Professional Company Accounts in Trimley St Mary

Get in touch

Company Accounting in Trimley St Mary

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 Trimley St Mary

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 IP11 0

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 Trimley St Mary (Suffolk)

Get in touch

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


Skip to

Gallery

Other locations available for professional company accounts
Ford's Green Orford Upper Layham Hobbles Green Ellough Little Finborough Polstead Heath Mill Green Gazeley Ward Green Nettlestead Beccles Hunston Green Hessett Barnham North Cove Upper Weybread Bildeston Mill Hills White House Shottisham Martlesham Heath Stone Street Gipping Thorpe Common Smallwood Green Burstallhill Great Common Upper Street Hengrave Raydon Chediston Green Shelland Battlies Green East End Kenny Hill Potash Wilby West Stow Gedding Beck Row Candle Street Lower Falkenham Kirkley Upper Green Little Bealings Bloodman's Corner Harrow Green Cuckoo Green Creeting St Mary Holywell Row Lackford Wattisham Stone Charsfield Little Welnetham Shingle Street Borley Green Lady's Green Hoxne Toad Row Offton Bramford Mickfield Chilton Street Holton Bures Green Sowley Green The Marsh Elmswell Great Welnetham Pettistree Thurston Gromford Knodishall Bury St Edmunds Burgh Metfield Duck Corner Thistley Green Oakley Sibton Kettlebaston Thrandeston Glemsford Annis Hill Tuddenham St Martin Crownland High Rougham Crowfield Preston St Mary Dorking Tye Windsor Green Barton Mills Thornham Magna Wissett Worlington Capel Green Needham Market Hawkedon Camps Heath Stuston Kingshall Green Westleton Barnaby Green Stradishall Broke Hall Woolpit Heath Brundish Lindsey Tye Uggeshall Hintlesham Eyke Denham Corner Clopton Reydon Ashfield Green Ipswich Pakenham Hartest Hill Thurston End Langton Green The Brook Corton Curlew Green Thorington Street Gosbeck Bardwell Cransford Baylham Common, The Drinkstone Green Honington Elveden Brandon Witnesham Walpole Haughley Green Assington Green Timworth Green Battlesea Green Brantham Helmingham Parliament Heath Oulton Broad Lakenheath Washmere Green West Row Little Wenham Rougham Green Wales End Mellis Stutton Broom Hill Tan Office Green Chelmondiston Hemley Stanton Street Daisy Green Winston Theberton Brome Broad Street Stanway Green Upthorpe Boot Street Melon Green Groton Depden Green Bedfield Erwarton Chimney Street Sudbury Dandy Corner Slough Hill Fen Street Monewden Eastbridge Ashfield Cum Thorpe Gulling Green Leavenheath Gedgrave Hall Great Saxham Wrentham Little Saxham Halesworth Washbrook Hazel Stub Wortham Friston Tannington Place Wickhambrook Newmarket Dennington Hall Little Stonham Upper Holton Easton Little Cornard Willisham Hanchett Village Trimley Lower Street Button Haugh Green Chedburgh Ashfield Burthorpe Earl Stonham Stanton Chare Woolpit Palgrave Frostenden Corner Fern Hill High Street Button's Green Dalham Marlesford Walsham Le Willows Battisford Tye Audley End Farley Green Canham's Green Magpie Green Troston Attleton Green Cranley Warren Heath Herringswell Burgate Wattisham Bromeswell Henstead Harleston Ixworth Cook's Green Fressingfield Haughley Blacksmith's Green Gosland Green Little Green Stoke by Clare Great Bradley Henley White Horse Corner Kettleburgh East Green All Saints South Elmham Hadleigh Mill Hill Thorndon Temple End Wyverstone Street Chattisham Cavendish Cole's Green Wangford Barking Tye Blyford East Barton Lower Street Fingal Street Knaves Green Blundeston Chevington Stanningfield Stowmarket Little London Meeting Green Mill Street Hagmore Green Blacksmith's Corner Crackthorn Corner Flixton Calais