EOY accts due

[Sam Sung]

Hi all,

Got the deadline coming up COB next week for last years shenanigans and basically...have done no bookkeeping at all!

Luckily I'm now benched and have nothing else pressing so I can invest a few days into getting this all sorted and compliant. Quite I didn't crack the VAT rate have allowed a flat 23% put away when it's time to cough up but obviously, would like to minimise that (which I imagine does NOT mean I only pay 10% ) . Can anyone recommend the best software to get this done quickly? I know there's a few like zedAccounts, SJD SPreadsheets etc.

Cheers,

Sam

[BrilloPad]

What did you put on your VAT returns? Were you not on the flat rate scheme?

[Sam Sung]

What did you put on your VAT returns? Were you not on the flat rate scheme?

Nothing, didn't register. Didn't make enough to hit the threshold.

[northernladuk]

Sounds more like you need an accountant than a piece of software.

It's not expensive to get one and many come with their own spreadsheets and portals etc. I was using the SJD Spreadsheet (which I believe you can download for free from their site but it's quite heavily locked down in some areas) and thought it was great but I switched to an accountant using Freeagent and it's excellent stuff. That said no amount of money spent on portals or accountants is going to help if you CBA to carry out your legal obligations that come with running a LTD.

[Kenny@MyAccountantFriend]

I'm guessing based on the above not VAT registered.

An online system such as freeagent would be useful as you can import the bank statements saving you some time if you want to do it all yourself.

Just out of interest how do you plan to submit the accounts as well?

May be worth appointing an accountant who could help with the software and submissions for you.

[BrilloPad]

Nothing, didn't register. Didn't make enough to hit the threshold.

So you weren't charging VAT on your invoices? So where does VAT come into it? Are you talking about the amount you will pay in corporation tax?

[Sam Sung]

Sounds more like you need an accountant than a piece of software.

It's not expensive to get one and many come with their own spreadsheets and portals etc. I was using the SJD Spreadsheet (which I believe you can download for free from their site but it's quite heavily locked down in some areas) and thought it was great but I switched to an accountant using Freeagent and it's excellent stuff. For around 80 quid inc Freeagent access it's an absolute no brainer. You also have an accountant on hand to help you through the mire.

That said no amount of money spent on portals or accountants is going to help if you CBA to carry out your legal obligations that come with running a LTD.

Can I presume that's a largely DIY service that basically handholds you as you prep your own statements but you have an actual Acct to fire questions off of for the trickiest parts?

CBA ??

[BrilloPad]

Can I presume that's a largely DIY service that basically handholds you as you prep your own statements but you have an actual Acct to fire questions off of for the trickiest parts?

CBA ??

At a guess, Can't Be 4rsed?

AYCOTBAC?

(Are you cut out to be a contractor)

[DaveB]

Hi all,

Got the deadline coming up COB next week for last years shenanigans and basically...have done no bookkeeping at all!

Luckily I'm now benched and have nothing else pressing so I can invest a few days into getting this all sorted and compliant. Quite I didn't crack the VAT rate have allowed a flat 23% put away when it's time to cough up but obviously, would like to minimise that (which I imagine does NOT mean I only pay 10% ) . Can anyone recommend the best software to get this done quickly? I know there's a few like zedAccounts, SJD SPreadsheets etc.

Cheers,

Sam

Are you taking about your Accounts, which have to go to companies house, or about your Corporation Tax Return, which goes to HMRC?

Software won't help you make sure you allow for everything. If you've never done it before then I strongly suggest you get an accountant on board to do it for you this time and make sure it's done right. You might think you are saving a few quid, but the forms are not intuitive to complete, with to without software to help, and mistakes will cost you in the long run. Especially if you underpay your Corporation Tax as a result.

[TheCyclingProgrammer]

I don't understand...you didn't register for VAT but you've been putting 23% of your turnover aside anyway just in case? What for?