Professional Company Accounts in East Sussex

Get in touch

Company Accounting in East Sussex

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 East Sussex

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 BN26 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 East Sussex

Get in touch

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


Skip to

Gallery

Other locations available for professional company accounts
Best Beech Hill Westham Old Town Alciston Chilsham Plumpton Green Friston Park Corner Landport Bodiam Glenleigh Park Furner's Green Horney Common Withyham Whitehawk Wych Cross Lidham Hill Norton Houghton Green Meads Five Ashes Southease Clive Vale Norman's Bay Hooe Common Wallands Park Southover Norlington Wood's Corner Winton Newbridge Dale Hill Broomsgrove North Chailey Heron's Ghyll Birling Gap Chelwood Gate Ninfield Pestalozzi International Village Grisling Common Five Ash Down Burgh Hill Lower Street Sheffield Green Oxley's Green Lower Horsebridge Hartfield Telscombe Gallypot Street Golden Cross Battle Guestling Thorn Stone Cross Hankham Bowler's Town Tompset's Bank Broad Oak Bells Yew Green Old Town Trolliloes Harbour Heights Town Littleworth Willingdon Sharp's Corner Cooper's Green Hale Green East Moulsecoomb Silverhill Upper Dicker Lower Dicker Peacehaven Heights Southover Catsfield Horsted Green Tolhurst Punnett's Town Woodmans Green Wivelsfield Green Silverhill Park Buxted Pound Green Ridgewood Alderbrook Downside Baldslow Lower Willingdon Westfield Rocks Park Chalvington Cowbeech Isfield Marle Green Birchett's Green West Park Manor Park New Town Laughton Common Poundfield Holtye Stone Cross St Helen's West Firle Upper Hartfield Old Town Tilsmore Burnt Oak Thunder's Hill Broad Oak Waldron Down North Moulsecoomb St John's Danehill Bardown Blackness Penhurst Strawberry Hill Groombridge East Guldeford Horns Cross Wivelsfield Upperton Ponts Green Old Heathfield Mount Ephraim Seaford Blackham Twelve Oaks Sedlescombe Godleys Green Whatlington Hampden Park Fletching Common Wartling East Chiltington Boreham Street Beckley Cliff End Mile Oak Red House Common Turner's Green Piddinghoe Harley Shute Hollingrove Witherenden Hill Bodle Street Green Westdene Little Bayham Town Row Mill Corner Piltdown Nutley Maynard's Green Etchingham Cousley Wood Ashton Green Gotham Shover's Green Falmer Winchelsea Beach Cripp's Corner Netherfield Bexhill Broadland Row Tidebrook Fairlight Dallington Hamsey Henley's Down Durgates Roedean Camber Whitehill East Blatchington Canadia Three Cups Corner Wilmington Green Palehouse Common Rose Hill Wilmington Friar's Hill Bulverhythe Seacox Heath Hollington Quabrook Warbleton Four Oaks Poundgate Barcombe Cross Peacehaven Jury's Gap Sidley Teasley Mead Rushlake Green Watermill Duddleswell Pell Green Heathfield Framfield Cooden Rockrobin Saltdean The Highlands Ditchling Brightling Little London Cock Marling Ovingdean Tarring Neville Halland Burwash Common Pett Level Eckington Corner Herstmonceux Plumpton Frant Chitcombe Sleeches Cross Little Norlington Balls Green Rickney West Marina Park Corner Green Street Cackle Street Blacklands Burwash Marlpits East Dean Wadhurst Belmont Goatham Green Catsfield Stream St Leonards Crowborough Warren Folkington Bohemia Offham Burgh Hill Jevington Berwick Castle Hill Danegate Cade Street Spithurst Chiddingly Stanmer Cooksbridge Westmeston Newick Streat Iden Rottingdean Clayhill Butcher's Cross Vines Cross Broyle Side Ginger's Green Mount Pleasant Summer Hill Ewhurst Green Rye Etchingwood Foxhunt Green Foul Mile Marden's Hill Lye Green Mott's Mill Withdean Sandy Cross Davis's Town Uckfield South Chailey Crowborough Milton Street Mayfield Splayne's Green Kingston near Lewes Barcombe Kemp Town Beckley Furnace Starr's Green Ringmer Flimwell Mountfield Hooe Snagshall Budlett's Common Stone Cross Earl's Down Three Leg Cross Glyndebourne Forest Row Langney Stunts Green Cackle Street Robertsbridge Sparrow's Green St Helen's Wood Whitesmith Rushy Green Mount Pleasant Selmeston High Hurstwood Wallcrouch Poundford Ringles Cross Windmill Hill Gun Hill Lunsford's Cross Roser's Cross West Hill Hazard's Green Glyne Gap Hurst Green Charlwood Fletching Cackle Street Birchden Horam Telscombe Cliffs Telham Hailsham Chapel Row Vinehall Street Hastings Peasmarsh Bevendean Udimore Lyewood Common Playden Winchelsea Crowhurst Brighton Churches Green Mark Cross Sutton Steel Cross Chiltington Mill Hill Hadlow Down Caneheath Hammerwood Chailey Cross in Hand Alfriston Waldron Eridge Green Upper Horsebridge Chapman's Town Highgate Iford Hollingdean Roselands Pevensey Bay Glynde Portslade Village Burwash Weald South Street Golden Cross Pett Newhaven Beddingham Turner's Green Lewes Berner's Hill Brede Shortgate Hove Rusher's Cross High Cross Hall's Close Eastbourne Jumper's Town Foulride Green Arlington Hollingbury Ford's Green Rodmell Willard's Hill Westdean Three Oaks Pevensey Fairlight Cove Laughton Jarvis Brook Ticehurst Salehurst Eason's Green Nash Street Flowers Green Coggins Mill Broomham Shortbridge Firle Combe Preston John's Cross Wood's Green Hangleton Union Street Bachelor's Bump Bishopstone Wannock Ripe Down Street West Blatchington Chapel Cross Magham Down Darwell Hole Aldrington Silver Hill Mark Cross Little Horsted Russell's Green Steven's Crouch Holmes's Hill Maresfield Park Rotherfield Litlington Terrible Down Polegate Beachlands Hellingly Coldean Rye Foreign Icklesham Maresfield Sweethaws South Malling Potter's Green Pebsham Lower Cousley Wood South Heighton Upper Wellingham Rye Harbour Patcham Black Rock Coleman's Hatch Muddles Green Mutton Hall Collier's Green Sharpsbridge Burlow Hawkhurst Common Friar's Gate Wickstreet Stonegate Ashburnham Forge Woodingdean Northbridge Street Fairwarp Whydown Brownbread Street Broad Street Grove Hill Boarshead Moulsecomb Little Common Ore Flackley Ash Exceat Northiam Argos Hill Beacon Down East Hoathly Denton Cowbeech Hill Staplecross Pounsley Chuck Hatch Swaile's Green Wellbrook Guestling Green Chelwood Common Blackboys Heathfield Dittons Lions Green