One of the most popular queries we get towards the end of the year is what information does the client need to hand over to their accountant at the end of the year?
Whether you are a sole trader or a limited company, you will need to complete a self-assessment Tax Return and submit the form and pay the bill to the HMRC by the end of January 2024. If you work alongside an accounting firm to guide you through these finances, there will be a list of documents that you will need to submit in order to submit your tax return and other documents correctly and on time to HMRC.
Let’s take a look at some of the different documentations and information you will need to submit to your accountant by the end of the year:
- Bank Statements of your business accounts with incomes and outgoings
- Cheque books if you still use them for your business
- Cash records if you accept/use cash for your business
- Payroll records
- Sales income records
- Receipts and quotes of purchases
- Documents and statements if you had to request a loan
- Stock value
- Other financial agreements and payments
There are many more things that you can add to this list, but this will heavily depend on what you spend and need to run your business.
If you have been super organised throughout the year and have everything ready to present to your accountant, great! This will help you and your accountant process and submit your tax return and other documents to the HMRC quickly and smoothly so you can continue with the rest of your work commitments for the end of the year.
There are also personal documents that you must consider preparing too. For example, P45, P60, P11d, and any other documents about your capital gains and pension income is also majorly important to factor in with your accounting needs. This way you are legally reporting everything, and your tax return will be accepted in no time!
Here at MCC Accountants, we are proud to offer some of the best accounting services in the UK. When it comes to the end of the year, we understand it can be an incredibly stressful time in work and outside of work and that is why we are here to take all that financial pressure off your hands and work our magic to ensure that your taxes and any legal documents are properly checked through and submitted on time.
We have a team of excellent accountants who can provide a phenomenal service that you will not find anywhere else! We offer our accounting services across the North West and have rapidly become one of the leading accountancy practices.
Our current and past clients have left some fabulous feedback which is available to view on our website along with a little introduction about MCC Accountants if you would like to get to know us a little bit better.
For more information about our accounting services in Manchester, give us a call today.