Statutory accounts and corporation tax:
It is required by law for sole traders, partnership and limited companies to prepare their accounts on annual basis. Main purpose of accounts is to find financial performance and financial position of a business during an accounting period.
All limited companies have to file statutory accounts to ‘Companies House’ annually within nine months following the end of accounting period.
Along with the statutory accounts, limited companies are also required to submit the corporation tax return. The corporation tax return would be necessary for the purpose of paying the tax a business owes to the government.
Corporation tax return has to be filed within twelve months following the end of accounting period. However corporation tax should be paid to HMRC within nine months and one day following the end of accounting year or period.
If your business needs advice on the filing of statutory accounts or the submission of corporation tax, please get in touch with us and see how we can help you.
We provide cost effective packages for business and clients to cover various areas of accounting and taxation matters so our valuable clients don’t have to go through the hassle of incurring one off costs and can avail the maximum benefit of working with us.