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LTD - FX/Commodities trading company accounting questions

Hi there,
I am about to file my first annual accounts. My company trades in forex and commodities and I have a couple of questions as to how I should file:

  1. the trading account itself
  2. trading losses
  3. trading wins

I am currently bulking up all of my monthly trades into one aggregate loss or win and but I don’t know what the correct accounting code would be - please help - much appreciated!

For the first year I am not paying out any dividends to the directors however this may become relevant during the subsequent years.

  1. Is paying out dividends a better option for a two person company?
  2. Under what situations is it likely a better option to set up PAYE accounts?

Please do let me know if any additional info is required - the deadline is at the end of the month so I feel quite stressed out.

These are questions for your accountant - once you know what you need to record then this forum can help you with how to represent it in QuickFile but the questions you are asking are more financial advice rather than technical support, and anyone knowledgeable enough to be able to answer wouldn’t be permitted to do so on here without knowing your business in more detail.

Hi @y0c4,

Further to what @ian_roberts has said there are a number of Accountants that have accounts with QuickFile these can be accessed from your account dashboard in the top right hand corner. They can also be found at accountants.quickfile.co.uk.

It may be worth you getting in touch with one of those if you haven’t got your own accountant already as they will also know how QuickFile works so can answer your questions and give you answers that relate to QuickFile.

Hope this helps

@QFBeth Thanks :+1:

I’ll reach out tonight and hopefully get this sorted.

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