External Authorities to know about

What records should you keep?

When you start a company, you need to know how well it is doing! One important element to this is keeping close track of its “Financial Health”. To enable this, you need to keep complete and accurate financial records.

Why and who should care about this?

You really should! It’s your company, so you need to know how well it’s doing, by keeping a nice upto date set of records!

Who else needs to know?

Certain Regulatory Authorities also need to know about your companies performance:

HMRC

The UK Tax Authorities – HMRC (Her Majesty’s Revenue and Customs) – need to know whether they are collecting their fair share of tax, so they can pay for all the public services they provide.

You will be required to submit a copy of your accounts and all your tax returns to HMRC.

» HMRC

Companies House

The UK Registrar of Companies - Companies House - requires all UK companies to file a minimal set of disclosures (for many reasons, but also because it helps others know how well you’re doing).

You will need to make certain submissions to Companies House at the end of each year.

» UK Companies House