what accountant needs for tax returnWith all the hustle and bustle of running a business, it’s easy to forget about your accounts. That is until when the tax man comes knocking…

Filing your tax return can be extremely stressful. Having to gather the last years’ worth of invoices, bank statements, and expenses is no simple task, especially if you’ve not been keeping on top of it for the last 12 months.

If you’re filing your tax return the old-fashioned way, you’ll have to keep reading. If, however, you’re looking for a more modern and less stressful method of filing your accounts, you should look into cloud-based accounting software!

Our cloud-based accounting software allows you to update your tax records anytime, anywhere. Through your smartphone or tablet, you can upload the necessary information that both you and your online accountant will need for your tax returns. This means you can keep on top of your records all year around without having to wait for your accountant to be available. When April comes, you’ll be steaming ahead with your business while everyone else is panicking about their taxes.

What Accountants Need for a Tax Return

If you’re adamant on using the old-fashioned way of accounting, this tick list includes everything your accountant will need:

  • Your cash book
  • Petty cash records
  • Sales and purchase day books
  • Company bank statements
  • Sales invoices
  • Purchase invoices
  • Cheque books and any paying-in stubs ( if you still use cheques that is)
  • Payroll records, including any PAYE information
  • Copies of any loan agreements
  • Details of any business expense or sale that didn’t go through the bank account

There is certainly more that you can send your accountant. The general rule is if in doubt, send it anyway. If your accountant doesn’t need it then they won’t use it.

You can either send over all these documents and spend hours, possibly days, of your time working through your finances. OR you could sign up for online accounting. It’s cheaper, faster and much more efficient. Simply provide us with your details and we will get back to you with a quote.

For more information call us on 0800 0460 560