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Certifiying Sole Traders accounts

TomB

TomB

New Member
Hey All,

An accounting question for lunchtime.

Quick background info, when i bought my flat last august, had a few problems as i didn't have certified accounts for my business.

So i want to make sure that i have certified accounts to prove the income etc.

So a few questions.

What is really involved in this, is it as simple as an accountant looking at them to make sure they are ok and then signing them off?

How much do you think this would cost? I've had a quote for
 
Scottish Business Owner

Scottish Business Owner

New Member
Tom,

I would have thought an accountant could certify them but I would think they would have to have a practicing certificate. I've put a call in to an IFA friend just now. Should have a definite answer for you soon :p
 
Scottish Business Owner

Scottish Business Owner

New Member
Ok an update. According to what i've been told if you have filed accounts via the self-assessment method then most brokers etc would accept this as proof of earnings without the need for them to be certified. Afterall these are ones that have been filed with HMRC ;)

It will be different if you have a limited company as technically you are an officer and employee of that company. Feel free to asjk any other questions Tom, i'll also pass on my friends number should you need it :)
 
TomB

TomB

New Member
Thanks .

I'm glad you cleared that up for me i was considering paying
 
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S

ScottJ

New Member
Indeed I have always filed my own self assessments and my bank has used that along with my own history as a basis for a mortgage offer.

I have always gone by the April to April tax year, so submit my returns by Sept (now end of Oct) and once submitted HMRC calculate the tax for me and send a statement showing my declared earnings & the tax & NI due.
 
Scottish Business Owner

Scottish Business Owner

New Member
Scott got there before I could :p but he's spot on.

If you do want any help with the return itself feel free to drop me a pm :)
 
TomB

TomB

New Member
thats good to know Scott.

Do you submit them electornically? or by paper?

Thanks as well , I think i will be taking you up on that offer!!!

T
 
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S

ScottJ

New Member
I'm a bit old school, for all my online dealings I still prefer to keep everything in Excel and then just submit them in person at my local tax office which will be done this year before end of Oct and then the tax is worked out for me.
 

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