In the UK, businesses need to report accounts for HMRC and Companies House annually. The ‘year end’ refers to the day that your business’s financial year ends.
If you’re a Sole Trader, the best date is the 5th of April, to match the end of the UK tax year. This avoids a lot of work and confusion with HMRC!
If you are a Limited Company, then Companies House will set your year end on the last day of the anniversary of the month in which you incorporated the company.
If you use Duport Accountants, we will file all your accounts for you on time, there’s just a couple of things you’ll need to get together (unless of course you’re already using our monthly service in which case its already done):
- Your sales invoices or details of your sales
- Find all the paperwork for your purchases and expenses
- Gather your business bank statements for the year
Once we have all the necessary paperwork, it’s our job to do the work. You just focus on running your business!