To enable us to protect your interests it is important you submit your information to us as soon as possible after your accounting period end (and within at least four months).

This timescale is designed to ensure there is adequate time to draft your accounts and tax return and then resolve any outstanding points in good time before the deadline for submission. This will help reduce your exposure to inaccuracies and error whilst also demonstrating reasonable care has been taken.

We require access to all the business’s financial records for the year. This may include:

  • a copy of your records either paper or in a spreadsheet.
  • a year-end backup of your computerised accounting system data.
  • access to Cloud systems such as Xero, Sage or Quickbooks.

All the entries for the period should be confirmed as posted and reconciled.

When all your relevant records and documentation for the period are collated please either forward them to us or contact your Partner or Manager.

This will enable us to schedule and make any arrangements with you to carry out the work. Should you have any specific date (other than the statutory filing date) when the accounts need to be completed, then please let us know.

When completing your records please include the following for the accounting period (where applicable)…

  • A list of stock and work in progress, valued at the lower of cost or sales value
  • A list of any income to be accrued for the period e.g. goods sold or services rendered but not yet invoiced
  • The amount of any physical cash held
  • A list of any fixed assets bought or disposed of during the period
  • All other relevant documentation

Please note

HM Revenue & Customs now penalises taxpayers who do not take reasonable care with the record keeping and accuracy of their tax affairs.

If you have any questions about this process, require explanations of what documentation is necessary or need any additional help, please contact us.

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