GMS BUSINESS ACCOUNTANTS LTD

All business have to file annual accounts with companies house, and tax returns with HRMC.

Annual accounts show the performance of the business for that financial year, and can compare this performance to the previous financial year. They can use used for credit checks, or when applying for loans. It's important they are accurate and represent what has happened through the financial year.

The tax return will tell you how much profit is liable for tax, and how much tax you need to pay to HMRC. There are a number of factors which can influence this such as capital allowances.

GMS Accountants can produce and file both company accounts and tax returns on your behalf, please get in touch to see how we can support you.

All Sole Traders will need to file annual tax returns with HRMC. The financial year begins on the 6th April, and finishes the following year on the 5th April. The deadline for filing and paying your tax return is the 31st January, for all online submissions.

Part of the tax return process will be looking at the performance of the business by creating a profit and loss report, this profit and loss report will then be used to create your tax return.

The tax return will tell you how much profit is liable for tax, and how much tax you need to pay to HMRC. There are a number of factors which can influence this such as capital allowances.

GMS Accountants can produce and file your tax return on your behalf, please get in touch to see how we can support you.

Our VAT service ensures your business remains fully compliant with HMRC requirements. We guide you through registration, advise on suitable accounting schemes, and support accurate digital return submissions. By selecting the correct scheme, you can retain more cash and avoid unnecessary penalties. We provide clear, professional advice to simplify VAT obligations and protect your business interests.

Our Personal Tax service ensures that all self-assessment tax returns are prepared and submitted accurately to HMRC. We handle returns for self-employed individuals, business partners, company directors, and those with additional income sources such as property rental, savings, dividends, or foreign earnings. By providing your income records, previous tax payments, and allowable expenses, we help prevent overpayment. Filing promptly after the 6th of April allows sufficient time to manage any tax liabilities efficiently, offering peace of mind throughout the process.

Our payroll service ensures every employee receives accurate and timely payments while remaining fully compliant with HMRC regulations. We manage PAYE and National Insurance deductions, handle pension auto-enrolment, and submit Real Time Information promptly. By entrusting us with these responsibilities, you can avoid costly errors, reduce administrative burden, and focus on growing your business with confidence.

We provide professional assistance with company formation, guiding you through every step required to register your business with Companies House. From selecting a distinctive company name to preparing the Memorandum and Articles of Association, we ensure all legal obligations are met. Our expertise helps set up your company correctly from the outset, including registration, director appointments, and online filing.