting from you and give you peace of mind knowing that your financial affairs are in order.
For more information about how Taxaccolega can assist you with your business accounts and tax liabilities get in touch today on 020 8127 0728 or email us on info@taxaccolega.co.uk.