ACCOUNTS PREPARATION & FILING
What are the requirements?
Companies are required by Company Law to prepare accounts (known as ‘Statutory Accounts’) annually. This applies to companies that are actively trading and to those which are dormant.
The purpose of statutory accounts is to provide a breakdown of the company’s financial performance and financial position for a given fiscal period. The level of detail included in the accounts will vary depending on the size of your company.
Whether you are a contractor, sole trader, established business or charity, we can;
prepare accounts in full compliance with the applicable reporting frameworks and company law;
advise on appropriate disclosures and disclosure exemptions;
make all necessarily filings with the appropriate bodies e.g Companies House, the Charity Commission etc.
What information is required?
Accounts must be filed at Companies House & HMRC annually. They must comply with the financial reporting framework relevant to your company and be filed by the applicable deadlines.
Your accounts must be 'tagged' when submitting to HMRC - this tagging is known as iXBRL tagging and involves assigning certain properties to figures in the accounts using the applicable HMRC taxonomy.
When submitting your accounts to Companies House or HMRC, you will need to include your corporation tax figures. Computing your corporation tax involves submitting a corporation tax return, known as a 'CT600'.
What are the deadlines?
Company accounts are prepared at the end of your company’s financial year. Accounts must be submitted to Companies House no later than 9 months and 1 day after the end of your financial year. For example – if your company has a year end of 31 December 2018, you will need to file accounts before 1 October 2019.
Usually 12 months from accounting period start
Accounting year end
9 months and 1 day
Date of incorporation
Accounting period start
Usually the first day of the month following incorporation
Seems like a while before you will need to submit accounts?
Don't get caught out by complacency.
Read our 'Incorporation and filing dates' page to find out more
Newly incorporated an looking to
file your first set of accounts
Whatever your needs, get in touch with
us today and we'd be happy to help
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Established business, looking to
change your accountant
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