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We run your day-to-day bookkeeping digitally on Xero, keeping your accounting records accurate, tidy and always up to date.
General information to help you understand this area — not personal advice. Rules, thresholds and deadlines can change, so check the latest HMRC guidance or ask us about your circumstances.
HMRC requires businesses to keep records that are complete and accurate enough to prepare a correct tax return. Limited companies must generally keep accounting records for at least six years from the end of the financial year they relate to; the self-employed should keep records for at least five years after the 31 January submission deadline of the relevant tax year.
VAT-registered businesses must keep digital records and file VAT returns using MTD-compatible software. Making Tax Digital for Income Tax is also being phased in for sole traders and landlords over set income thresholds, making digital, well-kept records increasingly important.
Clean, current bookkeeping is the foundation everything else sits on — VAT returns, year-end accounts, management information and tax planning are all only as reliable as the underlying records.
We’ll be happy to answer your questions, take the time to understand your current tax and accounting position, and discuss how we can help you.