Monthly Bookkeeping, Accounting and Year End Reporting

We offer a complete accounting service that begins with a really low cost solution for small family businesses that includes quarterly bookkeeping and year end accounts preparation all the way through to the filing of online financial statements with Companies House and the CT600 corporation tax returns to the HMRC.

In the last few years we have seen a very significant simplification of the standards small businesses must achieve in their annual results reporting. The online filing systems developed by the HMRC and Companies House have effectively redefined the way we all now need to work.

The simplification has reduced the time we must spend as accountants preparing year end statutory financial statements, a benefit to which has resulted in cost savings for us all.

On the other hand, the HMRC is making far better use of information technology to collect in data to better detect tax reporting anomalies and even tax evasion. If your reported results step outside the expected normal parameters for your industry sector,  HMRC are likely to open a discovery enquiry to find out why.

We believe the next decade is going to see a very dramatic increase in the emphasis the HMRC place on making sure all small businesses improve their tax compliance reporting at the book-keeping level.

It is both unreasonable and wholly unrealistic to expect small business owners to have the requisite tax compliance knowledge to meet the HMRC drive for better tax compliance. Even if you have the knowledge, are you prepared to spend more time bookkeeping rather than running your business?

For this reason, Tax Data Ltd has been adapting the way it operates so that we can offer a much more efficient and sophisticated bookkeeping service. We have developed and refined a method of working with our clients that:

  • Delivers a very high standard of clear, understandable bookkeeping records;
  • Helps you avoid accidentally falling foul of the finer details of tax regulation;
  • Minimises the amount of time you spend on mundane record keeping so you can concentrate on what matters, running your business at the sharp-end; and
  • Provides an affordable service you will be pleased to pay for.

The two most popular software packages we use are QuickBooks Online (QBO) and VT.

Published 13 September 2017.

Updated 15 October 2017.