A good accountant will not only save you time and money but they will also help you to grow your business.
We know that annual accounts and taxes can be a minefield, complicated and time-consuming, so why not relax in the knowledge that we will handle everything for you, for a fixed monthly fee. (Other payment options are also available- see our tax section for details of the packages we offer). You will have a dedicated accountant to offer advice and help, so you can focus on building your business.
Monthly payment options are also available.
By law, companies must submit accounts relating to their business. You must include profit and loss accounts, a balance sheet, along with a cash-flow statement and a directors’ report.
On first registering with Companies House, you have 21 months before your first accounts need to be filed. Thereafter, you will need to file again nine months after your company’s financial year ends.
It is important to note that there is an automatic penalty if accounts are filed late at Companies House. This is between £100 and £1,000 for a Private Company and £500 and £5,000 for a Public Limited Company.
Directors can be legally charged for not filing certain documents. If convicted, they will be fined up to a maximum of £5,000 for each offence and will also have a criminal record.
It is therefore important that your records are kept up to date and that is something that we, at CG Incorporations can help you with.
Our fully qualified, certified accountants can assist you in keeping accurate records to support you and your business, so you are able to successfully run and manage your company.
A: Balance sheets are basically a summary of the financial dealings of a company or individual. This may be a business partnership, corporation, PLC (private limited company) or a sole ownership.
A: These are the financial statements of a company, showing their revenues, costs and expenses which have been incurred during a set time, usually over a quarterly or yearly period. They provide comprehensive information about whether a firm can generate profit by increasing revenue, reducing costs, or both. It shows the revenues are transformed into the net income or net profit. It is therefore a basic trading summary - how much has been spent running the company and how much has sold.
A: Cash flow statements are basically financial statements that demonstrate the amount of cash entering and leaving a company. They show how well the company generates cash to fund operating expenses and pay its debts.
A: Statutory accounts keep your records updated with Companies House. They also enable shareholders see how your company is performing and therefore have an important role in the running of your business.
A: Yes, UK directors must register for self-assessment and file personal tax returns. Any taxable income, for example shareholder dividends must be disclosed to HMRC. Penalties apply for late submissions and late payment.
A: Yes, of course! Even if you haven’t registered your company with us, you can still use CG Incorporations as your accountancy firm. (We may need you to provide a few details, i.e. company name, UTR number and Companies House authentication code).
A: Yes you do. Even if your trading has been limited a corporation tax return must still be filed. Why not contact us for a quote? Our prices are very competitive.
A: One of our experts will contact you and answer any questions. We will also need your proof of identity and proof of address (not older than 3 months).
We are committed to understanding your accounting needs and providing you with the highest level of service and promise to exceed your expectations whilst keeping prices as low as possible.
I've been a client of CG Incorporations for more than 5 years. They've been always helpful and reliable. They remind me in time to provide everything for my yearly tasks, therefore I was never late filing my company accounts. Highly recommended.