Year-End Accounts and CT Returns Services

The difference between the profit shown on accounting records and taxable profits for corporation tax can be significant. It is important to keep clients informed about HMRC’s changing rules concerning income and allowances.

Year-end is the date when a company’s accounting period ends. At this time, all the limited companies outsource year-end accounts and CT returns services to submit their financial documents to Company House and HMRC of the UK.

Accountingbytes, an accounting service provideroffers robust year-end accounts and CT return services, allowing businesses to save time and effort on calculating tax payments, filling out company tax returns, and preparing statutory accounts.

What is the Importance of Year-End Accounts and CT Returns?

All limited companies are required to file their accounts with the Registrar of Companies at Companies House and submit their company tax returns to declare their income, profits, and due tax to HMRC, or else they will get penalized.

Why Choose AccountingBytes for Year-End Accounts and CT Returns Services?

We have a specialized team of potent chartered accountants and tax advisors who guide, inform, and assist businesses in their accurate and timely submission of year-end accounts.

These are the benefits of associating with our year-end accounts and CT return services.

  • Large Client Base:We have worked with more than 2,000 clients and have a huge clientele in the market.
  • Easy Submission:We also manage the complete submission process of the year-end accounts and company tax returns to the HMRC and Company House.
  • Analysis of Bookkeeping:Accuracy of the financial statement and data is crucial for the year-end accounts and CT return (CT600). Our experts determine the errors and omissions in the bookkeeping processes and rectify them, defining the financial position of the company.
  • Legal Compliance:Our services ensure that companies are legally compliant and obey the rules and regulations.
  • Utilization of the Best Software:We use the best accounting software in the market to maintain accuracy and smooth submission to government authorities.
  • Experienced Professionals:We have a dedicated team of experienced accountants that includes CAs, CPAs, MBAs, ACCAs, and FCAs. These experts have leveraged and uplifted the business performances of more than 500 businesses.
  • Guarantee:We guarantee accurate year-end accounts and submission of company tax returns (CT600).

How Does Accountingbytes Help with Year End Accounts and CT Returns?

  • We calculate the corporate tax liability of our client, considering the income, d epreciation, administrative expenses, cost of goods sold, and salary expenses.
  • We ensure that all the necessary computations are correctly calculated while preparing and submitting the company tax return (CT600).
  • Our professionals prepare the statutory accounts of our clients to track and benchmark the company’s performance.
  • After the preparation process, our experts inspect the year end accounts and tax return submissions.
  • After the preparation process, our experts inspect the year end accounts and tax return submissions.
  • We also submit the year end accounts and CT returns after all computations, helping businesses improve their efficiency of operations.
Frequently Asked Questions
What are year end accounts?

The year end accounts are the accounts that summarize the company’s performance across the financial year.

What accounts are closed at the end of the financial year?

During the process of ‘closing the books’ or ‘year end accounting’, the accounts that need to be closed are revenue, expenses, and dividends. Remember, asset, liability, common stock, or Retained Earnings accounts are not closed, as they carry their balances forward to the next financial year.

What do corporation tax and company tax returns mean?

Corporation tax is the percentage of tax charged on the taxable income of a company. It is calculated after making deductions like the Cost of Goods Sold (COGS), administrative expenses, depreciation, etc.

The company tax return is the financial information that most companies file with HMRC each year to report on their earnings, losses, loans, and any other factors relevant to their tax liability.

How often do I need to file a company tax return?

A taxpayer needs to file a company tax return once every 12 months; this can vary depending on the circumstances.

What is the difference between corporation tax and income tax?

Income tax is a tax that the government imposes on personal income, such as salaries or wages, whereas corporation tax is the tax levied by the government on the income of domestic and foreign companies.