When Does Your Income Tax Need to be Submitted?

Your company income tax bill needs to be paid 9 months after the company year end.

The returns needs to be submitted within 12 months after the companies end of year.

It is always a good idea to be prepared and to get your accounts prepared and financials approved as soon as possible.

In order to finalise your tax return, your accountant will need the following:

1. Bank statements

2. Invoices issues

3. Invoices for any purchases

4. VAT returns if the company is registered for VAT

5. PAYE reports if the company is registered for PAYE and salaries have been paid

6. Dividend vouchers

7. Fixed asset register - This is a schedule of all assets bought and sold since the inception of the company

8. Any other information you think applicable i.e. debtors at year end, outstanding supplier statements or significant contracts entered into

It is also a good idea to make sure that the directors self-assessment gets done by the company that does the companies income tax return. If this is not the case, make sure the directors tax agents knows about drawings and/or dividends taken by the directors and shareholders as well as when this was done.

It can take a while to prepare the accounting record and financials, so give your accountant at least 2 weeks to do this.

If you would like to find out more or would like Anlo to prepare your accounts to submit your company income tax return, contact us on annja@anlofin.com or +44 739 167 4769.