Annual Accounts Services

for Companies, Contractors and Small Businesses

When it comes to annual accounts, many small businesses only need to file unaudited accounts, while larger businesses may require audited accounts. With evolving regulations like those introduced after Brexit, even some small companies may now fall under group audit requirements due to the size of the group. These legal obligations can seem daunting, but with the support of expert accountants, businesses can navigate these complexities smoothly. At Arette Management Consultants, we specialize in simplifying this process, ensuring your annual accounts meet all legal requirements while maintaining accuracy and detail.

Annual accounts are far more than routine documents; they are critical records that reflect your business’s financial health. These time-consuming and often complex documents must be handled with precision, as even a small error can lead to non-compliance with Companies House and HMRC regulations. By collaborating with Arette Management Consultants, your accounts will be filed accurately, ensuring compliance with requirements such as submission deadlines within 9 months of the year-end. Our team of chartered accountants leverages years of expertise to prepare and submit hundreds of annual accounts for businesses each year, all while providing a friendly, speedy, and professional service. With our five-star reviews and proven success in helping clients stay on track with their goals and financial objectives, we take pride in making sure your annual accounts can stand up to scrutiny. Whether it’s meeting the demands of a company tax return, avoiding fines, or ensuring compliance with all necessary laws, our experts are here to advise and guide you.

How Annual Accounts Services Simplify Business Finances

We will take care of your Annual Accounts:

1. Sole Traders Accounts

Sole traders are individuals who own and manage their business operations independently. Accounting for sole traders focuses on recording all revenue from sales or services, accurately tracking business expenses to optimize tax deductions, and producing basic profit and loss statements. Sole traders must also complete self-assessment tax returns to report income and pay personal taxes. This type of accounting is straightforward and cost-effective, making it ideal for entrepreneurs with simple business structures and direct tax obligations.

2. Partnership Accounts

Partnership accounts are designed for businesses co-owned by two or more individuals or entities. These accounts require detailed profit sharing as per the partnership agreement and involve tracking each partner’s investments and withdrawals through capital accounts. Comprehensive financial statements, such as balance sheets and income statements, are crucial, along with filing partnership tax returns where each partner is responsible for their tax portion. Partnership accounting simplifies reporting for each partner while promoting shared financial responsibility and resource pooling.

3. Limited Company Accounts

Limited company accounts cater to businesses that are separate legal entities from their owners. This type of accounting includes preparing statutory financial statements like detailed balance sheets, profit and loss accounts, and cash flow reports. Additionally, it involves calculating and filing corporation tax returns, ensuring regulatory compliance, and managing director-specific financial activities such as loans and dividend payments. This structured approach provides limited liability, enhances credibility, and offers access to various tax advantages.

4. Contractors Accounts

Contractor accounts are designed for individuals working independently, often with multiple clients, who must navigate unique tax considerations, including IR35 regulations. These accounts ensure compliance with IR35, manage allowable expense claims for tax relief, and assist with VAT returns if applicable. Managing dividend payments for shareholder contractors is also a key component. Tailored accounting for contractors helps maximize take-home pay and ensures adherence to relevant tax laws.

5. Rental Accounts

Rental accounts are vital for property owners earning income from leasing residential or commercial properties. This type of accounting keeps detailed records of rental income and allowable expenses, such as maintenance and mortgage interest, and calculates property depreciation. Comprehensive rental income statements provide insights into profitability, while tailored tax reporting helps landlords claim deductions effectively. These accounts ensure tax compliance and optimize tax relief opportunities for property owners.

6. Charities and Trust Accounts

Charities and trust accounts require specialized handling to meet stringent regulatory and ethical standards. Fund accounting is essential to track and manage funds designated for specific purposes, ensuring transparency in how donations are utilized. Detailed reporting is provided to stakeholders and donors, and compliance with charitable regulations is rigorously maintained. Grant management is also key, ensuring that funds are used correctly. These practices help build trust, maintain legal compliance, and demonstrate the organization’s commitment to its mission.

7. Taxi Accounts

Taxi accounts are tailored for drivers managing variable income and operating expenses. Proper income logging, including fares and tips, and recording costs such as fuel, maintenance, and insurance are crucial. Detailed mileage records are kept to optimize tax deductions, and self-assessment tax returns are prepared specific to industry standards. This accounting helps taxi operators track income efficiently and claim allowable expenses, ensuring smooth financial management and regulatory compliance.

8. Locum Doctors/Pharmacist/Opticians Accounts

Locum professionals who work on temporary contracts across various locations benefit from specialized accounting that handles diverse income streams and specific professional deductions. Accounting services for locums involve tracking earnings from different healthcare facilities, managing professional expenses like travel and training, and providing advice on tax-efficient pension contributions. If applicable, VAT returns and tax obligations are also managed. This helps locum professionals stay organized, compliant, and focused on their primary work while optimizing their tax benefits.

