Complying with the law
There are many different records that have to be kept by a business
- VAT, PAYE, accounting records of sales and purchases - to name but
a few. If your records are inadequate in any of these areas, you could
fall foul of the law.
All businesses have to submit accounts to the tax authorities. All limited companies and limited liability partnerships also have to file annual accounts with the Registrar of Companies which follow specific guidelines.
Companies with a turnover of more than £5.6m (for companies with an accounting date after 30 March 2015) are required by law to undertake an annual audit, carried out by a registered auditor. However, even when it is not a legal requirement, most businesses choose to have this independent review because of the positive benefits it can provide.
A Demacks. Chartered Accountant will know which records you are required to keep, help you to keep them properly and ensure that they are filed with the relevant authorities at the right time.
Setting up in business | Legal Compliance | Keeping informed | Planning for profit | Raising finance |
| Managing growth | Buy, sell or merge | Minimising tax | Agreeing tax liabilities | Tax Rates 2015/ 16 |
Business start-ups, Accounts Preparation, Tax Planning and Advice, Tax enquiry and investigations, Personal & Business Taxation including Income Tax, Self Assessment Tax, Coming into/Leaving the UK, Inheritance tax, Capital Gains Tax, Corporation Tax, National Insurance, PAYE, Value Added Tax Advice and Company Secretarial services
What a Demack Chartered Accountant can do for you? Call 020 784 1122