FRS 105 Reporting for Micro Entities

 

 In a nutshell, bookkeepers who qualify by examination will be authorised to submit end of year accounts for Micro Entities directly to HMRC at the end of the financial year. I am currently studying towards this recent legislation and aim to be qualified by the end of 2017.

 

 

I am also investing in Taxcalc Accounts Production software which links the yearly accounts directly to the tax calculation. Accounts can then be filed online to Companies House and also to HMRC for self assessment.