Annual Company Accounts...
...services from just £64pm
If you're running a company of any size, you need to make sure you stay on the right side of Companies House and HMRC - and that means doing lots of paperwork for your company annual accounts.
Every year, you're going to need to push some pencils to avoid getting into serious hot water and getting fined. If you really get it wrong you could face prosecution or get struck off the register and lose your assets. Even if your company is dormant, you've still got to hit the deadlines.
RIFT Accounting takes care of more than simply preparing company annual accounts. We're here to make sure your business thrives by staying on top of all the regulations, requirements and deadlines it faces. We can keep you on the right side of:
Preparing company accounts can be a complex and awkward matter, but the right advice and guidance make all the difference. Here are a few things you need to know straight away:
In general, the important thing about understanding company accounts is to keep your all accounting records for at least three years. As for what you need to send in, here's a quick run-down:
RIFT Accounting takes care of all your paperwork and obligations, supporting your company and protecting it from the penalties and pitfalls of missed deadlines or incomplete records.
Can Companies House offer technical advice about my accounts?
Basically, no. You might get some loose, general help, but nothing approaching technical advice or guidance on legal issues.
Is there any way of getting a deadline extended if I need more time?
There are steps that can sometimes be taken to extend a filing deadline. You have to send in your request before the time's up and explain why you need the extension.
What if my accounts are rejected?
Companies House takes a dim view of improperly submitted paperwork, so getting it wrong means doing it all again with no extension to the deadline.
Are there any other rules I need to follow to stay safe?
There certainly are. For example, if you change your registered office address, appoint a new Director or Secretary (or lose one), or if any of your personal details change.
It can be a nightmare staying on the right side of Companies House, but if you talk to RIFT Accounting it doesn’t need to be.
All in all when it comes to preparing company annual accounts, it's a lot to keep track of and it's easy to get bogged down in the details. Talk to RIFT Accounting to see how we can cut through the red tape and keep your accounting headache-free.
If you're dealing in goods, you'll also need to keep details of any stock held and various other bits and pieces.
There's no point in sugaring this pill. When it comes to Companies House, there are a lot of ways to get things wrong and only one way to get them right.
They don't care if you tried hard or meant well. Every scrap of paperwork you send them has to be accurate and complete, and if you don't get your homework done and turned in on time you've committed an actual, criminal offence!
It doesn't even have to be your own fault. If one of your employees makes a mistake and misses the deadline, you're still responsible for it. The fines range from £150 to £1500 for a private company, or £750 to £7500 for a public one.
If the mistake is bad enough that the Registrar decides you're no longer in business, you could find your company dissolved and its assets claimed by the Crown.
Going to court for failure to get your Annual Return or accounts in before the deadline is a Very Bad Idea.
You could easily end up with a criminal record, find your company struck off the register and be disqualified from being a Director of a company altogether. On top of that, you may also be looking at thousands of pounds per offence in personal fines, depending on the circumstances. Believe us, you're better off just doing it right first time.
If all this is starting to sound pretty terrifying to you, it’s not really meant to, but it shows that if you bury your head and ignore things when they go wrong, they will just get worse and worse.