Street Maypole Green Dublin Thorpe Street Brent Eleigh Worlingworth Aldham Falkenham Sink Nedging Tye Butley Hemp Green Drakestone Green Park Gate Butley Low Corner Wootten Green Whitestreet Green Normanston Chelsworth Common Coles Green Upper Street Dagworth Fenstead End Cornard Tye Occold Brockley Corner Redgrave Hartest Denham Thelnetham Norton Culford Hacheston Ashbocking Little Glemham Great Wratting Long Melford Farnham Broad Green Horringer Castling's Heath Claydon Bleach Green Debenham Lowestoft Rickinghall Ringsfield Corner Bramfield Athelington Brampton Lattinford Hill Stanton Hulver Street Horham Reydon Smear Weston Gainsborough Chediston Apsey Green Ashfield Green Rougham Shotley Gate Mount Pleasant Bredfield Semer Hawstead Cove Bottom Rede Bradfield St George Heveningham Lawshall Washbrook Street Gipsy Row Wickham Street Battisford Tuddenham Great Green Rendham Shelley Coldfair Green Huntingfield Brundish Street Wordwell Cranmer Green Ampton Great Green Tunstall Sicklesmere Santon Downham Dallinghoo Old Felixstowe Lawshall Green Little Bradley Boyden End North Common Long Green Hoggard's Green East Green Badwell Ash Newton Kessingland Beach Haverhill Great Finborough Clopton Corner Sutton Lower Raydon Rodbridge Corner Worlingham Shop Corner Bacton Elmsett Brook Street Polstead Dunwich Stoke Sternfield Moats Tye Cowlinge Little Knowles Green Stratford St Andrew Bruisyard Saxtead Little Green Four Ashes Felsham Saxham Street St Peter South Elmham Hadleigh Heath Tattingstone White Horse St Margaret South Elmham Claypits Upper Town Racecourse Walberswick Acton Place Monks Eleigh Higham Mells Wyverstone Euston Ilketshall St Lawrence Market Weston Sutton Street Barking Falkenham Higham Maypole Green Rose Green Broadgrass Green Rendlesham Church End Wickham Skeith Chantry Butley High Corner Lower Layham Holton St Mary Mile End Risby Hawstead Green Weybread Leiston St James South Elmham Barnby Mill Green Rushbrooke Thwaite Kingston Saxtead Green Stubbing's Green Mildenhall Wickham Green Cuckold's Green Great Livermere Blackthorpe Lound Bridge Street Bucklesham Ash Street Flowton Ilketshall St Andrew Brettenham Lavenham Ingham Thorington Foals Green Goddard's Corner Cross Green Long Thurlow Forward Green Red Lodge Bower House Tye Earl Soham Hart's Green Great Cornard Stoke Ash Wetherden Upper Town Babel Green Little Thurlow Whitton Wenhaston Black Heath High Street Hepworth Hanningfields Green Brampton Street Stackyard Green Bradfield Combust Ringshall Stocks Wyverstone Green Sweffling Great Glemham Sapiston Oakley Park Chillesford Brundon Stowupland Fornham All Saints Stoke-by-Nayland Rushmere St Andrew Frizzeler's Green Eriswell Weston Ditch Humble Green Covehithe Hemingstone Stock Hill Thorpe Green Rose Hill Trimley St Martin Dunstall Green Base Green Brandeston Shimpling Street Wenhaston Edwardstone St Nicholas South Elmham Wickham Street Shimpling Somersham Sudbourne Buxhall Bowbeck Grimstone End Thorns Blaxhall Redisham Willisham Tye Whepstead Rose Green Brome Street Yoxford Blythburgh Smithwood Green Eye Wickham Market Creeting Bottoms Thornham Parva Wilde Street Waldringfield Great Bricett Exning Calford Green Waldringfield Heath Withersdale Street Thorpe Morieux Saxmundham Rushmere Rumburgh Hunston Norton Little Green Pinford End The Port of Felixstowe Stone Street Wicker Street Green Upper Street Cratfield Mutford Oldhall Green Honey Tye Cow Green Akenham Brockley Alpheton Boyton Cretingham Whatfield Lower Green Castle Hill Wetherden Needham Street Denham Tattingstone Shadingfield Lower Holbrook Spexhall Westhorpe St Cross South Elmham Westbourne Milden Hundon Broom's Barn Depden Mickley