Limited Company Accounts

Preparing annual accounts is one of our core services at Ingles Accountancy. We can offer you the option to work with your own records or you may want us to gather the data as part of our bookkeeping service.

We will complete your statutory accounts efficiently and submit them on time, while ensuring they meet regulations and conform to submission standards.

The aim of filing accounts is to report the profit and loss the company has made and calculate the corporation tax liability, if any. The necessary documents to be included are the balance sheet, a profit and loss statement and notes on the accounts.

In accordance with the Companies Act, limited companies and limited liability partnerships of all sizes are legally required to file their statutory accounts with Companies House and HMRC within 9 months of their accounting period end.

Confirmation Statement

Every company, including dormant and non-trading companies, must file a confirmation statement every year. It confirms the information Companies House holds for your company is up to date.

Corporation Tax

Companies must pay Corporation Tax on profits from doing business as a limited company, a foreign company with a UK branch or office, or a club, co-operative or other unincorporated community group or sports club.

You do not receive a bill for Corporation Tax from HMRC. There are specific things you must do to work out, pay and report your tax. Prepared in line with your annual accounts, Ingles Accountancy can ensure your tax liability, if any is correct and filed in good time.

VAT Returns

Businesses that have a turnover of more than £85,000 over a 12-month period in the UK are required to register for VAT. It is also possible to register voluntarily before reaching this threshold and could be advantageous to some small businesses. There are various schemes that your business can work under, all of which Ingles Accountancy can help you with.

As a business owner operating in the UK, you are responsible for your company’s VAT return which is usually due every 3 months. Once you are registered, you will have to use the VAT return to show how much VAT you have charged on your sales, minus the amount deductible on your purchases. The resulting balance is to be remitted to HMRC, or claimed by you if it is a negative sum.

Self-assessment

It is important to file your self-assessment on time, as hefty fines have already been handed out to thousands of people across the U.K., due to confusion over dates and amounts. We can make sure you submit your tax return accurately and in a timely fashion, and that you are not missing out on allowances or deductions.

Bookkeeping

Recent statistics show small businesses can spend up to a quarter of their admin time on bookkeeping tasks. As a business owner your focus should be on growth and business development.

We understand that bookkeeping is a time-consuming endeavour that puts a strain on small companies, anxious to grow. Our priority is not only to get your books in order, but to ensure they remain that way. We strive to keep your business compliant and support its growth.

Payroll

We can look after your monthly payroll for you, so you can get on with running your business. We produce payslips, RTI (Real Time Information) submissions to HMRC, process the end of year returns, P11D and any holiday and statutory maternity/ paternity pay calculations.