“A culture of discipline is not a principle of business; it is a principle of greatness,”
Jim Collins, author of Good To Great.
Statutory duties and deadlines
Regardless of the size and structure of your business, there are a number of compliance issues that you will need to deal with. Sole traders and partnerships only need to prepare annual accounts and tax returns, but companies are obliged to prepare their annual accounts in a specified format and file annual returns and other forms with Companies House, as well as a corporation tax return with The Inland Revenue.
LLPS also have various filing obligations. All these documents must be filed by certain deadlines if the company wishes to avoid incurring penalties.
At A-spire Business Partners we will work with you to ensure that your accounts are presented in a format that complies with the Companies Acts and Generally Accepted Accounting Principles, and will help to ensure that you meet the numerous filing deadlines.
We will also assist you to keep the company’s statutory records in order and to submit statutory declarations and forms.
“Goals are dreams with deadlines,” Diana Scharf Hunt.
Larger companies, with two out of three of the following: turnover in excess of £6.5m, gross assets of £3.26m and 50 or more employees, are required under the Companies Acts to have an audit.
These limits are set to change from January 2016 to turnover of £10.2m,and balance sheet gross assets of £5.1m. The number of employees remains unchanged. There are, however, other circumstances under which it may be advisable for a company to have its accounts audited, such as where the day-to-day management of the company is not in the hands of its shareholders, or where a bank has requested it.
If you would like further information or for your free initial consultation, call us on 0208 864 9626 or send an email enquiry to .