Annual Accounts & Corporation Tax Returns

Annual Accounts & Corporation Tax ReturnEvery end of the fiscal year, corporations have to summarize their financial accomplishments in the form of statutory accounts (P&L, balance sheet, and cash flow statement), which are prerequisites for filing the annual accounts and corporation tax returns and are submitted to the HMRC, Companies House, and shareholders.

The profit and loss statement (P&L) displays the net income of an organization and the total cost over the fiscal year, recorded by the time the transaction is made. P&L summarizes all the expenses and earnings every year. On it depends whether a corporation has the potential to reduce its expenses or increase its income.

A balance sheet reflects the organization’s fiscal elements (shareholder equity, liabilities, and assets) merely for a certain period, showing how the organization makes use of its resources. It’s also the basis for calculating the tax return rate and assessing the organization’s capital structure.

Cash flow statement shows how much money has come in and gone out of an organization over the course of a year and is recorded right at the time the money is procured or used.

how it works

how it works

Why Hire Us?

Filing for annual accounts and corporation tax returns has to be done every year, but the process can be much of a hassle, although not that daunting for smaller businesses. Usually, smaller corporations are only obliged to submit simpler annual accounts. Larger businesses would have to deal with creating more complex ones.

While there is a lot of accounting software to help you prepare for your corporation tax return, Legend Financial can do it more accurately and streamlined. You can rely on Legend Financial to help you with preparing your statutory accounts and guide you throughout the process.

GET A QUOTE

Whether your business is large or small, financial experts can help expedite the making of your statutory accounts, all with accuracy and efficiency. Talk to one of our consultants today to learn the price for this service.

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