Ok.......I don't have the necessary software to prepare stats and corp tax comp, so will have to use the online filing to submit accounts/tax comp to HMRC and accounts to Co House.
It looks fairly intuitive but am not sure. The first thing I have noticed is that there is a choice of reporting standards used.......I didn't knowingly use FRSSE, so I assume I will not select that checkbox. The notes selection page is something else I am concerned about.....unless they are already set out in prescribed format?
Not sure either about filing abbreviated accounts (or not) to Co House. What are the pros/cons here?
They are small company accounts and fairly straight forward, so I am hoping that the online filing is user friendly.
I hope you have all had a good Christmas and hope some of you have recovered enough to help by sharing your experience/tips on this query.
not sure what you mean about not being sure whether to file abrebiated accounts? The filing is not optional, only the level of detail is.
The bit thats optional is whether you file abreviated or full accounts with companies house (HMRC want the full ones but thats between you and HMRC, what you file with CH goes into the public domain).
Most small companies file abreviated accounts because you don't want anyone else knowing your business so you don't file the P&L or detailed breakdown in the standard accounts.
It still however requires the balance sheet with the main notes.
You will probably want to indicate that you have used the FRSSE as the reporting requirements are much simpler than for the full standards.
Personally, no matter how simple the accounts I would not like to take on the responsibility of filing accounts and corporation tax calculations if I did not have software that was up to the job.
If you wish to continue offering that service you might want to think about looking around the market at the best options for your requirements.
I use VT Accounts for the accounts, corporation tax calculation and iXBRL conversion, but that still requires quite a bit of manual intervention in the actual filing. I think with some other software you can file from within the software although I'll let others who use such software sing the praises of such features.
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.
Sharon - Thanks.....hence having to use the HMRC online filing service.
Shamus - Yes absolutely right, I will have to look around at software as I will probably have more Ltd Co. accounts to look after in the future. This one has just crept up on me and I don't have much time to complete. I understand that there is a choice to file abbreviated accounts and that filing is mandatory......I think you have explained the pro's/con's however. When you mention not taking on the responsibility without having the s/w that is up to the job, I do have Sage accounts and am happy with the format of the accounts and how to calculate the tax comp on paper. I just wondered if anyone had experience of the HMRC filing service and how much in the way of notes is set out on the 'template'. As I mentioned, it looks intuitive......I just put out a query just in case it wasn't so!
I have filed for my own limited company through the HMRC website with no problems. If you have your printed Sage accounts sitting in front of you while you do it you shouldn't have any problems at all.
One thing I noticed is that there is a tax field in the P&L.....I was hoping to run the tax comp to obtain the exact figure first, but I suppose I could go back to this page?
