Company Year-End Checklist: What You Need to Do (and What We’ll Handle for You)
When your financial year comes to a close, it’s easy to feel overwhelmed by the admin. But it doesn’t have to be stressful. With the right support and a clear plan, you can tidy up your records, stay compliant, and head into the new year with clarity and confidence.
We’ve put together a simple checklist to show what you need to do as a business owner, and what we’ll take care of if you’re working with us.
What You (the Business Owner) Should Do
? Reconcile your bank accounts
If you do your book keeping in house, get the bank accounts up to date. Even if you outsource your book keeping, double-check that your business bank, credit card, and loan balances match your bookkeeping software. If you’re unsure, just ask.
? Chase unpaid invoices
If any customers still owe you money, follow up and get those payments in before year-end.
? Settle bills and liabilities
Pay any outstanding invoices or costs for the current year.
? Gather receipts and expense records
Collect all business-related receipts and ensure they’re uploaded or stored digitally.
Have you made use of trivial benefits? Ensure that all the documentation is in your accounting software and reconciled correctly.
? Count and value stock (if applicable)
Get a clear year-end stock figure to use in your accounts.
? Submit staff and director expenses
Include any mileage claims, purchases made personally, or reimbursements.
? Review your director’s loan account
Ensure you’re not in overdrawn territory to avoid unexpected tax bills. As for help here if you need it.
? Update your mileage log
Especially important if you claim business mileage through the simplified method.
? List any big purchases
Flag any equipment or assets bought close to year-end. This could affect your tax position.
What Love Accountancy Will Do (or Can Do for You)
? Finalise your bookkeeping
If outsourced to us, we’ll check for errors, tidy up reconciliations, and make sure nothing’s missing. Otherwise we’ll assist you in the process closely.
? Post year-end journals
This includes accruals, prepayments, depreciation, and anything else to get your accounts right.
? Prepare and file your annual accounts
We’ll handle your statutory accounts and file them with Companies House.
? File your Corporation Tax return
We’ll calculate your tax and submit the CT600 to HMRC on time.
? Provide dividend and pay advice
We’ll help you plan tax-efficient withdrawals or reinvestment decisions.
? Run your payroll year-end
Includes P60s, director bonuses, and reporting of any benefits.
? File your Confirmation Statement
We’ll make sure your company records are up to date with Companies House.
? Support your VAT returns
We’ll help align your VAT periods and ensure you’re MTD-compliant.
? Deliver a year-end review
We’ll walk you through the numbers and offer strategic advice for the year ahead.
? Recommend system or process improvements
We’ll suggest time-saving tools like Xero or our Cash Management System.
Expert Tips & Common Pitfalls
- Don’t leave it last minute: Give yourself (and your accountant) time to plan properly.
- Keep good notes: This helps with HMRC queries or when you do it all again next year. Good accounting software will help with this.
- Ask questions: If you’re unsure, ask. Guessing leads to mistakes.
- Consider tax investigation insurance: It’s a small cost for peace of mind if HMRC ever comes knocking. It’s included with all Love Accountancy packages.
About Love Accountancy
At Love Accountancy, we make year-end feel like just another simple step in your business journey. Based in Exeter and working with clients across the UK, we offer expert, technology-led accounting services designed to save you time and reduce stress. Whether it’s filing your annual accounts, staying compliant with HMRC, or helping you get more from your numbers, we’re here to help you grow.
Looking for support with your company year-end? Let’s make it effortless.