Tax Advisors + Annual Company Accounts: The Challenge
As tax advisor, preparing bank statements for annual company accounts is a common but time-consuming task. Preparing annual accounts for Companies House requires reconciling a full year of bank transactions. Many small companies still rely on PDF statements from their bank.
How BankScan AI Helps Tax Advisors with Annual Company Accounts
Batch-convert entire folders of bank statement PDFs into structured spreadsheets to speed up tax return preparation and HMRC enquiry responses. For annual company accounts specifically, BankScan AI extracts Opening and closing bank balances, total income received, categorised expenditur automatically.
How Tax Advisors Handle Annual Company Accounts
When preparing bank statements for annual company accounts, tax advisors need to Tax advisors collect bank statements alongside P60s, dividend vouchers, and rental income records to prepare self-assessment returns. During HMRC enqu. BankScan AI automates the data extraction step.
Key terms you'll encounter: self-assessment, HMRC enquiry, information notice, tax computation.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload Full financial year (12 months), aligned to the company's accounting reference date of statements for annual company accounts.
AI extracts what you need
Our AI extracts Opening and closing bank balances, total income received, ca — formatted for tax advisors workflows.
Complete your annual company accounts work
Download Excel files ready for annual company accounts. Full year reconciled to the nominal ledger, with month-end balances matching bank reconciliation statements, ready for trial balance extraction
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Tax Advisors — Annual Company Accounts
- Built for Tax Advisors — Saves 2-3 hours per complex self-assessment return during tax season, and up to 8 hours when responding to HMRC enquiries requiring multi-year statement analysis
- Software compatible — Output works directly with TaxCalc, Taxfiler, IRIS
- Built for Annual Company Accounts — Convert your full year of bank statements to Excel for fast reconciliation, trial balance preparation, and Companies House filing.
- Key data extracted — Opening and closing bank balances, total income received, categorised expenditure, inter-company transfers, director loan account movements, dividend payments
Compliance: Tax Advisors + Annual Company Accounts
When tax advisors prepare bank statements for annual company accounts, specific compliance requirements apply.
- Tax advisors must comply with HMRC's Agent Authorisation framework and Professional Conduct in Relation to Taxation (PCRT) guidelines. They have a duty to submit accurate returns and must retain supporting documentation including bank statements for the statutory record-keeping period.
- Legal basis: Companies Act 2006 sections 394-397 (duty to prepare accounts) and sections 441-453 (filing requirements and penalties)
Annual Company Accounts — Built for Tax Advisors
Accounts must be filed within 9 months of the accounting year-end for private companies; late filing penalties start at 150 GBP and escalate to 1,500 GBP
Try Free — Tax Advisors + Annual Company Accounts