11. Why is it essential to get your Statutory Accounts right? 

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7 December 2023

The directors have a statutory responsibility to ensure that the company maintains accurate accounting records and to provide accurate financial statements to the company shareholders and other regulatory bodies. The statutory accounts figures also form the basis of corporation tax returns. If the statutory accounts are incorrect then the corporation tax return may also be […]

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The directors have a statutory responsibility to ensure that the company maintains accurate accounting records and to provide accurate financial statements to the company shareholders and other regulatory bodies.

The statutory accounts figures also form the basis of corporation tax returns. If the statutory accounts are incorrect then the corporation tax return may also be incorrect. The financial statements may also be requested by potential investors – whether you are fundraising or going through the due diligence during your Exit process.

A potential investor or buyer may walk away if they do not have confidence that the statutory accounts and records are accurate. Getting it right the first time won’t only save you some time in the future but also increase credibility and opportunities for higher value during your exit. Read more.

The information available on this page is of a general nature and is not intended to provide specific advice to any individuals or entities. We work hard to ensure this information is accurate at the time of publishing, although there is no guarantee that such information is accurate at the time you read this. We recommend individuals and companies seek professional advice on their circumstances and matters.

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