When We Do Your Accounts: Deadlines and Deliverables

At Finance Box, we understand the importance of timely and accurate accounting services. In this article, aimed at limited companies, we shed light on the process of when we undertake your annual accounts and final corporation tax calculation and the deadlines that govern our work. Please see our Self-Assessment article if you are a sole-trader.

27 March 2024
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Around 3 min
#FBX Assist

Commencing the Journey

As a Finance Box Assist client, your journey to financial clarity begins with you. Before we can begin the compliance work, we need you to make sure that everything in Xero is up to date, reconciled and complete. This means all sales need to have been records, all bills form suppliers and all bank accounts need to have been reconciled.

We will be in contact sometime after two months have passed since your year-end to see how you are getting on with updating Xero. This strategic timing allows for things like late bills to arrive and bank statements to be produced.

The Deadline Looms

Your annual accounts are due to be filed at any time within the 9 months of your year end. This gives us a long amount of time to get the work done - but the sooner the better. The longer things get left, the less memory you have about the transactions we may need to ask you about. In addition, the sooner we can do a full review of your numbers, the sooner we can look at a plan for the new year which by then you’ll have already started.

The Power of Proactivity

In accounting, timing is everything. By initiating the process of your annual accounts within the designated window, we allow you to plan and strategise with confidence, knowing that your financial foundation is in capable hands.

As the deadline draws near, rest assured that our team is working tirelessly behind the scenes, ensuring that your business remains compliant. 

Timeline of events

  • The timeline starts at your company year end. 

  • 60 days later - deadline for completing your bookkeeping in Xero

  • Approximately 120 days (5 months) after year end we’ll deliver you a draft of your annual accounts

  • 9 months from year end is the annual accounts filing deadline. We’ll usually do the corporation tax filing by this time also

  • 9 months and 1 day form year end is the deadline for paying your corporation tax. We’ll show you how.

  • 12 months from year end is the deadline to file your corporation tax return - but we’ll likely have done this with th annual accounts filing.