Keep your company finances in order
Starting and growing a business is great, fun, hard, exciting and very rewarding. Very quickly it is common to feel like you have more to do than is humanly possible and you start to pick the bits that you like or than matter – like sales, making the products or servicing the customers. It’s not very often that your bookkeeping or accounting makes that go to list!
A ltd company’s finances need to be recorded, all of them. Any movement of money whether in or out needs to be kept on record. This records turn into accounts to be submitted every 12 months to HMRC and Companies House, by law. You will be fined if not, company struck off or worse still disqualified from being a Director. So there’s no getting away from it.
You have a few options, do it all yourself, it’s no legal requirement to have an accountant for a uk ltd company. There is accounting software out there you can use to keep the records and some help you with reminders and prompts to help you not miss filing deadlines. You can hire a bookkeeper to keep records up to date, then find an accountant to create and file accounts for you at the end of the year. Or you just pass it all to an accountant. The options vary in cost.
We can help you find an accountant, just opt for it as you go through the ordering process for a new company or just ask.