9. Umbrella Company Accounts

Umbrella company accounts serve contractors who prefer simplified administration by acting as their employer. These services manage payroll, process tax deductions, and provide payslips. They also handle the reimbursement of allowable business expenses and ensure compliance with tax laws such as IR35. This structure provides peace of mind by reducing the administrative burden on contractors, ensuring they stay compliant and focused on their core work.

Maximize Your Business Potential with Expert Accounting Services

Timely and Compliant Accounting

At AMC, we offer fully qualified and experienced accountants to ensure your annual accounts are handled with care and accuracy. Whether you're a new business or an established one, staying compliant with government regulations is crucial. Our team works to prepare your accounts in good time, ensuring they are ready for submission to HMRC and Companies House. With our sophisticated accounting technology, we guarantee your corporation tax filings are in the correct format, helping to improve your credit scoring and ensuring you're always ahead of deadlines.

Protecting You from Penalties

Mistakes in annual accounts can lead to costly penalties, sometimes totaling thousands of pounds, but we are here to eliminate that risk. We provide regular quarterly catch-ups, packed with useful advice and tax planning tips, to help you operate with maximum tax-efficiency. From claiming tax reliefs and managing expenses to handling asset disposal and pension contributions, we ensure you're not paying more tax than necessary. With us, you can trust that every detail is taken care of so you can focus on growing your business without any financial worries.

Dedicated Support and Trust

Every client benefits from a dedicated account manager and a team that provides seamless continuity of service. If you’ve struggled with poorly prepared accounts or worked with an unsatisfactory accountant, we can unpick and fix your records, getting them back on track. Our professionals work tirelessly to ensure your accounts reflect the true situation of your business, offering an important snapshot of its health. This is essential when dealing with lenders, investors, or potential partners, as they rely on accurate accounts to make informed decisions.

Efficient Service and Business Strength

We also understand the weight that managing finances can bring. That’s why we aim to take the stress off your shoulders. With AMC, you’ll experience a personal, efficient, and reliable service that truly highlights your strengths. Whether it’s staying on top of annual accounts, benefiting from useful tips, or improving your credit scoring, we’ve got you covered at every step.

Contact Information

Trust AMCs for reliable tax and accounting solutions.

Payroll

At Arette Management Consultants, we offer efficient payroll services, ensuring timely payments, salary calculations, and full regulatory compliance every pay cycle, including end-of-year returns.

Learn more

Consultancy

A qualified tax consultant offers expert consultancy for businesses and individuals, providing instant access to accounting expertise and ensuring financial clarity for better decision

Learn more

Taxation

Expert tax compliance advisers provide guidance for individuals and businesses to navigate U.K. Tax legislation, ensuring robust, effective tax planning and meeting tax obligations.

Learn more

VAT

Handling VAT is a complicated task for business owners, but AMC simplifies it. We help file and submit VAT returns to HMRC every quarter using compatible software aligned with Making Tax Digital

Learn more

Accounts

When it comes to statutory accounts, management accounts, and your business plan, working with an expert tax consultant ensures accurate financial insights, minimizing risks.

Learn more

Bookkeeping

For businesses seeking expert help, bookkeeping ensures your sales and accounts properly managed. Our tailored accounting services help you stay on top of tax returns and statutory work.

Learn more

Document Pick/Drop

We provide a reliable Document Pick and Drop Service, ensuring timely, safe delivery of your important documents with confidentiality and care, so you can focus on your work.

Learn more

We help 13,000+ UK businesses thrive with expert Account services.

What our customers are saying

If you’re looking for a trusted partner to handle your financial challenges and opportunities, I wholeheartedly recommend Arette Management Consultants. Their combination of expertise, supportive service, and proactive solutions has been indispensable to my success.

Mr. Ethan Doe

Their dedication to both business and personal financial matters makes them the best in town. They have consistently demonstrated their competence, reliability, and ability to adapt to my changing needs.

Mr. Harry

What sets them apart is their deep understanding of the legal requirements and their delivery of high-quality service. As a long-time client, I’ve found their work to be of excellent value for money, and they are fully versed in all the latest financial regulations.

Mr. William Felix

The proactive initiatives of their team ensure that every job is done right the first time. This reliability has saved me time and stress, enabling me to focus on growing my business instead of worrying about financial complications.

Mrs. Rosie

Their services extend beyond crisis management. They handle my bookkeeping, outsourcing, and VAT consultancy with exceptional precision. Their ability to complete tasks quickly and efficiently showcases their dedication to delivering outstanding results.

Mr. John

On a personal level, M. Sajjad Ahmad has been a cornerstone of my financial stability. His knowledge of accounts, both personal and professional, has provided me with tremendous confidence. He is always available by phone or email to answer my questions and ensure my finances are in order.

