The days of the brown paper bag with a jumble of hastily assembled receipts, assorted cheque books and intermittently retained bank statements are now long gone. 

All taxpayers are required to keep accurate records to support their accounts and tax returns. Failure to keep records and pay taxes by the due date exposes the business and individual to a punitive penalty regime.

Failure to account for all business takings, including cash receipts, is a serious offence and may be considered to be money laundering no matter how small the amounts involved.

Properly prepared accounts are essential for supporting applications for finance and various tax credits and to facilitate retention of good credit ratings.

The practice will assist in setting up adequate bookkeeping systems and suggesting methods of saving for tax liabilities when required. Clients should be wary of being persuaded to use expensive, established bookkeeping software as this is often unnecessarily compliced in many cases.

There are occasions when the taxpayer has suffered illness or personal problems which have delayed their record keeping and tax return submission. The practice is experienced in bringing matters up to date in a sensitive, non-judgemental, efficient and cost effective manner and is often recommended in this field.