We all like low accounting fees and accurate financial records are one way you can reduce your accounting bill. Good quality records are far easier for your accountant to work with thereby reducing the time it takes to process your tax return. The means of achieving...
The maintenance of an accurate bookkeeping system is important for all businesses.
HMRC and Business Link confirm that no matter what the size or type of business, the record keeping should include these items.
HMRC require tax returns to be submitted by certain deadlines to avoid penalties. From the 6 April 2011, HMRC have changed the way penalties are calculated meaning that even if you are one day late submitting your tax return, you will be fined £100 whether you have paid your taxes on time or not.
Management accounts are a useful tool used by you, the business owner to make timely decisions with regards to your business requirements.