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You are here: Home » Archives for annual accounts

annual accounts

If you’re in the midst of starting a new business, then the bookkeeping requirements are unlikely to be at the forefront of your mind. At this stage there can be far more pressing things for you to think about.

However, once your business is taking shape, you will need to start thinking about keeping up-to-date and accurate accounting records of your income and expenses. More than just a legal requirement, basic bookkeeping is an essential part of your ability to manage your business effectively.

But what kind of details are you going to need? Continue…

Every limited company must submit their accounts to Companies House each financial year. In this article, we look at how you work out the deadline for your first annual accounts.

If you are a limited company director, one of your legal obligations is to ensure that your company’s annual accounts are submitted to Companies House accurately and on time.
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Few people start a new business so they can do paperwork. Spending time adding up receipts or pushing invoices around a desk is nobody’s idea of fun – unless you’re starting up as a book-keeper or accountant!

Unfortunately it’s a necessary evil and something you need to stay on top of in your new business. Being disorganised and putting off paperwork just isn’t an option.

Her Majesty’s Revenue & Customs (HMRC) will fine you if you’re late getting essential information to them. And the longer you leave it, the worse the problem gets. So here’s what every small business owner needs to know about book keeping.
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