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bigduckontax
bigduckontax, Accountant
Category: Tax
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Experience:  FCCA FCMA CGMA ACIS
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Company Accounts & Annual Return I have a company that owns

Customer Question

Company Accounts & Annual Return

I have a company that owns one property and am looking for someone to submit the annual accounts and return either on my behalf or with clear instructions as to how I can do it.

I currently use Grant Thornton and am happy to continue using them for profitable ventures, however this particular venture is not profitable. I understand that all companies have compliance issues etc and so would look to a professional who would be willing to do this either as a named independent (ie. An agent) or would provide me with clear instructions on the submittal process and all of the necessary paperwork.

In the past 12 months the company has only had eight transactions.
I have last years accounts available.
I am willing to pay a fee in addition to the initial just answer fee if there is any interest.
The deadline for submitting these accounts is 31 May 2014.

Closing the company is an option that I have explored but at this time is not feasible. The company owns one property, which I have struggled to sell. Fortunately I am not desperate for the money and will therefore keep the company ticking along in the meantime.
If anymore information is required please do let me know.
Kind regards,
SR
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Hello SR, I'm Keith and happy to help you with your question.

You have last year's accounts, so set up T accounts* on the back of an envelope and enter the balances thereon in the appropriate T account.

Enter the 8 transactions; eg for rent received debit cash/bank credit rent. For say repairs debit repairs credit cash/bank and so on. Calculate new totals. Income less expenditure is the Profit and Loss Account. With only 8 transactions a Balance Sheet should fall out quickly. You can now use HMRC's own in house system to file your Corporation Tax Return on line and an option to send Modified Accounts to Companies House is available as part of the on line taxation filing process.

Am I helping? The on line filing will take you longer than your back of the envelope accounting!

* A T account is just a big letter 'T;' you put debit entries on the left side and credit entries on the right.
Customer: replied 2 years ago.


Is this something you can do for me if I provide the transaction amounts and get set up online with HMRC/Companies House? I will happily pay an agreed fee. I simply don't have the time or desire to complete. Many thanks,


 


Sharna

Expert:  bigduckontax replied 2 years ago.
Sharna

I would be delighted to accept your offer for a modest fee, but unfortunately Just Answer rules preclude me from so doing. That is why I gave you a quick do-it-yourself answer.

Keith
Customer: replied 2 years ago.


Keith,


 


I really do appreciate your help.


 


Thank you.


 


Sharna

Expert:  bigduckontax replied 2 years ago.
Delighted to be of assistance. Please be so kind as to give me a rating.

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