Accounts and Corporation Tax
What to have ready, and what happens at each step. Guided and Managed follow the same steps.
Step 1
Does your company qualify?
All of these must be true
You are a director of the company.
Your company is a UK private limited company.
The company's details are up to date.
Your company must meet any two of these limits:
Turnover of £1 million or less
Balance sheet total of £500,000 or less
10 employees or fewer
Step 2
Are your books ready?
Check what applies to your company.
Every bank, card and loan balance matches its statement.
All sales, costs and cash movements are recorded.
What customers owe you, and what you owe, is recorded.
VAT, payroll and director balances match your records.
Assets, stock and year-end adjustments have been checked.
What we check
Your trial balance balances.
Each balance-sheet figure has supporting records.
Opening balances agree with last year's accounts.
Also have to hand
Last year's accounts and tax return
A list of the company's equipment
Statements for any company loans
Keep the company's receipts and invoices for at least six years from the end of the accounting period they relate to.
Not quite ready? You can still start.
We'll help you identify what is missing before we prepare the filing.
Join our waitlist
Step 3
How we improve your filing
We check every transaction in the records you provide.
We flag anything missing or recorded in the wrong place.
We explain the fix and make it only after you approve.
We help you optimise your tax position.
That means making sure everything is recorded correctly. And every relief and allowance the company is entitled to is claimed.
Three example questions, each with answers you can choose. One confirms the company's accounts. One asks why the company paid you. One asks about costs you paid yourself. The amount is hidden. Step 4
Review, approve, submit
We prepare the draft documents.
You review them and sign them off.
We submit them for you.
You track their status and submission references in your account.
Example of the approval step. The latest version of two documents awaits the director's approval. One is the annual accounts, to go to Companies House. They are the profit and loss account, the balance sheet and the notes. The other is the Corporation Tax return, to go to HMRC. It comes with its tax calculation. With them are the summary figures and the tax due. Their amounts are hidden. After them is the declaration. Then comes the choice to approve or to request changes. Step 5
If something goes wrong
Companies House or HMRC may reject a submission. If so, we help you put it right.
If you or we find an error after filing, we can amend it. We prepare and file amended accounts or an amended tax return.
HMRC usually accepts an amended Corporation Tax return up to 12 months after the filing deadline.
Accurate preparation, backed by our guarantee.
If we make a preparation or submission error, we'll correct it.
We'll resubmit your approved filing at no extra service charge.
What the guarantee does not cover
The guarantee does not cover incorrect or withheld customer information, changes the customer did not authorise, tax, interest, consequential loss, authority delay or matters outside the purchased service. If our delay makes your filing late, we pay the late-filing penalty Companies House or HMRC charges for it. That applies when you sent us complete records at least 3 working days before your deadline, and approved the documents within 1 working day of receiving them. We don't pay tax or interest, or penalties caused by anything other than our own delay or error.
Behind on your books?
Bookkeeping remains your responsibility.
Finish it yourself or use a bookkeeper.
Connect every account, or download a year of statements.
Categorise each transaction, largest first.
Match sales and bills to payments.
Record each director payment for what it was.
Check year-end balances against the bank.
Not quite finished?
We don't keep your books, but we'll help you finish them.
Something may be missing, or recorded wrongly or not in the best way. If so, we'll raise it in our questions. We'll show you the fix and why.
Nothing changes until you approve it.
VAT
Keep filing VAT returns through your bookkeeping software.
We'll compare your VAT balance with the returns you filed.
If they do not match, we'll tell you before filing.
Ready to get it sorted?
TaxPost is not open yet. Join the waitlist to hear when you can start.
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