Professional Company Accounts in Milton under Wychwood

Get in touch

Company Accounting in Milton under Wychwood

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 Milton under Wychwood

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 OX7 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 Milton under Wychwood (Oxfordshire)

Get in touch

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


Skip to

Gallery

Other locations available for professional company accounts
Fringford Churchill Fencott Somerton Huntercombe End Over Worton Headington Upper Milton Burford Eaton Berinsfield Blewbury Middle Aston Hook Norton New Town Harcourt Hill Maidensgrove Kidmore End Campsfield Nuneham Courtenay Bourton Westcot Tetsworth Mixbury Great Bourton Hethe Waterperry Dean Sibford Ferris Ramsden Duns Tew Shipton-on-Cherwell Northcourt Great Coxwell Radley Park Carswell Marsh Noke Hensington Little Coxwell Little Wittenham Ascott d' Oyley Filkins Highmoor Cross Chazey Heath Garsington Bloxham Mollington Upper Heyford Pusey Risinghurst Hailey Ambrosden Radley Childrey Cold Harbour Stratton Audley Gagingwell Whitchurch Hill Cothill Crowsley Buckland Marsh East End Waterstock Shilton Fordwells Great Tew Aston Upper Arncott Barford St Michael Warpsgrove Milton Hill Nuney Green Abingdon Draycot Easington Marsh Baldon Bridge End Begbroke Cleveley Mackney Tackley Blenheim Launton Bampton Hailey Hopcroft's Holt Sandhills Great Haseley Fritwell The Colony Ascott Earl East End Little Haseley Worton Stanton St John Souldern Woodfield Summertown Newington Appleford Lower Arncott Wheatley Newland Gozzard's Ford Holton East Hagbourne Buckland Charterville Allotments Calthorpe Sutton Wick Longworth Botley Caversfield Sunnymead Townsend Barnard Gate East Hendred Ardington Wick Little Rollright Woodeaton Barton Abbey Great Milton Little Minster Ducklington Cuxham Nethercott Catslip Rose Hill Newton Purcell Ashbury Woolstone Bayworth Scotland End Roke Delly End New Cross Moreton Lower Wainhill Grove Milton Heights Dorchester Lyneham Greenfield Long Wittenham Fawler Faringdon Binfield Heath Piddington Cross Lanes Tubney Westhall Hill Woodgreen Swinford Shorthampton Eynsham Denchworth Charlbury Wolvercote Lidstone West End Bushey Ground Park Corner Kingstone Winslow Boars Hill Fewcott Asthall Leigh Little Milton The Platt Port Hill Deddington Oakley Wood Taston Kingston Stert Thame Fernham East Challow Horton-cum-Studley Kidlington Oxford West Lockinge Sparsholt Sutton Brighthampton Wantage Baulking Little Clanfield Over Norton Upton North Hinksey Village Shiplake Row Charlton-on-Otmoor Langley Idbury Lower Assendon Berrick Salome Rowstock Mount Skippett Easington Milton Common Upperton Shenington Ruscote Dunthrop Cholsey Weald Poffley End Postcombe Whistlow Goring Stoke Talmage Little Tew Watlington Blenheim Lew Great Rollright Moulsford Littlemore East Hanney Fyfield Newton Morrell Crowmarsh Gifford Little London Knighton Bessels Leigh Stoke Row Idstone Gibralter Nuffield Witheridge Hill Church Enstone Stanton Harcourt Thrupp Sonning Eye Asthall Carterton Finmere Farmoor Banbury Gainfield Minster Lovell New Botley Water Eaton Christmas Common Radcot Ardington King's End Fifield Crocker End Park Town Neat Enstone Hardwick Slade End Combe Salford New Yatt Littleworth Alvescot Upper Wolvercote Islip Cottisford North Weston Chilton Charney Bassett Westcott Barton South Newington Broadplat Nethercote Shirburn Kirtlington Littleworth Headington Hill West End South Moreton Ipsden Kiddington Milton West Hendred Cuddesdon Chipping Norton Thrupp Wroxton Field Assarts Kencot Play Hatch Twyford Shrivenham Merton Tadmarton Weston-on-the-Green Little