Professional Company Accounts in Miles's Green

Get in touch

Company Accounting in Miles's Green

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 Miles's Green

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 RG7 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 Miles's Green (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
Brimpton Sulhamstead Sunningdale Sulham Marsh Benham North Heath Hurley West End Wickham Leckhampstead Thicket Quick's Green Bishop's Green Beaumont Cookham Dean Stanford End Enborne Row Sunnymeads Wickham Green West End Burghfield Common Lower Green Egypt Sonning Upper Green Enborne South Field Wellhouse Bothampstead Popeswood Woolley Green Sandhurst Remenham Hill Stubbings Ashampstead Sindlesham Crowthorne Beenham Stocks Tickleback Row Three Mile Cross Wargrave Stud Green Churchend College Town Brightwalton Holt Carter's Hill Lower Earley Woodlands St Mary Warren Row Highway Purley on Thames Hillgreen Whitley Wood Oakley Green Wickham Heath Lynch Hill Broomhall Elcot Nodmore Beedon Midgham Green Sheffield Bottom Clewer Village Sulhamstead Abbots Tutts Clump Anvilles Trapshill Lambourn Woodside Aldermaston Wharf Halfway Templeton Charvil Riseley South Fawley Twyford Old Windsor Trash Green Slough Bisham Beenham's Heath Lower Caversham Reading Four Points Merryhill Green Cookham Bagnor Tidmarsh Brightwalton Green Hurley Bottom Cabbage Hill Woolhampton Combe Burghfield Hill Bracknell Maiden's Green Arborfield Burnt Hill Great Hollands Stanmore Fifield North Street Winkfield Row Schoolgreen Sanham Green New Greenham Park Aston Scotswood Ufton Nervet Upper Bucklebury Owlsmoor Cold Ash Clapton Newell Green Wick Hill Colthrop Westrop Green Waltham St Lawrence Spital Hurst Littlewick Green Manor Park Bucklebury Alley Cookham Rise The Throat Cheapside Holloway The Mount Clewer Green Hoe Benham Blacknest Ascot Moneyrow Green Brookside Spencers Wood Grazeley Kiff Green Pingewood Priestwood Aldermaston Sunninghill Whistley Green Salt Hill Beedon Hill Eddington Birch Hill Chavey Down Jealott's Hill Furze Platt Great Shefford Bray Wick Winding Wood Little Heath Harmans Water Winkfield Wawcott East Ilsley Compton Southend Honey Hill Woodley Green Mell Green Burchett's Green Upper Lambourn The Holt Westridge Green Sheepdrove Inkpen Common Winterbourne Farnborough Aldworth Wash Common Ashampstead Green Clewer New Town Stratfield Mortimer Westbrook Beenham Datchet Welford Brands Hill Boxford Stockcross Clay Hill Padworth Common Greenham Ruscombe Easthampstead Hungerford Green West Ilsley Upton Tittle Row Bullbrook Lilley Donnington Brimpton Common Calcot Newbury Eton Caversham Speen Fawley Southend Boyn Hill Wasing The Ridges Curridge Hamstead Marshall Hermitage Shinfield Whiteknights Wick Hill Britwell Cockpole Green Turner's Green Applehouse Hill Farley Hill Gardeners Green Little Hungerford North Town Sulhampstead Bannister Upper End Hopgoods Green Binfield Catmore Malpas Ufton Green Crazies Hill Holme Green Stanford Dingley Hungerford Thatcham Woodlands Park Wokingham Eastheath Shefford Woodlands Upton Lea Pangbourne Altmore Bury's Bank Moss End Matthewsgreen Hawthorn Hill Hampstead Norreys Village, The Chieveley Easton World's End Datchet Common Earley Scotland Chaddleworth The Rise Burghfield The Slade Littlefield Green Crown Wood Goddard's Green Shaw Little Sandhurst Goldfinch Bottom South Ascot Lower Basildon Whitehouse Green Horncastle Eling Purton Peasemore Leverton Langley Skinners Green Crockham Heath Parker's Corner Jennetts Hill East Garston Brightwalton Windsor Knowl Hill East Fields Calcot Row Horton New Town Holly Cross New Town Cippenham Longlane Barkham Southcote Arborfield Cross Bray Crookham Hythe End Wood End Remenham Chalvey Cox Green Whitley Wash Water Bucklebury Woodspeen Cranbourne West Woodhay Wildridings Leckhampstead Braywoodside Kiln Green Emmer Green Coley Four Houses Corner Paley Street Amen Corner Hare Hatch Kintbury Eton Wick Ravenswood Village Settlement Rotten Row Frilsham Temple Warfield Borough Marsh Theale Caversham Heights Avington Beech Hill Holyport Pinkneys Green Downend Tittenhurst Great Lea Common Upper Basildon Bigfrith Hungerford Lambourn Woodlands Bradfield Dowlesgreen Lower Padworth Aldermaston Soke Hungerford Newtown Padworth Winnersh Hell Corner Grazeley Green Maidenhead Court Dedworth Stubbles Streatley Hanworth West Fields Chapel Row North Ascot Winkfield Place Englefield Marsh Gate Hunt's Green Arborfield Garrison Poundgreen Titcomb Ashmore Green Touchen-end Tilehurst Fishery Inkpen Bowsey Hill Eastbury Mortimer Oare Maidenhead Heathlands Shurlock Row Cold Harbour Yattendon Upper Woolhampton Hyde End Weston Ryeish Green Ragnal Finchampstead Ownham White Waltham Emmbrook Woodlands Wraysbury Woodley Langley Common Swallowfield Nuptown Miles's Green Midgham