Professional Company Accounts in Eton

Get in touch

Company Accounting in Eton

At The Tax Advisors, we understand that preparing and filing company accounts can be daunting for many business owners.

As a professional and affordable group of tax accountants based in the UK, we are here to help you navigate the complexities of this process and ensure that your financial records are accurate, compliant, and filed on time.

Contact us today to find out how we can help with your professional company accounts.

Get in touch

What Are Company Accounts?

Company accounts are financial statements that provide a detailed overview of a company's financial performance over a specific period, typically a fiscal year.

These accounts are essential for informing stakeholders, such as shareholders, creditors, and regulatory bodies, about the company's financial health.

Why Is It Important to Prepare and File Company Accounts?

  1. Legal Requirement: In the UK, all limited companies must prepare and file annual accounts with Companies House and HMRC. Failure to do so can result in penalties and legal repercussions.

  2. Financial Transparency: Company accounts offer transparency to stakeholders, helping them make informed decisions about investments, loans, and partnerships.

  3. Tax Compliance: Accurate accounts are crucial for calculating corporation tax liabilities and ensuring that your company pays the correct amount of tax.

The Process of Preparing Company Accounts

1. Gather Financial Information

The first step in preparing company accounts is gathering all relevant financial information. This includes:

  • Sales Invoices: Records of all sales made during the financial year.

  • Purchase Invoices: Documentation of all expenses and purchases.

  • Bank Statements: Detailed statements of all transactions made through the company's bank accounts.

  • Payroll Records: Information on salaries, wages, and other employee benefits.

  • Receipts: Proof of any other business-related expenditures.

2. Record Transactions

Once you have gathered all necessary financial data, the next step is to record these transactions accurately. This can be done using accounting software or manually in ledgers. Proper categorisation of income and expenses is crucial to ensure accuracy in the final accounts.

3. Prepare Financial Statements

The key financial statements that need to be prepared include:

  • Profit and Loss Account (P&L): This statement shows the company's revenues, costs, and expenses during the financial year, resulting in the net profit or loss.

  • Balance Sheet: A snapshot of the company's financial position at the end of the financial year, including assets, liabilities, and shareholders' equity.

  • Cash Flow Statement: This statement tracks the cash flow in and out of the business, highlighting the company's liquidity.

4. Review and Adjust

Before finalising the accounts, reviewing and adjusting them for any discrepancies, such as unpaid invoices or unrecorded expenses, is essential. This ensures that the accounts accurately represent the company's financial status.

Filing Company Accounts in Eton

1. Filing with Companies House

Once the accounts are prepared, they must be filed with Companies House. The deadline for filing is typically nine months after the end of the financial year. This process can be completed online or by post.

2. Filing with HMRC

In addition to filing with Companies House, companies must also file a Company Tax Return (CT600) with HMRC, including the full statutory accounts and tax computations. The deadline for filing is usually 12 months after the end of the financial year.

3. Pay Corporation Tax

After filing your accounts and tax return, you will need to pay any corporation tax due within nine months and one day after the end of your accounting period.

FAQs about Company Accounts in SL4 6

What happens if I file my company accounts late?
Late filing can result in penalties from Companies House, starting at £150 and increasing the longer the delay. HMRC may also impose fines and interest on unpaid corporation tax.

Can I file my company accounts myself?
Yes, you can file your company accounts yourself. However, seeking professional help to ensure accuracy and compliance with UK accounting standards is advisable.

What is the difference between abridged and full accounts?
Abridged accounts are a simplified version of full accounts, omitting detailed profit and loss information and reducing the detail required in the balance sheet. Small companies often file abridged accounts to maintain privacy.

The Tax Advisors: Your Partner in Preparing and Filing Company Accounts

At The Tax Advisors, we offer a comprehensive range of services to help you prepare and file your company accounts with ease. Our team of experienced tax accountants provides tailored advice and support, ensuring that your accounts are accurate, compliant, and submitted on time. With our professional and affordable services, you can focus on growing your business while we take care of the numbers.

Why Choose The Tax Advisors?

  • Expertise: Our team is well-versed in UK accounting standards and tax laws, ensuring that your accounts are prepared to the highest standards.

  • Affordability: We offer competitive pricing, making professional accounting services accessible to businesses of all sizes.

  • Personalised Service: We take the time to understand your business, offering bespoke advice and solutions that meet your specific needs.

Contact Us Today

For more information on how we can assist with preparing and filing your company accounts, contact The Tax Advisors today.

Simply drop us a message and we will be in touch with help and advice.

Let us help you stay compliant, save time, and avoid unnecessary penalties.

Get in touch

We cover Eton (Berkshire)

Get in touch

We aim to get back to you in 1 working day.


