Use this before a discussion
Organise the relevant information first
The records needed depend on the company, its accounting period and its activities. This guide is not a substitute for reviewing the facts of the business, and it does not determine the accounting or tax treatment of a transaction.
Checklist
Records to bring together
- 01
Accounting period and company status
Confirm the financial year-end, whether this is the company’s first period, and any changes in trading, directors, shareholders or company activity.
- 02
Bookkeeping and bank records
Provide bookkeeping files or reports, bank and credit-card statements, cash records and reconciliation information for the relevant period.
- 03
Sales, income and debtor information
Organise sales invoices, income records, payment-platform reports, amounts owed to the company and any material credit notes or adjustments.
- 04
Purchase, expense and creditor information
Keep supplier invoices, expense evidence, recurring-cost records and details of amounts the company owes at the year-end.
- 05
Payroll, VAT and tax records
Gather payroll reports, pension information, VAT returns and supporting records, PAYE information and HMRC correspondence where these apply.
- 06
Assets, finance and director transactions
List significant assets bought or sold, finance agreements, loans, hire purchase, leases and any director loan or expense information.
- 07
Company, legal and prior-year documents
Keep the last signed accounts and tax return, Companies House correspondence, confirmation statement information and relevant shareholder or board documents available.
Practical notes
Points to keep in view
- For a typical private limited company, GOV.UK states that annual accounts are generally due nine months after the financial year end, Corporation Tax payment is generally due nine months and one day after the Corporation Tax accounting period, and the Company Tax Return is generally due 12 months after that period. First accounts and unusual circumstances can differ.
- An organised records pack reduces avoidable questions but does not remove the need to review unusual transactions or incomplete information.
- Raise any planned closure, change of accountant, share change, loan, dividend, new finance or period of non-trading early, as it may affect the work needed.
Related support
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