Year-end accounts are crucial for self-employed business owners and partnerships as they form the basis of their self-assessment tax returns. The accounts provide valuable information about the business’s performance, highlighting any anomalies that require investigation and enabling better decision-making in the future. Banks often require a set of accounts for self-employed applicants looking to raise finance or apply for a mortgage.
Business owners can choose any year-end they prefer, such as a calendar year or the tax year, but it’s essential to prepare accounts well ahead of the 31st January deadline for self-assessment tax returns. It’s crucial to give yourself as much time as possible to prepare accounts to avoid errors and consider tax planning opportunities.
PBAS can prepare accounts from any bookkeeping records, offering advice on how to strengthen record-keeping procedures. Our accountants adhere to accounting standards and ensure that clients claim everything they are entitled to. By letting PBAS prepare year-end accounts, business owners can focus on running their businesses, relieving them of a stressful and time-consuming exercise. Our accountants offer competitive pricing with flexible appointment times and professional, friendly service. For assistance with year-end accounts, contact PBAS on 07548 281 129 or via the online enquiry form.