As the financial year ends, businesses must ensure their accounts are in order. Here’s a checklist to help you stay compliant and stress-free:
- Reconcile your bank accounts – Ensure all transactions match.
- Check your expenses – Make sure they are all logged and supported by receipts.
- Send invoices and chase payments – Tidy up your accounts receivable.
- Calculate depreciation – Adjust for assets.
- Review payroll records – Ensure all PAYE filings are accurate.
- Submit your final VAT return – And pay on time.
- Prepare your year-end accounts – Work with your accountant to finalise financial statements.
- Submit your Corporation Tax return – Due 12 months after year-end but better to do early.
- Archive documents – Keep everything organised and backed up for 6 years.
An accountant can walk you through this and ensure your submissions to HMRC are accurate and timely.
