Would it be possible for a bookkeeper to finalise a set of accounts for a small company, that doesnt need to have an audit and had made a loss - therefore not corporation tax to computate.
Anyone can prepare and finalise a ltd company set of accounts. Provided they know what they are doing.
A company tax return will still need to be submitted in IXBRL format regardless of the fact that it makes a loss and doesnt have any corporation tax to pay. May be a benefit in carrying the loss back a year and getting a CT refund if the company paid CT last year.
In the case of a bookkeeper will depend if your professional body restricts you or not from preparing and submitting the accounts.
Thank you for the response this is the first year of trading and therefore may be able to carry the loss forward, in terms of professional body I am part qualified for ACCA therefore not a member yet, is there a way round this for my client, there is no budget for an accountant to it this year.
Can I download an IXBRL sorry may seem like a silly question but I not actually submitted a corporation tax form before.
If you are PQ ACCA then regulation 8 means that you cannot prepare financial statements unless under the direct supervision of a suitably qualified accountant so even if you do it either yourself or the client is going to have to pay for an qualified accountant (ACCA, ICAEW or similar) to approve your work... Which of course you need in order to get your signed off PER in order to get your letters.
In fact, regulation 8 states that all that we are allowed to do without supervision is bookkeeping up to trial balance, VAT and Payroll.
Complete nightmare I know. Just do a search around the site for regulation 8 (or indeed the word draconian) and you will see what I mean.
Sorry for the negative reply,
kind regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