Green Clopton Green Felixstowe Ferry Brook Green Saxtead Hollybush Corner Framlingham Lambfair Green Beyton Aspall Kersey Coddenham Green Dennington Fornham St Genevieve Little Green Stowlangtoft World's End Langham Coney Weston Ufford Burstall Broadway Page's Green Stoven Letheringham Denston Brown Street Greenwich Barrow High Green Gislingham Westhall Oulton Ringsfield Sizewell Capel St Mary Whelp Street South Cove Campsea Ashe Little Whittingham Green Crown Corner Charles Tye Wetheringsett Flempton Baxter's Green Fornham St Martin Undley Pitcher's Green North Green Beacon Hill Playford Great Thurlow Combs Ford Lower Street Great Barton Swilland Cockfield Ringshall Bunker's Hill Finningham North Green Bell's Corner Bush Green Hollesley Melton Landwade Maidenhall Great Green Friday Street William's Green Little Waldingfield Shipmeadow Earl's Green Kersey Upland Scotland Street Chilton Snape Bacton Green The Woodlands Moulton Sherbourne Street Otley High Street Kenton Stradbroke Hasketon Lidgate Woolverstone Westley Aldeburgh Grinstead Hill Benacre Stratford St Mary Barningham Black Street Colton Botesdale Hibb's Green Woodbridge Walk Wattisfield Larks' Hill Gisleham Old Newton Herringfleet Rishangles Cotton Ilketshall St Margaret West Street Clay Common Kelsale Syleham Onehouse Mendlesham Grundisburgh Kingshall Street Bawdsey St Michael South Elmham Barnardiston Heckfield Green Harkstead Chelsworth Kenton Corner Priory Heath South Green Nether St Bird Street East Bergholt Cocks Green Back Street Combs Fen Street Beyton Green Knettishall Boxted Wherstead Gunton Rooksey Green Newbourne Darsham Coddenham Capel St Andrew Culpho Thorpeness Roman Hill Redlingfield Benhall Green Walton Great Bealings Denham End Parham Pound Green Benhall Street Chippenhall Green Monk Soham Birds End Sackers Green Priory Green Poslingford Assington Drinkstone Clare Brockley Green Round Maple Freckenham Badwell Green Icklingham Nedging Maidensgrave Pakefield Bungay Copdock Kesgrave Ousden Stanstead Great Waldingfield Methersgate Dennington Corner Broad Green Ramsholt Woodbridge Aldringham Hightown Green Little Thurlow Green Southolt Conyer's Green Wingfield Acton Upsher Green Boxford Mace Green Cattawade Hargrave Cavenham Cross Green Bedingfield Colchester Green Boyton End Lindsey Stoke Park The Heath Mendlesham Green The Woodlands Sotterley Friday Street Mill Green Horner's Green Willingham Laxfield Hitcham Yaxley Cross Green Darmsden Braiseworth Little Wratting Peasenhall Allwood Green Earsham Street Stonham Aspal Tostock Lower Hacheston Tan Office Kirton Low Green Rushmere Street Russel's Green Sproughton Wetherup Street Somerton Cuckoo Tye Poystreet Green Brockford Street Middlewood Green Freston Great Ashfield Alderton East End Timworth Rattlesden Little Blakenham Carlton Colville Great Wenham Mettingham Westerfield Kedington Shotley Cock Street Ballingdon Southwold Newman's Green Dorley's Corner High Street Green Felixstowe Kersey Tye Hinderclay Greenstreet Green Genesis Green Nayland The Marsh West End Great Blakenham Stansfield Somerleyton Gosling Green Levington Ixworth Thorpe Wingfield Green Nowton Pettaugh Framsden Cross Street Nacton Brightwell Martlesham North Green Naughton Homersfield Culfordheath Workhouse Green Daisy Green Hopton Swan Green Frostenden Middleton Moor California Fakenham Magna Cock & End Woolpit Green Trimley St Mary Swingleton Green Haughley New Street Belstead Barham Kentford Kessingland Clopton Green Brockford Green Middle Green Withersfield Middleton Bobby Hill Withermarsh Green Bradfield St Clare Mendham Holbrook Malting End Oak Hill Carlton Buxhall Fen Street Iken Thorney Green Mellis Green