Our highly qualified compliance accounting team will help you gain control over your accounting compliance in Mayfair, London UK. We are very familiar with the local accounting regulations, and that gives us an advantage over any other business accountant company in the region.
The annual statement of your business is prepared from the financial records of your business at the end of every year. Your annual account must meet at least one of these standards: The International Financial Reporting Standard or the UK Generally Accepted Accounting Practice. To be able to achieve that the best solution is to hire an accountant who can make sure that your annual account meet the standards. If you choose to do it yourself and it turns out to be not complete, you can send a second annual account one that is amended or corrected. But it has to be for the same period as the first one. Also, you must point out that this is an amended version because they can reject it as duplicates. That is also the benefit of having a qualified accountant; you won’t be needing to send corrected ones.
You must be extremely careful when making your annual account to be ready on time. You will have a deadline when you have to send your annual account. If you miss the deadline, you will have to pay penalties. The cost of the penalty is increasing every three months, and after a year the cost will double. So you need to make sure that you will meet the deadline.
Professional Payroll Services
One of the benefits having a professional to do your payroll services is that they produce a variety of reports that can make things much simpler and easier and also help the business ensure that they are doing everything legally. The payroll may contain a record of every employee vacation or personal time that has been used. It also contains the total amount of money that the business pays to each employee.
Hiring a professional accountant to record your business financial transactions can be very helpful. Later on, when you might need some of that information, you will have it all organized and analyzed. To be able to finish your annual taxes you need to have a proper bookkeeping accountant.