For the last 15 years I've been an independent consultant/interim. I've used my own Ltd company to trade through. For 14 years the business ran at a healthy turnover/profit and my accountant dealt with the accounts and all submissions to HMRC.
Last year I started to put my efforts into something else and this original business has only traded a small amount (about £4k of income across 3 or 4 invoices), plus it had a CT rebate for the previous year of about £6k, and started with a cash balance of c £5k. I've lived off the cash in it for most of the year and the balance is now £500.
My accountant is still expecting his full fee to do the accounts (about £1400) - & I'm not prepared to pay that for what will take him ten minutes!! (the data for all of the above is all in really good shape, all in a spreadsheet and all the records are clean - there are no liabilities in the business whatsoever).
My question is - what's the best way to get a set of accounts together and submitted to HMRC for less than £500 (the cash balance)? Can I do this myself? If so, what's the best way? I don't want to subscribe to Xero or anything as I only have the one set of accounts to generate - the business is now dormant, I just want to cover off this years position with HMRC and then it will be left "on the shelf" for the foreseeable.....
Any help much appreciated
Xero free trial / Get it done in a weekend for free.
Or
Try asking this co if they do it for you as a one off: https://www.mazumamoney.co.uk. I’ve used them for similar in the past. Pricing seemed very reasonable in comparison to London based co’s.
Oooh, never thought of using a trial on Xero - I'll investigate - sounds like a good idea!! - I'll investigate - thanks!
You can actually file it yourself on line. If you've not traded much, then you'll just have to file the basics. All depends upon previous turn over and if you fall into Micro company and aren't required to submit audited accounts.
I've helped my son out - he's started his own photography business - not much trade as it's something for the future, but he still has to file accounts, but they are not 'audited'.
I can help you out, I’ll defiantely be a lot less than £1,400 😳 I can certainly do it for less than £500.
I’m an accountant by the way.