Mrs. Emma

Their work on reducing my late filing penalties, interest, and determinations from over 12 years of unfiled taxes was extraordinary. They approached the matter with great patience and expertise, bringing all charges down to nil. This effort saved me thousands in bills and gave me a fresh start financially.

Mr. David

One of my most challenging moments came when my business faced a large HMRC investigation. I was dealing with threats of bailiffs arriving at my premises, and even my solicitors and previous accountants had given up. Arette Management Consultants stepped in and worked tirelessly to manage the situation. Their persistence saved my business and safeguarded my interests.

Mrs. Sophia

Their ability to communicate in normal language has been a significant relief for someone like me, who is new to self-employment. They guided me through understanding claimable expenses and assisted with setting up my limited company, which could have been overwhelming without their help. Their forward-thinking approach has been nothing short of invaluable.

Mrs. Sarah

I’ve had the pleasure of working with Arette Management Consultants, and their friendly and efficient service has truly impressed me. From the very beginning, their professional and knowledgeable team provided all the necessary information and advice, making it easy to navigate complex tax issues. As a new customer, I immediately felt supported and valued, knowing they would handle my needs with care.

Mr. Talha

Frequently Asked Questions

What are annual accounts?

Annual accounts are a collection of financial reports that summarize a company's financial performance over the year. These include critical documents like the balance sheet, profit and loss statement, cash flow statement, and statements of changes in equity. They reflect your business's revenue, assets, liabilities, and expenses, giving you insight into how the business is performing financially.

Why are statutory accounts required?

Statutory accounts are legally required for UK business owners, especially for limited companies. These accounts must be prepared at the end of each financial year and submitted to Companies House and HMRC. They provide a comprehensive record of a company's financial activity over the preceding twelve months. The reports include key documents like the balance sheet, profit and loss statement, and cash flow statement, which are necessary for calculating your corporation tax.

What is included in financial statements?

Financial statements are essential for understanding the performance of a business. They include the balance sheet, profit and loss account, cash flow statement, and the director’s report. These reports track important metrics like revenue, assets, expenses, and liabilities. For a company, these statements not only provide transparency but also help in informing decisions for investors, employees, and other stakeholders.

Why are statutory accounts important for a company?

Statutory accounts provide a financial health check for your business, offering clarity on your company’s financial standing. These accounts ensure that your records are up-to-date, meeting the requirements of Companies House and HMRC. They also satisfy the legal requirement of paying corporation tax, which is calculated based on the financial activity for the year. By keeping accurate financial statements, you maintain transparency with shareholders, employees, and even the wider audience.

Why should I consider outsourcing the preparation of statutory accounts?

Outsourcing the preparation of statutory accounts to experienced accountancy firms can offer significant benefits. It saves time and cost, enabling you to focus on valuable business activities. Handling accounting internally can be expensive, and managing it in-house takes up precious time. By outsourcing, you can save money and ensure that your financial statements are prepared accurately and submitted on time. Professional industry knowledge from accountants can ensure you meet all necessary accounting standards, such as FRS 102 and FRS 105.

When is the deadline for submitting statutory accounts?

The deadline for submitting statutory accounts is typically nine months after the financial year-end. For newly registered companies, you have 21 months from the date of incorporation to submit your year-end accounts. It’s important to keep track of your accounting reference date (ARD), which dictates when your statutory accounts are due to be filed with Companies House. Missing the deadline can result in fines, depending on how long the delay lasts.

Don't wait consult with our professionals Accounts expert

While we all have a responsibility to pay taxes, they should not eat into your profits. Our professionals at Arette Management Consultants will allow you to minimize your taxes, maximize deductions and ultimately strengthen all of their financial plans.

Annual Accounts Services

for Companies, Contractors and Small Businesses

How Annual Accounts Services Simplify Business Finances

We will take care of your Annual Accounts:

1. Sole Traders Accounts

2. Partnership Accounts

3. Limited Company Accounts

4. Contractors Accounts

5. Rental Accounts

6. Charities and Trust Accounts

7. Taxi Accounts

8. Locum Doctors/Pharmacist/Opticians Accounts

9. Umbrella Company Accounts

Maximize Your Business Potential with Expert Accounting Services

Timely and Compliant Accounting

Protecting You from Penalties

Dedicated Support and Trust

Efficient Service and Business Strength

Contact Information

Trust AMCs for reliable tax and accounting solutions.

Payroll

Consultancy

Taxation

VAT

Accounts

Bookkeeping

Document Pick/Drop

We help 13,000+ UK businesses thrive with expert Account services.

What our customers are saying

Frequently Asked Questions

What are annual accounts?

Why are statutory accounts required?

What is included in financial statements?

Why are statutory accounts important for a company?

Why should I consider outsourcing the preparation of statutory accounts?

When is the deadline for submitting statutory accounts?

Don't wait consult with our professionals Accounts expert

Quick Links

Services

Our Office's