Chesterton Towersey Holwell Rack End Crowell Wigginton Heath Chalgrove Cowley Whitchurch-on-Thames Worsham Duxford Southend Barford St John Bow Northbrook Mays Green Murcott Burcot Oakley Wallingford Swalcliffe Hampton Poyle Buscot Bunkers Hill Langford Wigginton Middle Assendon Stoke Lyne Little Faringdon Shutford Oddington Spelsbury Uffington Harwell Littlestead Green Upton Hanwell Stadhampton Clifton Hampden North Aston Long Hanborough Chalford Westwell Harpsden Bottom Hornton Greenend Binsey Foscot Camp Corner Cogges North Stoke Tokers Green Drayton Swinbrook Greys Green Tiddington Littleworth Great Holcombe Aston Upthorpe Ascott-under-Wychwood Sunningwell Denton Walton Manor Old Woodstock Crowell Hill Stonesfield Woodstock Barton Beckley Glympton Chesterton Trench Green Checkendon Brookend Cleeve Neithrop Shippon Meadside Longcot Sydenham Forest Hill Marston Lower Radley Highmoor Well Place Aston Tirrold Appleton Woodcote Shepherd's Green Hempton Wainhill New Marston Shiplake Radford Walcot Sprig's Alley Horley Chawley Goring Heath Old Chalford Southmoor Highfield Middleton Stoney Clanfield Blackthorn Hill Bottom Williamscot Sandford-on-Thames Benson Pishill Bank Shiplake Bottom Southrop West Challow Emmington West Hanney Nether Worton Dry Sandford Chastleton Cutteslowe Gallowstree Common New Hinksey Cornwell Little Bourton Winterbrook Frilford Heath Drayton St Leonard Cane End Alkerton Exlade Street Curbridge South Weston Finstock Woodleys Filchampstead Freeland Church End Wytham Wootton East End Adderbury Fulbrook Cassington Golden Balls Goosey Steventon Blackbird Leys Rotherfield Greys Russell's Water Standlake Hook End South Hinksey Leafield Cray's Pond Dean Court Broughton Marcham Wootton Steeple Aston Britwell Salome East End Bletchingdon North Moreton Netherton Brize Norton Dunsden Green Elsfield Hardwick Rousham Chalkhouse Green Hempton Cookley Green Eastend Grandpont Frilford Chiselhampton North Newington Blackditch Ardley Kelmscott Chilson East Adderbury Cowleaze Corner Warborough Middle Barton Rotherfield Peppard Stonor Milcombe Lower Heyford Epwell Horspath Rokemarsh Mapledurham Letcombe Bassett Henley-on-Thames Balscote Woodway Radfordbridge South Stoke Caldecott Aston Rowant Swerford Over Kiddington Wildmoor Moreton Heythrop Broughton Poggs High Cogges Hinton Waldrist Sutton Courtenay Chinnor Baynard's Green Preston Crowmarsh Kingham Henwood Chimney Church Hanborough Bladon Sibford Gower East Ginge Culham Foxcombe Hill Hardwick Grafton Lewknor New Headington Coleshill Chimney-end East Lockinge Bicester Cumnor Hill Black Bourton Witney Fulwell Wardington Pishill Brookhampton Cumnor Sarsden Newbridge Kingston Bagpuize Claydon West Hagbourne Stanford in the Vale West Adderbury Southcombe Cropredy Bix Osney Burdrop Sonning Common South Leigh Westend Baldon Row Nettlebed Shores Green Upper Wardington Iffley Hatford Bainton Pimlico Brightwell-cum-Sotwell Northmoor North Leigh Bruern Abbey Bould West Ginge Wendlebury Lower End Adwell Sarsden Halt Letcombe Regis Enstone Oakley Court Kingston Blount Newtown Fawler Pyrton Milton Clare Yelford Hampton Gay The Green Kennington Brightwell Baldwin Watchfield Steeple Barton Milton under Wychwood Lower Shiplake Shipton under Wychwood Taynton Caulcott Bucknell Grimsbury Enslow Eaton Hastings Broadwell Sandford St Martin Church End Ledwell Whiteoak Green Didcot Lyford Lower Highmoor Tadley Shillingford Drayton Signet Clifton Bodicote Compton Beauchamp Coscote Temple Cowley Shellingford Yarnton Ewelme Collins End Gosford Garford Heathfield Village Charlton Satwell Latchford Toot Baldon Belmont Henton Crawley Harpsden Chadlington Cote Kingston Lisle Lower Tadmarton