GMS BUSINESS ACCOUNTANTS LTD

All business have to file annual accounts with companies house, and tax returns with HRMC. Annual accounts show the performance of the business for that financial year, and can compare this performance to the previous financial year. They can use used for credit checks, or when applying for loans. It's important they are accurate and represent what has happened through the financial year. The tax return will tell you how much profit is liable for tax, and how much tax you need to pay to HMRC. There are a number of factors which can influence this such as capital allowances.

GMS Accountants can produce and file both company accounts and tax returns on your behalf, please get in touch to see how we can support you.

All Sole Traders will need to file annual tax returns with HRMC. The financial year begins on the 6th April, and finishes the following year on the 5th April. The deadline for filing and paying your tax return is the 31st January, for all online submissions. Part of the tax return process will be looking at the performance of the business by creating a profit and loss report, this profit and loss report will then be used to create your tax return. The tax return will tell you how much profit is liable for tax, and how much tax you need to pay to HMRC. There are a number of factors which can influence this such as capital allowances.

GMS Accountants can produce and file your tax return on your behalf, please get in touch to see how we can support you.

Quarterly VAT returns are now digital only. That means:

Collect invoices & receipts. Calculate Sales VAT against Purchase VAT. File online no paper required.

Deadlines are strict, and face penalty points, then a penalty fine.

At GMS Accountants, we provide comprehensive Personal Tax support, managing your self-assessment submissions on your behalf. Our service covers all required income declarations, including employment, self-employment, dividends, rental, and foreign income, as well as any previously unpaid taxes. We require documentation of income, taxes already paid, and relevant expenses to optimise your return. Early filing after the start of the tax year ensures smooth financial planning and eliminates last-minute surprises, delivering a professional and reassuring experience.

We provide a comprehensive payroll solution designed to keep both your team and HMRC satisfied. From precise salary calculations to end-of-year filings, our service covers every detail including statutory pay and pension contributions. By outsourcing payroll to us, businesses benefit from reliable compliance, time savings, and secure handling of sensitive financial data, regardless of team size.

Our company formation service supports entrepreneurs in establishing a limited company efficiently and in full compliance with legal requirements. We oversee the process from choosing officers and registering a company address to filing applications with Companies House. Partnering with us guarantees accurate documentation, proper incorporation, and a strong foundation for your businesss legal and financial structure from day one.

We have been with GMS for a few months. I have found enquiry responses are extremely quick have been pleased with the what I've seen so far.

After calling Graham he immediately helped me out with my tax return. He was very quick and efficient and I would definitively recommend him. I will be definitively returning to him.

After calling Graham in the morning he had dealt with my request by the afternoon wich I was so grateful and surprised by. He was so helpful and professional. I would definitely recommend his services.