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Are you a Sittingbourne or Herne Bay business who struggles with your year-end accounts and/or tax return each year?
If you are please know you’re not alone.
Last year over 800,000 small business owners failed to submit their tax return on time leading to an unprecedented level of fine revenue for HMRC. Our service means you gain utter piece of mind your year-end accounts and tax return are submitted respectively to Companies House and HMRC on time and correctly. We review your bookkeeping systems and make all necessary computations and submissions on your behalf. This means you win back time to spend on your core business activities without the stress of having to comply with red tape.
If you are a limited company in Sittingbourne you are required to file an Annual Return to the Registrar of Companies at Companies House each year. You are required to do so under the Companies Act 2006. Sole traders and partnerships are not required to file this document. You must file this documentation within 9 months of your year-end. Many Sittingbourne businesses who fail to submit on time unfortunately become subject to fines. These fines rise depending on the period of time you fail to submit your year-end accounts. Fine are capable of rising into four digitals and your business may be struck off the Register entirely.
Many small businesses trading as a limited company struggle to file annual accounts each year due a lack of understanding and time required to competently complete this documentation. If you choose The Financial Management Centre in Sittingbourne to complete your year-end accounts you can rest assure the task is in safe hands. For many years now our advisors have assumed control of this important function for thousands of local businesses in the Sittingbourne area. In fact we offer a range of company secretarial services.
All Sittingbourne businesses are required to file a tax return to HMRC regardless of business structure. Your tax return details your revenue and profits for the financial year. For sole traders and partnerships this is between 6th April to 5th April each year. For limited companies the financial year depends on your elected ‘accounting period’. Limited companies must file the return 12 months from the end of the first accounting period and within nine months after the period thereafter.
If you are a partnership or sole trader in the Sittingbourne area you must file a Self Assessment Tax Return (SATR) before 31st January relating to the last financial year as outlined above. A failure to do so could equate to hefty fines and interest on the unpaid tax. We recommend our clients submit the tax return well before the end of January. This does not mean the bill must be settled before this date but it gives you a tangible figure to be paid by the end of January.
Limited companies must file their Corporation Tax Self Assessment form (CTSA) using form CT600. Our advisors make sure this form is submitted to HMRC before the set deadline with reference to your elected accounting period.
Our advisor work closely with you to make sure you take advantage of each tax relief available to you, including taking stock of all tax deductions you may claim.
Our tax return service is ideal for the below list of businesses and individuals:
Sittingbourne & Herne Bay
The Financial Management Centre UK Limited.
Registered in England & Wales company number 06304852.
Basepoint Business Centre,