DIYaccounts Limited Company Form and Format

[stingray]

Ok,

Firstly let me say i don't want an accountant, i want to do it myself i like doing things myself simple as makes it so much easier to be in control (call me a control freak if you like)

I have a few questions and need some advice.
I have all my financial information from my business the last year!
Income (cash and invoiced)
Costs
PAYE detials
Petty cash.

All legal requirements are covered, now, i need to know how to prepare this for submitting to HMCR as its raw ie not sorted into categories which i can do its basic legally required information.

I've never filled one of these before but think i can easy do it i have been doing my familys accounts (self employed) and small sole traders partnerships and assisitng in returns for years the bit i dont understand is whats diffrent for a Limited company.

'm looking for good straight to the point advice, links books, ebooks, etc.


Thanks
Stingray

 

[Kent Accountant]

What a waste of all that training and CPD we've had to go through

Main link would be to Companies Act 1985, but I haven't found anywhere that that is available on the web. Statutory Instrument 2004 No. 16 can be found at http://www.opsi.gov.uk/si/si2004/20040016.htm . If you decide to adopt the FRSSE, you can get the details at http://www.frc.org.uk/asb/technical/frsse.cfm . Don't forget that if you decide to lodge abbreviated accounts at Companies House, you still have to file full statutory accounts with HMRC with your CT600.

Companies House has some information on Accounts available at http://www.companieshouse.gov.uk//about/gbhtml/gba3.shtml but if I were you I would ignore the introduction as it implies that their "booklet cannot tell you how to prepare company accounts - your accountant has specialist knowledge of this."

Good luck - now why did I buy all that specialist statutory accounts software? :|

 

[Gillie]

Poor Bob!! Do you get the feeling though that eventually Stingray will find that Accountant when he discovers he has paid too much tax or not claimed for the right things ... that mean even after paying his Accountant, he would be in pocket!

Ah well!!

 

[The Bookkeeper]

It's often easier to get help than to go it alone. Apart from the professional advice you will receive, it will leave you more time to manage your business.

 

[Kent Accountant]

Poor Bob!! Do you get the feeling though that eventually Stingray will find that Accountant when he discovers he has paid too much tax or not claimed for the right things ... that mean even after paying his Accountant, he would be in pocket!

Ah well!!

I'd already lost the will to live this afternoon as the office isn't air-conditioned

That query at least allowed me to leave the office happy, feeling that I had assisted a startup business sort out their affairs

 

[bwglaw]

Is there not an increased chance that HMRC will come back to haunt you if you do the accounts yourself, as opposed to using an Accountant?

I wonder....


Jonathan

 

[Alpha]

So your small plumbing and central heating business has grown a lot in the year since you last posted.

Well as you are so keen to do things yourself I would suggest you enrol on a course on how to produce accounts for limited companies and also one on basic corporation tax.

I would also be interested in seeing your capital allowance computations for the sole traders and partnerships that you have done.

And also see how you converted your sole trader/partnership to a limited company.

 

[KM-Tiger]

........ i want to do it myself i like doing things myself simple as makes it so much easier to be in control

If you don't believe the accountants here believe me: you are 100% wrong.

You need to be in control of your business, not in control of producing accounts.

Add to that the fact that you will probably pay too much tax if you go it alone. Only fools pay too much tax.

 

[dcaccounting]

I love these type of questions.

I'm just off to rebuild the engine in my car!!!! Be back in 5.

Regards

Dean

 

[Gillie]

I love these type of questions.

I'm just off to rebuild the engine in my car!!!! Be back in 5.

Regards

Dean

Finished it yet Dean??

 

[Rob Holmes]

Firstly let me say i don't want an accountant, i want to do it myself i like doing things myself simple as makes it so much easier to be in control (call me a control freak if you like)

Why not just be in control of your accountant ?



Rob

 

[dcaccounting]

Finished it yet Dean??

Yeah, it seems to be coming along quite nicely, although i'm left with four circular thingy's connected to four rods...

Engine is now back in the car. I have been told the above parts are "piston's and con-rod's," ah well i'll start her up and see how she goes.

If it blows up it's only cost me £1500, at which point i'll contact the garage, pay their labour costs... not to mention another engine!

Regards

Dean