{"id":109960,"date":"2017-12-19T15:35:18","date_gmt":"2017-12-19T15:35:18","guid":{"rendered":"https:\/\/startups.co.uk\/?p=109960"},"modified":"2023-12-21T15:57:51","modified_gmt":"2023-12-21T15:57:51","slug":"how-to-keep-accounts","status":"publish","type":"post","link":"https:\/\/startups.co.uk\/accounting\/how-to-keep-accounts\/","title":{"rendered":"How to do small business accounts"},"content":{"rendered":"

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Startups.co.uk is reader supported – we may earn a commission from our recommendations, at no extra cost to you and without impacting our editorial impartiality.<\/p>\n <\/div>\n <\/div>\n[vc_column_text]As the turn of the tax year approaches in April 2024, now is the time to learn how to do your small business accounts professionally. Whether you choose to hire an accountant or manage your own accounts with quality accounting software<\/strong><\/a>, it’s vital to know how the whole process works so you can keep good records throughout the year<\/strong>, keep a close eye on your cash flow forecast, and even potentially cut down the hours your accountant bills you.\n

That’s where we come in. This guide will explain what you need to know about small company accounts, including what you absolutely have to do to satisfy HMRC and Companies House<\/strong>, and the best way to keep records of the specific information they’ll need every year.<\/p>\n

You’ll learn exactly how to prepare for the entire process, and what to ask your accountant when it’s done.[\/vc_column_text]\n <\/p>

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\n \n \n What is a small business according to HMRC? <\/span>\n <\/div>\n \n
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According to the official government guidance<\/strong><\/a> on small and dormant companies, to be considered a small company, a company has to tick two of the following three boxes<\/strong>:<\/p>\n