Nottingham Accountants |
PREPARATION AND PRODUCTION OF FINAL ACCOUNTSWhen dealing with clients my prime responsibility is to ensure that I minimise the amount of Profit shown and thereby hopefully declare a true and fair view of your business and you only pay tax on what is truly profit. The client pays my fees not the Inland Revenue. Whilst I have a responsibility to the client to ensure a true and fair view of your business, I have to ensure that only allowable expenses are claimed, because if an inspection is called for, any expenses disallowed would increase you taxation and could even lead to a fine. When completing accounts for people, all I require is the supply of Sales and Purchase invoices, Bank Statements and either the Cheque Books, Paying-in Books covering the period or a schedule of the items involved in order that a full reconciliation can be completed. |
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| It is often helpful to know a little about the client and how they operate, in order that I can be sure that full allowances and overheads are claimed. In a lot of circumstances I have picked up the use of private facilities that are often not visible in the transactions of the business, and clearly this can have a great affect on the true profit being declared. | |
