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UK Accounting

31 March 2021

1. which accounting solutions is best for UK ACCOUNTING?
2 how we can file returns to HMRC and companies department there?

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10 Replies

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 01 April 2021

1. IFRS

2. Visit hmrc website

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Legal Assistance (prop) (75 Points)
Replied 01 April 2021

Should we use any software for these as we use in India?

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 01 April 2021

You purchase uk based one so that filings can be done. If you contact them, they will help you with customisation software which has SA 109. For other procedures just go through this https://www.gov.uk/tax-uk-income-live-abroad

Legal Assistance (prop) (75 Points)
Replied 01 April 2021

Please suggest us some easy to use software we are new in the field. can we do it online on government site straight away thanks

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 01 April 2021

You are doing personal filings I guess. There is an email contact to this software, email them and find out more. Just explain them the nature of your tax

https://www.gosimpletax.com/who-uses-gosimpletax/overseas-income/

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yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 01 April 2021

I just entered into chat and they are saying they can advise on your problem. Log into this website chat https://eztax.in/contact

Legal Assistance (prop) (75 Points)
Replied 01 April 2021

We provided annual consolidated figures of income and expenses, we asked to make day book, Do we need figures on daily basis for day book as in India or there is some different way of day book in UK?

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 01 April 2021

Internal accounting is same as Indian day book. But you have to follow the Conceptual framework 2018 and related standards to record every transaction. This is available on eifrs subscripttion at 40 euros per Anjum or you can google.