Smith & Brown Certified Accountants are here to help you with your company’s annual accounts and tax planning. In handling your company accounts for you, we will meet the submission deadline on your behalf, giving you the peace of mind that your submission will be complete and correct.
All our accountants are chartered tax advisers, which means that they have the skills and experience of the UK tax system to help your business save money on your tax bill. This means more money in the bottom line for you!
Annual accounts can be referred to as ‘company accounts’, ‘yearly accounts’, or ‘financial accounts.’ Annual accounts are made up of financial statements and records which have been collected over a set period of time (usually twelve months).
These contain comprehensive information about a company’s transactions, finances and operating performance at the end of the financial year. The information from the annual accounts is used to prepare a Company Tax Return for HMRC and estimate the amount of corporation tax owed by a company.
A financial year is usually a twelve-month period for which annual accounts are prepared. A company’s financial year usually begins on the day of incorporation for companies that have just been set up, and repeats each year on that date.
All companies, except for small or dormant companies, must deliver full annual accounts to Companies House and HMRC. Company directors have a legal responsibility to ensure the annual accounts are processed in a timely manner before the statutory filing deadline. The following must be included in a company’s full statutory annual accounts:
Small businesses can prepare shortened accounts consisting of just a balance sheet and notes. A company can be assigned a ‘small business’ status if it meets any two of the following requirements:
Accountants can be used by all types of businesses, from sole traders to large corporations. There are many benefits to investing in a credible accounting firm, not least the time and money business owners can save and the reassurance that their accounts are accurate and correct.
An accountant can help small businesses with many other financial matters beyond annual accounts and tax returns. They can help grow your business once it’s up and running, prepare financial projections, identify tax saving opportunities, assist with audits and provide advice on ways to raise extra capital.
With the right accountant, not only will your business’ finances will grow, but your own time will be freed. This means you can focus on the day to day running of your business, without the extra hassle of sorting your own accounts!
If you decide to hire an accountant to complete your company’s annual accounts, you need to provide them with several business and accounting records, such as:
Receipts and invoices for all purchased/sold goods and services.
Company directors are ultimately responsible for the upkeep of annual accounts records and the regular filing of relevant documents at HMRC and Companies House. If you do not feel comfortable or capable in completing your company’s bookkeeping or accounts, then you should look at hiring an accountant, like Smith & Brown. The risk of incorrect filing could be detrimental. Professional accountants will not only do all the hard work for you, but they can also help you minimise your tax bills with specialist knowledge on how to manage your finances.
Smith & Brown provide a high-quality accounting service for small businesses of all shapes and sizes. We are an established firm of relationship-led accountants, with clients throughout the Northwest of England. Our accounting services have helped countless small business owners in a variety of industries. From trades and services to retail and hospitality, wherever your passion may lie, Smith & Brown are here to help your business flourish.
We realise that running a small business can be demanding and time consuming. Above all else, we’re committed to understanding the ins and outs of your business and designing an accounting service that’s especially for you. We build lasting relationships with our clients that work.
Over the past twelve years we’ve developed a process-driven approach, which helps small business owners with the daily challenge of getting out from inside their business and staying on top of it. Our ‘Smart Growth’ uses the latest in data collection and processing technology to put you firmly in control of your business. We’ll help you find scalability and develop the confidence and vision you need to drive your businesses further.
Over the years, we’ve handled accounts and provided direction for hundreds of diverse businesses. Our qualifications and decades of experience mean that we understand the world of business and accounting. Whether it’s strategic analysis or the subtleties of taxation planning for unincorporated companies, we’ve got it covered.
Once your company is registered, Smith & Brown can provide professional accounting services to help manage your company. Our accounting services have helped countless small business owners in a variety of industries. From trades and services to retail and hospitality, wherever your passion may lie, Smith & Brown are here to help your business thrive.
We offer in-depth analysis to see how your small business or company is performing, with the difference between our accounting services and the rest being our ability to see the bigger picture for your business. We focus on your goals, what you want to achieve and provide advice on the best route to get there.
Besides business startup and company formation, Smith & Brown also offer the following accounting service for small businesses:
We can handle your small business’ annual accounts for you, meeting the submission deadline on your behalf, giving you the peace of mind that your submission will be complete and correct. Our accountants are also chartered tax advisers, which means that they have the skills and experience of the UK tax system to save you money on your tax-bill, which, in the case of your accounts, means more money in the bottom line for you.
In short, we’ll help you to set up and manage whatever system of bookkeeping you require. All our bookkeeping solutions are designed to give you insight, control and easy access to your accounts whenever you need it. We charge a fixed annual fee so you can anticipate your costs without any hidden surprises.
Xero Cloud Accounting gives you access to a huge range of real-time data about your business 24 hours a day. Cloud based accounting software gives you, your finance team and your accountant, access to the same data simultaneously without having to send it to each other by email or physical methods like USB or CD.
We offer a completely comprehensive Payroll service through our own sophisticated cloud-based software. Using this system, you can easily handle all your payroll requirements, as well as maintain a full HR database.
Does sorting your business’ corporation tax return fill you will worry and dread? Smith & Brown can simplify the process, so you don’t have to deal with HMRC, never miss a deadline and always pay the correct amount in tax.
We can handle your claim for R&D tax relief from start to finish, whilst making sure it’s as smooth, hassle-free and cost-effective as possible. Rest assured that our team of R&D tax advisors are here to help make sure your claim is accurate and effective.
Smith & Brown can handle your personal tax return no matter what state your bookkeeping is in! We’ll provide a flexible service to you that lets you give us the information we need in any way you like and takes away the hassle of sorting your finances completely.
If you have any comments or questions about your small business’ accounts or finances, Smith & Brown are here to help. Whether you simply want some advice, or to arrange a meeting with us face to face, get in touch. We look forward to hearing from you!