Here’s an old joke, but it’s relevant… A man stands in a field, watching a hot air balloon descend towards him. The balloon halts three feet from the ground and the passenger in the balloon shouts down, “Hello! Where am I”?
The man in field answers, “In a hot air balloon, three feet above a field”
To which the passenger replies, “You must be an accountant, because that information, while factually accurate, is of no bloody use to anyone!”
Read MoreAs a new business or start up, you will probably want to know what is the easiest way to register a company in the UK.
There are various online websites that can do this for you at minimal cost. They offer extended statutory compliance services, for instance; registered office services, tax type registrations, yearly compliance packages etc. I have personally used Companies Made Simple and Rapid Formations and both of these websites were fast and competitively priced.
Read MoreI have been asked this question often lately, and my first response is “because it is so easy!”
In the past, you needed an accountant to purchase an accounting package and they would then perform your accounting services using a software package that they owned and holding your data on their servers. If you wanted to leave or needed to cut some costs, you had to kindly ask them to release your data and hope that your new accounting package could import your data in their format.
Read MoreYour 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.
Read MoreDo you have a limited company (registered in the UK) and want to draw money out of the company?
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