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Those self employed will require business accounts to be prepared in order to calculate their Income Tax and National Insurance liabilities. We can help you identify which method of accounting (Cash Basis vs Traditional/Accruals Basis) is most suitable and tax efficient for your business.

Private Limited Companies require 'statutory accounts' to be prepared each financial year using the company's financial records. Statutory accounts consist of a 'Balance Sheet' and a 'Profit and Loss' account, ML Accounting Suffolk can produce these for your company meeting the relevant financial reporting standards(FRS) under FRS 102 and FRS 105 depending on the size of your company.

Whether you run a business as a sole trader or are a limited company we can assist with producing your business accounts on a monthly, quarterly or yearly basis.

A review of these accounts can assist with critically analysing the performance of your business and identifying potential cost-savings.

Business accounts are a way of displaying your business growth and potential to prospective investors or lenders if you are looking at boosting your capital.