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The Financial Management Centre in Ashford and Maidstone offers an affordable and reliable tax return and year-end account preparation service. Many business owners in Ashford and Maidstone experience difficulties in preparing/submitting their year-end accounts and tax return. Rules surrounding entries and deductions confuse many business owners. This confusion often leads to procrastination.
In fact many small businesses across the United Kingdom struggle to cope with compliance. In 2015 almost one million tax returns were submit to HRMC outside the 31st January deadline date. This led to a public outcry causing HMRC to abolish £100 fines for taxpayers providing a ‘reasonable excuse’ for their lateness.
Instead of struggling with compliance why not opt for The Financial Management Centre’s tax return and year-end account preparation service?
For an affordable fee our advisors work closely with you or your team in completing these essential documents. Both your tax return and year-end accounts are completed accurately and within set deadlines. Read the benefits of early submission here.
Limited companies operating in Ashford and Maidstone are obliged to submit annual ‘year-end’ accounts to Companies House in Cardiff. This obligation does not stretch to those trading by way of partnership or sole traders. This obligation is set out in the Companies Act 2006. A failure to submit ‘year-end’ accounts prompts Companies House to issue an automatic penalty. Penalties are charged on a sliding scale up to several thousand pounds. If you fail to submit year-end accounts on two consecutive years then fines are doubled. Year-end accounts must be submitted to Companies House within nine months after your ‘accounting reference period’.
If you choose The Financial Management Centre in Ashford and Maidstone to complete year-end accounts our advisor works closely with you and your team making sure accounts represent a true and fair view of business finances over the period in question. If you do not receive monthly or quarterly management accounts your year-end accounts are probably the only record of financial performance for the requisite period in question. The service we provide is affordable and means you free up precious time to spend on core business activities instead.
All companies operating in Ashford and Maidstone must file a tax return to HMRC each year. The tax return details revenue and profit/loss for the period in question. For limited companies the tax return covers the ‘accounting reference period’. For sole traders and partnerships the return covers the official ‘fiscal year’ from 6th April until the following 5th April each year.
Limited companies must file a Corporation Tax Self-Assessment (CTSA) using form CT600. This form must be submit within nine months after the end of your elected ‘accounting reference period’.
Partnerships and sole traders must file a Self-Assessment Tax Return (SATR). This document is filed to HMRC over the Internet. The deadline set by HMRC is 31st January each year. During 2015 almost one million people failed to submit their return on time. This figure signifies many small business people struggle with the requirement to complete and file their tax return. A lack of understanding often leads to procrastination. If you submit your tax return after 31st January you risk being charged a £100 fine and interest charges on tax now overdue.
If you too struggle with your tax return responsibilities why not consider making an appointment with The Financial Management Centre in Ashford and Maidstone today. Our tax return service is affordable and accurate. Our advisors work closely with you and your team making sure all legitimate expenses are deducted from your tax bill.
Our advisors make sure your return is filed well before 31st January. Click here to learn the many advantages gained by submitting your return early.
Contact The Financial Management Centre in Ashford and Maidstone today on 01795 883275. Alternatively complete the enquiry form.
Ashford & Maidstone
The Financial Management Centre UK Limited.
Registered in England & Wales company number 06304852.
Basepoint Business Centre, Metcalf Way,