The year end for your business is also called your accounting reference date - it's the same thing! It's the date up to which your accounts are prepared and is generally the end of a calendar month although it can be any date. For example 31st December or 31st March. Depending on your business type the year end can be set by you or it could have been already … [Read more...]
Planning for a Mortgage when Self Employed
Securing a mortgage can be hard enough at the best of times. Couple that with being self employed and the whole process could turn into a bit of a nightmare unless you’re well prepared. We regularly help clients with providing an accountant’s reference which most lenders will require if you are self employed. This usually shows the last two or three years financial data, … [Read more...]
Simple guide to closing a company
Many people set up a limited company with very high hopes of business success. Unfortunately such success is not guaranteed and can elude some, resulting in the need to close the company. If your company is no longer needed, has no debts and has stopped trading then closing the business should be easy and straight forward. In these circumstances the closure of … [Read more...]
What is a dormant company?
I regularly see the term dormant company used incorrectly. Things like: “Can I declare my company dormant?” “I have a few transactions but want to file dormant accounts” Unfortunately the term “dormant” is often misused and perhaps misunderstood. So what is a dormant company? The definition of importance is the Companies House one: A company is dormant if it has had no … [Read more...]