Accounting Solutions
Year End Accounts
A company’s year-end falls on the anniversary of the month that it was first incorporated unless subsequently changed. To satisfy your statutory requirements, your company must prepare the appropriate sets of accounts and tax return each year. This will include a full set of accounts, an abbreviated set of accounts and corporation tax computation and return.
Some companies have been known to file too much information, providing their competitors with useful data that was not required. In fact, many companies only need an abbreviated set of accounts to be submitted to Companies House. The Stevens Partnership can work with you to prepare your necessary documents, ensuring that only the correct information is made available in the public domain. We can also advise on shortening or lengthening your accounting period as there may be benefits to be gained from that.
The Stevens Partnership also provides assistance in completing records of income and expenditure for sole traders’ and partnerships’ self assessment tax returns.
Year end can be a challenging time for many companies but if The Stevens Partnership is producing your accounts or carrying out your annual audit, we will ensure our work is carried out efficiently and with the minimum disruption.
Corporation Tax Returns
The minimisation of a company’s corporation tax liabilities can help maximise the amount of funds available to reinvest in the business or to return to the shareholders. At The Stevens Partnership Chartered Accountants, we have a range of services to help you cope with increasingly complex Corporate Tax legislation together with a full tax planning service including:
- Advice on optimum group and shareholding structures
- Reviews as required and agreed during the financial year in order to plan expenditure in the most tax efficient manner
- Identifying allowances available, particularly those not always immediately thought of, such as capital allowances on the purchase of a company freehold property or research and development expenditure tax relief
- Keeping you advised of developments and changes in legislation – both generally and specific to your industry
- Preparing company self assessment tax returns and supporting computations of tax liabilities
- Advising payment dates
- Dealing with HMRC on your company’s behalf.
Annual Return
Each year, all limited companies and LLPs are required to submit an annual return to Companies House. The Stevens Partnership can assist you with submitting your annual return, which is a record of key company information that you must provide by a designated date each year.
Annual returns are sent to Companies House where they are filed and made publicly available so that anyone can verify the details and legitimacy of any UK company. It is a record of general information about your company e.g. the address of your registered office, details of your directors, secretary, shareholders and share capital etc.
All unincorporated businesses are exempt from the legal obligation of making an annual return to Companies House. This includes self-employed sole traders and ordinary partnerships. Private companies are no longer required to provide details of shareholders’ addresses on the annual return. Different rules apply to certain public companies.
If you do not deliver your company’s annual return, the Registrar might assume that your company is no longer carrying on business and could take steps to strike it from the register.
The Stevens Partnership can ensure that your annual return is completed thoroughly and submitted to Companies House by your designated date. In addition, we also offer a Companies House monitoring service which means that we would be alerted immediately if documents were filed at Companies House, other than by us as your authorised agent. Many of our clients welcome the peace of mind this service brings, given that identity theft is becoming increasingly more commonplace.
Contact The Stevens Partnership for peace of mind and a thorough annual return service.