Skip to

Gallery

Other locations available for professional company accounts
Wawcott Applehouse Hill Harmans Water Halfway East Ilsley Hythe End Hungerford Chalvey Great Lea Common Titcomb Lilley Ryeish Green Cold Harbour Enborne South Ascot Farnborough Trapshill Compton The Ridges Malpas Newbury Burchett's Green Bullbrook Ufton Green Horton Broomhall Chaddleworth Southcote Southend Grazeley Green Anvilles Mell Green Fawley Paley Street Lower Green Manor Park Marsh Gate Stratfield Mortimer Stockcross Kintbury Altmore Caversham Heights Emmer Green Tittenhurst Brands Hill Aldermaston Wharf Tickleback Row Woodley Greenham Thatcham Burghfield Woolley Green Borough Marsh Templeton Winkfield Place Cockpole Green Moss End Bothampstead Wildridings Beaumont New Town Clewer Village Downend Aldermaston Streatley North Heath West Fields Wickham Green Egypt Ravenswood Village Settlement North Street Parker's Corner Finchampstead Holloway Peasemore World's End Four Points Weston Crown Wood Shaw Aston Reading Clay Hill Fishery Great Shefford Lower Earley Englefield Moneyrow Green Hawthorn Hill Carter's Hill Birch Hill Holly Cross Clewer Green Datchet Spital Bracknell Brookside Shinfield Marsh Benham Upper Bucklebury Cabbage Hill Turner's Green Avington Ragnal Remenham Hill The Holt Trash Green Rotten Row Curridge Pangbourne Winkfield Fifield Furze Platt Sulham Goldfinch Bottom Hurley Bottom Hungerford Green Upper Lambourn Gardeners Green Bisham Cold Ash Bury's Bank Ashmore Green Midgham Green Lynch Hill Sulhampstead Bannister Upper End Sunningdale New Town Heathlands Coley Touchen-end Binfield Lambourn Aldermaston Soke Chieveley Welford Wickham Heath Bray Wick Maidenhead Winnersh West Woodhay Sindlesham Beedon Upton Padworth Common Stud Green Whitley Eastheath Frilsham Crazies Hill The Rise Crowthorne South Fawley Quick's Green Newell Green Elcot Westrop Green Easton West End Cox Green Eling Bowsey Hill Charvil Britwell Maidenhead Court Wick Hill Sheepdrove Honey Hill Merryhill Green Chavey Down Donnington Sheffield Bottom Hermitage Cookham Rise Little Hungerford Maiden's Green Horncastle Westbrook Littlefield Green Datchet Common Calcot Woodlands Park Holyport Sandhurst Wokingham Lower Basildon Earley Amen Corner Stanford Dingley Pingewood Dowlesgreen North Town Woodspeen Burghfield Hill Hurst College Town Salt Hill Sunninghill Poundgreen Hillgreen Calcot Row Wasing Woolhampton Ashampstead Lambourn Woodlands Brightwalton Green Eton Wick New Greenham Park Tittle Row Tutts Clump Cookham Ufton Nervet Wash Water Boxford Dedworth Highway Little Sandhurst Hampstead Norreys Hare Hatch Jealott's Hill Ruscombe Whistley Green Purton Combe Bradfield Upper Basildon Boyn Hill Popeswood Waltham St Lawrence Grazeley Clewer New Town Four Houses Corner Burghfield Common Scotswood Bucklebury Beenham Stocks Arborfield Cross Kiln Green Remenham Leckhampstead Thicket Woodley Green Upper Green Cookham Dean Riseley Sonning Colthrop Hanworth Shurlock Row Ascot Goddard's Green Kiff Green Holme Green Stanford End Barkham Upper Woolhampton Littlewick Green Great Hollands Eton Wood End Clapton Hurley Sunnymeads Langley Woodside Schoolgreen Matthewsgreen Brightwalton Inkpen Common Hunt's Green Brightwalton Holt Wraysbury Wargrave Owlsmoor East Garston Stubbings Cippenham Village, The Beenham Bagnor Slough White Waltham Sulhamstead Abbots Tilehurst Aldworth Woodlands St Mary Hyde End Arborfield Lower Padworth Cranbourne Catmore Knowl Hill Sulhamstead Yattendon Farley Hill Lower Caversham Whiteknights Hopgoods Green Langley Common Wick Hill Bishop's Green Warren Row Whitehouse Green Burnt Hill Wash Common Bucklebury Alley Leckhampstead Windsor Leverton Swallowfield Ashampstead Green Whitley Wood Mortimer West Ilsley Brimpton Wellhouse Ownham Stanmore The Slade Pinkneys Green Sanham Green Bigfrith East Fields Westridge Green Crockham Heath Tidmarsh Nodmore Speen Miles's Green Purley on Thames South Field Caversham Easthampstead Winding Wood Southend The Throat Hamstead Marshall Hungerford Jennetts Hill Emmbrook Enborne Row Nuptown Hell Corner Priestwood Blacknest Arborfield Garrison Longlane Eddington Woodlands Old Windsor Warfield Stubbles Wickham Chapel Row Temple Winterbourne Theale Oakley Green Hungerford Newtown Shefford Woodlands Little Heath Scotland Beenham's Heath Midgham Oare Cheapside North Ascot Crookham Inkpen Churchend Twyford Braywoodside Bray Spencers Wood Padworth Skinners Green West End Hoe Benham Brimpton Common Beedon Hill Upton Lea Winkfield Row Three Mile Cross Eastbury The Mount Beech Hill