Bookkeeping and VAT

Why is book-keeping Important?

If you are in business then by law you must keep “proper books and business records”.

Failure to do so may result in penalties being charged by HMRC.

Aside from this legal obligation if you do not record your business transactions timeously and accurately, then:-

  • It will be difficult for you to monitor the financial position of the business.
  • You will have inadequate financial controls.
  • You may pay the wrong amounts of tax.
  • You may have to pay your Financial Accountant more money to prepare your accounts.

What some of our clients say...

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