Year End Accounts & Tax Returns

Whether you’re a sole trader, a partnership, or a company, you will need to produce yearend accounts and tax returns.

Year End Accounts and Tax Returns Services

Is it getting to “that time of year” again and you find the preparation of the annual accounts and tax return a big chore? You may have the skills but not the time.

Or are you a new business owner and not really sure how to do your yearend accounts and complete a tax return? Not to worry, Artisan Accountant can guide you through the entire process.

Self-Assessment Tax Return

It is possible to do your own tax return through the Revenue Online System (ROS). You will need to register and then work through the Form 11, populating all the required fields . However, it is very easy to overlook reliefs or credits that you may be due. This could, in the end, cost you more than an accountant’s fee.

You will be required to complete the section on extracts from your accounts. If you are not familiar with doing accounts, including the P&L and Balance Sheet, this may prove difficult.

At Artisan Accountant we can help you in these areas. We can do the self-assessment for you. Alternatively, some clients like to do the assessment themselves but will have a few specific questions. We are happy to help in this way too. 

Limited Company Year End Requirements

  • Complete the year end accounts including the trading profit (or loss) and balance sheet
  • File the corporation tax return (CT1) and pay any tax due in the 9th month after the year end
  • Produce company financial statements for filing at Companies Registration Office (CRO)
  • Prepare and file the annual return (Form B1) with the CRO

Proprietary Director Tax Return

The tax return commitments and other compliance requirements for a limited company can be quite onerous. As a director owning more than 15% of the shares of a limited company you will be required to submit a Form 11 tax return. Ensure it is filed on time as a late penalty of 5% will be applied even though all income taxes have been paid through PAYE.

Support

We will assist with completing the yearend accounts and tax returns and, also, meet with you to run through the accounts. This gives you an opportunity to ask questions and to make sure you understand the figures. Most importantly, we will assist with minimising your tax liability.