Why Is It Important To Hire A Consulting Firm For Accounting And The Overall Formation Of A Company?

 Do you own a company and have to submit the annual financial accounts, are you planning on it, or are you ready to start a company? In either of the cases, you will require a respected and trustworthy consulting firm that can guide you through the right path and ensure that everything you submit is perfect to meet your legal obligations. If you are starting a new company then they will ensure that all details like the registration of the company name, director, trading details, company secretary, and share allocation are completed perfectly and everything goes smoothly. Moreover, the company secretary manages a lot of legal work and has to go through the most difficult tasks by themselves so outsourcing these obligations to a professional will not only make sure that you are following the right business practices but are also fulfilling the legal requirements. Whenever you look for these kinds of services, you must ensure to hire a reliable and trustworthy company that can provide all of these services because they are interlinked. The company you choose must be your one-stop solution for all of your needs related to managing your company. Let us look at all of these services closely and which company would be the best to hire to gain all of these services. 

The annual financial account: Who needs to submit it and its basics?

The statutory accounts, also known as the annual financial accounts, are required by all companies operating as limited liability partnerships (LLPs), limited company partnerships (LCPs), and sole traders in the UK are also required to submit their Annual Financial Accounts when they are an individual and not a company. A company and a sole trader must ensure to send copies of the statutory account to all the shareholders, the attendees of the general meetings of the company, the company's house, and the HMRC as a part of the tax return filing. There are different deadlines for both the financial account and the tax return filing but you can always submit both at the same time before the deadline. If your company is small, dormant, or a micro entity then you can send simpler accounts by yourself but if your company does not classify as small, micro entity, or dormant then you must submit the proper statutory accounts and take the help of a consultancy is very important because they are the masters at this work and submit each and everything at the right time and in the right manner as well. If you decide to prepare the accounts by yourself and are late in preparing and submitting then you will be liable for a late filing penalty which is 150 pounds for a month and goes up to 1,500 punts for late submission of more than 6 months. The penalty is doubled if your accounts are late by 2 years. Even if you are late in submitting the accounts of your company on time, you can always appeal against the late filing complaint with the help of consultants in the UK. 

Formation and Company Secretarial: Do you need consultancy for it?

If you are starting a new company or are contemplating a different business structure to your current one, you might need assistance in multiple things like deciding the best trading vehicle and the overall structure of your company. Your company formation and company secretarial process can be very tough and incomplete without the right guidance because it is not an easy task as it involves a lot of legal work and ongoing company enforcement. The admin, paperwork, noting the modifications, keeping track of the inventories and the transfers are just a few tasks which are supposed to be done by the secretary of a company and if you decide to outsource the company secretary then it will be a nice decision as all of these tasks are made for the professionals in the field. With the support of an outsourced company secretary, you will save a lot of time and will not have to worry about deadlines anymore. There are a lot of companies around the UK that provide the services of a company formation and company secretary but before you hire any local company you must always run a background check on the company and must ensure that they are the best at what they do otherwise you might have to deal with new problems. 

What makes Efjconsulting the best and why must you choose us? 

We at Efjconsulting are one of the most renowned companies in the UK in the financial management sector. Our team is one of the best in all of the UK and we aim at our customer's satisfaction the most. We help all of our clients in all the ways possible and have professionals in making the financial account, Company Formation and Company Secretarial. The services at Efjconsulting are fast and extremely affordable according to the industry rates in London. You will gain from our company's knowledge and practical experience. We are well-versed in every aspect of the procedures and will also offer a service that is specifically tailored to your business. We charge our clients reasonably and prove to be worth the time and money our clients spend on us. Moreover, if you have any queries related to our company and its services or anything related to us then you can freely contact our customer care executives and they will ensure to answer your call and clarify all of the doubts that you convey to them. All you have to do to hire us is simply visit our website and get in touch with us through a call, a WhatsApp chat, email, or book an appointment with our employee to meet us physically.