Lambert Roper & Horsfield Limited Accountants Calderdale, Huddersfield
You are here: Home » Business services in Calderdale » Annual Accounts

Annual Accounts services in Calderdale


Sole traders and partnerships are legally required to prepare annual accounts. Companies, limited liability partnerships and other bodies have extra responsibilities under the Companies Acts and other legislation.

Although this may seem like an extra burden on your business, we can help you turn this process into something much more: a valuable source of information to support planning and decision-making.

For a start, we’ll time your accounts to take best advantage of early tax planning opportunities.

We won’t redo work you have already done because we prepare the annual accounts from your underlying records, tailoring our work to how far you have been able to take the accounts yourself.

What we will do is give you feedback on your accounting systems, to improve the flow of your management information. Our own accounts software links to our tax software, to maintain speed and accuracy in dealing with your accounts.

We’ll make sure that your accounts comply with best accounting practice and present them in a professional manner. This reflects well on your business if you need reports for your bank, potential investors or other financial bodies, while your accounts themselves also demonstrate the financial integrity of your business.

Your contact director will discuss the accounts in detail with you, exploring tax and tax planning issues, as well as any other topics you wish.

We’ll also identify strengths and any unexpected trends within your accounts and suggest solutions if we find areas where your business and its performance could be strengthened.

To find out more about how we can help you, please contact LRH accountants in Calderdale.

The New LRH Client Portal


We are delighted to announce that the LRH client portal (powered by Onvio, a Thomson Reuters company) is now fully operational… Continue reading →

Get in touch!


Telephone: 01422 360788

Email: mail@lrh.co.uk

"We provide proactive and timely advice, based on an in-depth knowledge of our clients and their businesses."

Nick Frost, Director

"Accurate and timely information is essential for business owners and enables them to make the right decisions."

Sam Mitchell, Director

 
 

Latest News

Is 2025 your year to incorporate? Here are our top tips

January 16th, 2025

Nearly 900,000 companies were incorporated in 2024 – an 11.2 per cent increase compared to 2023. More entrepreneurs are recognising the benefits of limited companies.

The advantages of limited companies include limited personal liability, mitigated taxation and greater exposure to investment opportunities.

To help you start your journey towards limited company status, here are our top tips:

Research

Taking the first steps towards incorporation should not be taken lightly. Whilst it limits liability if things go wrong, it does come with some strict compliance requirements in regard to regular reporting to Companies House, which you need to prepare for.

Paying yourself

As a director, you can pay yourself via salary, dividends, or both to maximise your take-home pay.

The most efficient approach is often to pay yourself a lower salary, so you are not liable for Income Tax or National Insurance Contributions (NICs), but still contribute enough towards your state pension, and take the rest as dividends, which is subject to a lower tax rate.

Be aware that it may not always be possible to pay a dividend if your profits aren’t sufficient.

Structuring your company

When considering the distribution and management of share rights in a limited company, several key aspects must be carefully planned and managed. You will need to define how dividends are paid, voting rights and share structure.

At this stage, you may also need to discuss a future exit, including transfer, drag-along and tag-along rights.

As part of this process, you will need to address how the shares and shareholder rights align with the company’s Articles of Association.

Open a business bank account

Open a separate bank account for your business as soon as possible. Some founders make the mistake of thinking they can mix personal and business finances at the beginning, but it makes applying for reliefs and paying taxes more complicated as you have to declare what each transaction is for and when it was made.

Treat your business like a separate entity (because it is)

If you plan to inject personal funds into your company or take money out, do it properly through a Director’s Loan Account.

Make sure to detail each transaction going in and out of the business and never take out excessive amounts of money, as this can attract attention from HM Revenue & Customs (HMRC) and lead to fines.

If you are considering incorporation, you should seek professional advice and ongoing support to reduce the potential for errors and non-compliance with Companies House regulations.

Ready to take the next step? Contact us today for expert advice on incorporating your business.

< |||| > 1 2 3 4 5

Subscribe to our newswire

Want the latest news and tips from us? Enter your email address below.


    captcha

    I am happy to receive newsletters and promotional information from Lambert Roper & Horsfield.

    If you would like to see full details of our data practices please visit our Privacy Notice and if you have any questions please email data@lrh.co.uk.