Over the last decade many diligent Andover businesses have come to learn a secret when it comes to preparing their tax return and year-end accounts. This secret allows them more time to spend on profit-enhancing activities rather than on compliance.
In case you don’t know this secret we’re talking about The Financial Management Centre’s year-end accounts and tax return services.
The sad truth is many small business owners operating in Andover are no different to the rest of the United Kingdom in struggling to prepare and submit their tax return and/or year-end accounts by set deadlines. In 2015 over 800,000 small business owners failed to submit their tax return online by 31st January resulting in an unprecedented level of fines.
The Financial Management Centre’s can eliminate the chances of missing deadlines and receiving fines with their year-end accounts and tax return service offered to Andover businesses.
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YEAR-END ACCOUNTS SERVICE IN ANDOVER
Andover businesses operating as a limited company are required to submit annual year-end accounts to Companies House in Cardiff. Companies are required to carry out this step under the Companies Act 2006. Year-end accounts must be filed within nine months of your elected accounting reference period. Companies House issues a late fee of £150 to all business filing accounts after this deadline.
The Financial Management Centre offers an affordable and reliable year-end accounts preparation service. Our advisors work closely with you and your staff in making sure your year-end accounts are prepared accurately and within set deadlines.
If you are not receiving monthly or quarterly management accounts then year-end accounts offer the only indication the business’s health during the period in question. Many businesses in Andover rely on information contained within year-end accounts to base important business decisions upon for the remainder of the fiscal year.
Make sure your year-end accounts are prepared accurately by choosing The Financial Management Centre in Andover.
TAX RETURN SERVICE IN ANDOVER
The Financial Management Centre offers tax return services in the Andover area. This service is ideal for limited companies, partnerships, sole traders, private landlords and families earning between £50,000 and £60,000 and claiming child benefit.
Those required to file a Self-Assessment Tax Return (SATR) must do so by 31st January each year. This includes those trading under a partnership or as a sole trader. The SATR details revenue and profit/loss occurring during the prior fiscal year. The fiscal year runs each year from 6th April to 5th April.
Limited companies in Andover must file a Corporation Tax Self-Assessment (CTSA) using form CT600. Company directors must also return a SATR. Form CT600 must be filed within nine months after your accounting reference period conclude.
For both SATR and CTSA a failure to submit by the required due date results in a fine and interest charges on tax past-due.
The Financial Management Centre works closely with your business to make sure your tax return is completed correctly and well in advance of deadline day. Click here to learn the many advantages gained by submitting the return early.
Our advisor identifies each deductible expense item which could result in you paying less tax compared to completing your tax return yourself. This avoids a HMRC tax investigation and potential fines and/or interest charges on overdue tax.
We also review your bookkeeping system when carrying out this service.
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HOW TO MAKE AN APPOINTMENT
Contact The Financial Management Centre in Andover today on 01264 726033. Alternatively complete the enquiry form.