Professional Company Accounts in Ponts Green

Get in touch

Company Accounting in Ponts 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 Ponts 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 TN33 9

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