How Much Important it is to Keep Accounting Records
As per the Companies House rulings, all companies need to maintain accounting book whether in the trade or not. GoRings can be of help by offering services like a small company accountant or limited company accountants. Our team will make sure that your business complies with the followings as per the UK Govt. rules:
1. Records showing transactions of credits and debits
2. A complete record of assets and liabilities
3. Stock held statement after the completion of each accounting year
4. An elaborate statement showing good purchased and sold with details of seller and buyer
What are the Penalties for Non-Compliance with Accounts Filings
Non-compliance with accounts filing could be seen as a criminal offence and also attracts a civil penalty. Late filing charge could vary in the range of £150 to £1500.
GoRings company accountant is the right choice for you when you need to comply with Company House laws and avoid any unnecessary fees or charges.
How to Get Small Companies Exception Benefits through Small Company Accountant
If your company meet the following conditions for accounting year beginning on or after January 1, 2016, you may get exceptions:
1. Yearly revenue must be £10.2 million or less.
2. The balance sheet transactions must be £5.1 million or less.
3. The number of employees must be 50 or less.
GoRings company tax accountant or limited company accountants can help you assessing your business the right and accurate way so that you can enjoy all exceptions of being a small company in the UK.
What Does Limited Company Accountants Tax Planning Involve
Corporate tax planning for a limited company includes various areas such as:
1. National Insurance
2. VAT returns
3. PAYE of HMRC
4. Making the most of tax relief avenues and ensuring compliance
5. Reducing tax exposure for limited company
6. Defining the most tax-effective arrangement for your business
GoRings Accountants is able to cater to all above corporate accounts tax planning through a pool of dedicated company tax accountant.
How can GoRings save you from Most Common Tax Mistakes that Businesses Make?
When you get a dedicated small company accountant or limited company accountants service from GoRings, you never make the following mistakes:
1. Not making business and personal finances separate, which ultimately makes business accounting confusing and become inefficient with more tax burden.
2. Usual merchants mostly fail to claim tax deductions which are legitimate. They are either unaware or didn’t plan expenses properly to file the deduction claim.
3. Some businesses may end up confusing contractors with employees while maintaining accounts.
4. Waiting for the last due date for preparation and submission of accounts report to the Companies House. This has the potential of missing the deadline and paying penalties.
How Competent are GoRings Small Company Accountant to Regular Updates by Company House
GoRings small company accountant service is highly qualified and always stays up to date as per the Company House rules. The existing format for statutory accounts reporting by small companies have changed. As per the UK generally accepted accounting principles (GAAP), small merchants now have the following options:
1. May use the similar accounting standard as non-small companies – FRS 102
2. May use the FRS 102 reduced declaration regime (section 1A)
3. If eligible, apply for an alternative standard such as Micro-entities – FRS 105
Are you looking for a reliable and professional team who can work for you to resolve bookkeeping, accounting, tax accountant related issue? Please call us or write an email to email@example.com. You may submit this quick form and we will get back to ASAP.