What is the legal requirements. Do I need an Accountant?

[sassan]

Hi,

I formed a limited company a few years ago and this year is my first year of trading. I have been submitting my annual return and DCA form (non-trading company) to the Company House in the passed years by myself (do not have an accountant). I estimate that my turn over to be around £3000 for year 06-07. I use an accounting package which generates profit/loss account. My questions are:

Is it a legal requirement to have an accountant when a company started trading?

If I am capable of doing my accounts and producing annual accounts do I need to employ and pay for an accountant to oversee and stamp my profit/loss account before submitting it to the Company House?

I do appreciate your answers.

Many thanks
Sassan

[fisicx]

My accountant wife is surprised that you are a limited company with only a 3K turnover - but in any case, she says all you need to do is complete an income return at end of year (and do it online). If you do need to use an accountant all they need to see is the balance sheet.

Hope this helps

[Birmingham]

http://www.businesslink.gov.uk/bdotg...mId=1073793551

this link is very useful to a publication by business link which tells u just about everything u need to know about rules and regulations for running a business, including plenty of stuff about tax returns and accounts, and the book is actually interesting and not very big.

after recently having read a bit of the finincial guidance form this book i think u don't need an accountant. best check for urself though.