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Payroll is the process of paying an employee by the employer by using the payroll system to pay the correct amount of money to the employee at the end of the working period.

The Personal Tax Return also known as the self-assessment tax return, is the process in which individuals/sole traders/partner can declare their annual tax on profits they made from their trade from the 6th April to the 5th April of the financial year.

Financial statements known as the year-end accounts/annual accounts are financial information that shows the financial activities and performance of a business. It plays an important role in helping business owner understand the financial position of their business over a period of time.

It is a legal requirement for all UK limited companies to submit their accounts to Companies House within nine months of their financial year’s end