The early bird catches the worm

Published: 18/02/2019 By Laura Lanaway

Getting your books and records in early

Every limited company must file a set of accounts with Companies House each year. To enable your accountant to do this by your specified deadline, books and records must be received in good time.

Leaving it until the week before your filing date will cause you extra stress, worry and even more hard work. It will also bring the risk of your accounts being filed late which in turn brings with it a fine.

Your accountant will be dealing with numerous clients who also have the same filing date as you. Getting your books in to them in plenty of time will mean they have more time to allocate to you and will help to ensure that your accounts are filed by the deadline date – therefore no filing penalty!

The earlier your books are given in, the earlier your accounts are prepared.

Thus meaning you are given more notice of any corporation tax you have to pay, allowing more time to be able to pay it.