All businesses must keep records of their income and expenses (bookkeeping of accounting records). HMRC can fine businesses £3,000 if they do not keep their accounting records.
Limited companies must keep their accounting records for 6 years while self employed individuals and partnership must keep them for 5 years.
There are penalties for late filing company accounts, corporation tax and self assessment tax returns.
With our expertise and experience in bookkeeping and accounts, you can be confident to leave all the hard and boring jobs with us and you can spend your time to concentrate on growing your business instead.
Our team and our services are always freindly and professional. We are one of the best bookkeeping and accounts services providers in Bracknell.
Need accountants in Bracknell to help with your tax return, contact us today for a free initial consultation.
When you start your business in the UK you must register your business with HMRC. You must also file your tax return annually.
Limited companies will register and file their corporation tax returns while partnerships and sole traders/self employed individuals file their partnership and self assessment tax returns respectively.
There are penalties for missing the registration and submission deadlines.
We have years of experience in helping clients register and file their tax returns.
We can also help you with the tax efficient ways of withdrawing funds from your business.
If your business turnover is £85,000 or more (current threshold), you must register your business for VAT and file your VAT returns with HMRC. You can also register your business for VAT voluntarily. You can choose to file the VAT returns monthly, quarterly or yearly.
There are several VAT schemes you can choose:
1. Standard scheme
2. Flat rate scheme
3. Annual accounting scheme
4. Cash accounting scheme
We can help you with your VAT registration, returns and scheme advice. We can provide this as part of a package or an add-on service with competitive fees.
Additional services such as payroll or management accounts can be added if required.
Why choose MW Accounting Services: