Annual Accounts & Company Tax Return Filing

Welcome to LPA Accountancy – Your trusted Accountants in Glasgow. Filing your Company Tax Return and preparing Annual Accounts can seem daunting, but we're here to help. This guide outlines the information you'll need to provide to ensure a smooth and compliant filing process.

1. Company Details

  • Company Name & Registration Number: This is crucial for identifying your company with Companies House and HMRC.
  • Trading Start Date: If your company started trading after its incorporation date, please provide this date. This is important for determining the accounting period.
  • Registered Office Address: Your official registered address as filed with Companies House.
  • Business Address (if different): The address where your business primarily operates.
  • Company Type: (e.g., Limited Company, LLP)
  • Accounting Reference Date (ARD): The date to which your company's financial year ends.

2. Financial Data

  • Bank Statements: Provide statements for all company bank accounts covering the entire accounting period. Clear and complete bank records are essential.
  • Sales Invoices: All invoices issued to customers for goods or services provided. Ensure these are numbered sequentially.
  • Purchase Invoices & Receipts: Documentation for all expenses incurred by the business. Keep clear records of all payments, including receipts for smaller purchases.
  • Cash Book/Spreadsheet: If you maintain a cash book or spreadsheet to track income and expenses, please provide this.
  • Credit Card Statements: Statements for any company credit cards.
  • Online Payment Records: Details of transactions processed through online platforms (e.g., PayPal, Stripe).

3. Assets (Items the company owns)

  • Cash & Bank Balances: As per your bank statements.
  • Business Equipment: Computers, machinery, furniture, vehicles, etc. Include purchase dates and costs for depreciation calculations.
  • Inventory/Stock: Value of stock at the beginning and end of the accounting period. Provide details on how the stock is valued (e.g., FIFO, LIFO).
  • Property, Vehicles & Other Fixed Assets: Include details of purchase price, date, and any disposals during the year.
  • Intangible Assets: Patents, trademarks, copyrights, etc.
  • Prepaid Expenses: Rent, insurance, etc., paid in advance.

4. Liabilities (What the company owes)

  • Loans & Overdrafts: Details of all outstanding loans, including interest rates and repayment terms.
  • Unpaid Invoices (Trade Creditors): Money owed to suppliers.
  • Tax Liabilities: VAT, Corporation Tax, PAYE, etc. Provide details of payments made and outstanding balances.
  • Accrued Expenses: Expenses incurred but not yet paid (e.g., rent, utilities, salaries due).
  • Deferred Income: Payments received for goods or services to be provided in the future.

5. Debtors (Who owes money to the business?)

  • Outstanding Invoices (Trade Debtors): Money owed by customers. Provide a list of outstanding invoices with dates and amounts.
  • Allowance for Bad Debts: If applicable, the amount you expect not to collect from debtors.
  • Other Receivables: Any other amounts due to the company.

6. Creditors (Who the business owes money to?)

  • Unpaid Supplier Invoices: Money owed to suppliers.
  • Outstanding Loans or Finance Agreements: Details of any loans or finance agreements.
  • HMRC Debts: VAT, PAYE, Corporation Tax owed.
  • Other Payables: Any other amounts owed by the company.

7. Payroll & Employees

  • Payroll Records: If you have employees, provide payroll records, including payslips, P45s, P60s, and P11Ds.
  • PAYE Details: Details of PAYE payments made to HMRC.
  • Employee Benefits: Details of any employee benefits provided (e.g., health insurance, pensions).

8. Director’s Transactions

  • Director’s Loan Account: Details of any money loaned to or borrowed from the company by directors.
  • Dividends Paid: Details of any dividends declared and paid to shareholders.
  • Director's Remuneration: Salary and any other benefits provided to directors.

9. Other Expenses & Adjustments

  • Business Mileage & Travel Expenses: Detailed records of business mileage and travel expenses.
  • Home Office Use: If applicable, calculations for home office expenses.
  • Depreciation: Calculations for depreciation of assets.
  • Bad Debts Written Off: Details of any bad debts written off during the year.
  • Other Deductions or Expenses: Any other allowable business expenses.

10. Additional Information

  • Previous Year's Accounts & Tax Return: Providing these helps us understand your business's financial history.
  • Details of any significant events during the year: For example, large purchases, disposals of assets, changes in business activity.
  • Shareholder Information: Names and addresses of shareholders and their shareholdings.

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