Guide section 01
Know the separate deadlines
A private limited company generally files annual accounts nine months after its financial year end. Corporation Tax payment is normally due nine months and one day after its tax accounting period ends, while the Company Tax Return is usually due within 12 months. First accounts have different timing. Put the exact dates for your company into one calendar, rather than assuming all filings share a deadline.
Guide section 02
Reconcile the bank and payment accounts
Start with every business bank account, credit card, payment processor and cash account used during the period. Match statements to bookkeeping records, identify duplicates and investigate unreconciled items. A year-end accounts review becomes much more reliable when the underlying balances can be traced to statements and supporting documents.
Guide section 03
Collect income and purchase evidence
Bring together sales invoices, supplier bills, credit notes and receipts. Note any transactions near the year end that may belong in a different period. If the business sells through a marketplace or payment provider, reconcile gross sales, fees and payouts rather than treating a net bank deposit as the whole sale.
Guide section 04
Review payroll, directors and assets
Gather payroll summaries, pension contributions and relevant benefit records. Check director loan movements, reimbursements and any large purchases of equipment or vehicles. These items can affect the final accounts and tax treatment, and missing explanations often cause delays when the accounts are prepared.
Guide section 05
Connect VAT and Corporation Tax work
A VAT return and a Company Tax Return are different obligations, but their records should agree with the underlying bookkeeping. Review submitted VAT figures, company profit calculations and any adjustments requiring explanation. This is also a useful point to ask whether the accounts show a clear view of cash flow and performance.
Guide section 06
Resolve open questions early
Do not wait until a filing date to ask about an unclear payment, missing invoice or unexplained transfer. Make a short list of outstanding items and assign each an owner. Early review gives time to correct records, understand the results and consider tax payment planning before the deadline arrives.