F. A. Q.

F. A. Q.

Which accounts programme should I use.

Sage, Zero……?

What is a government tax portal.

The portal is where you sign into or set up a personal tax account to check and manage HMRC records, including Income Tax, change of address, Self Assessment and company car tax.

What is self assessment tax.

Self Assessment is a system HM Revenue and Customs ( HMRC ) uses to collect Income Tax. Tax is usually deducted automatically from wages and pensions.

What to take to your first meeting with an accountant.

  1. Bank Statements. …
  2. Loan Statements. …
  3. Credit Card Statements. …
  4. Financial Agreements. …
  5. Payroll Records. …
  6. Your Income. …
  7. Invoices and Expenses Receipts. …
  8. Employment Income.

What information does my accountant need at year-end.

  • petty cash records
  • bank statements for your business accounts
  • cheque books (if you’re still writing cheques!)
  • stock value
  • purchase invoices and receipts
  • sales income records
  • payroll records
  • credit card statements
  • finance agreements
  • loan statements
  • any other expenditure that wasn’t paid directly through the business
  • assets and equipment purchased during the year
  • assets that were sold, scrapped or disposed of during the year
  • copies of VAT returns submitted during the year
  • mileage records
  • dividends paid to the shareholders or drawings paid

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