PLEASE HELP: Filing My First Company Tax Accounts

[Jordan Hamilton]

I'm looking for a bit of guidance on filing my first accounts to HMRC, without an accountant.

 

I've had a good look through this forum and haven't found the answers I was hoping for so...

 

I'm keen to do as much as possible myself, including my accounts. I've kept all the books but now It's time to file my first company accounts.

 

Where do I start?! Below are a list of problems I encountered once I logged onto HMRC:

 

1. It's saying I can only file my Companies House accounts and that I need tax software to upload my HMRC accounts - why is this and how do it do it?

 

2. Do I file micro-entity, abridged or full accounts - and why??

 

3. When on the 'Profits and Loss' page is my 'Turnover' all of my revenue income and 'Cost of sales' my revenue expenses?

 

4. When on the 'Balance Sheet' page, do my director's loans and mortgages fall under 'Creditors: amounts falling due after one year'? Also what's called up share capital?

 

Essentially I feel a little out of my depth but it looks as though once I've got my head around it there should be no reason I couldn't do this myself. I appreciate I could just go to an accountant but I'd really like to try and figure it our for myself for now - I managed to do my own conveyancing myself after lots of research.

 

Thanks in advance,

Jordan

[sarah Ferris]

Hi Jordan

 

I am in the same position. Have a bit of grace time before I need to file but have been putting it off because seems like such a mission to do it myself. Interested to know how you get on. 

 

 

 

Sarah 

[Jordan Hamilton]

Hi Sarah,

 

Yeah I think i've got till about March 19. I'll be sure to message you if I figure it out through this forum or by other means!

 

Jordan

[Debbie Franklin]

Would normally try to help but we use third party software so don't know my way around HMRCs own.

 

If you are filing yourself you need to be au fait with the requirements of either FRS102 or 105 depending on which you use/are eligible for and of course the requirements of the companies act. You can google all of these.

 

Deb