Guide: Record Keeping and Compliance - The Essentials

Regardless of what company structure you adopt, you will have to keep accurate company, accounting and tax records.

Penalties for not keeping proper records are high and falling foul of the law does your company’s reputation no good either.

Companies House and HMRC have a right to inspect your records at any time so store them in a safe place, like your registered office address. You can keep the original documents or scan and store them electronically.

There is significant overlap between the information that you need to maintain for Companies House (if you are registered) and HMRC. Generally, the records you need to keep for HMRC are also applicable for Companies House.

KPMG Small Business Accounting

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