If you run a Limited Company, you are required to prepare statutory accounts and submit these to Companies House annually. You are also required to file a Corporation Tax Return annually with HMRC. We’ll take care of everything that HMRC requires and inform you of the corporation tax payment if required. We also provide a calendar reminder service to avoid any late penalties.
When you first set up a limited company you are automatically assigned a date for the company’s end of financial year, this will be the last day in the month that you incorporated your company. Your first set of accounts will be due 21 months after that date and from then on 9 months after your financial year end. The accounting period for your tax return can be different to your financial year but is usually the same.
All active companies (and ones that became dormant within the financial year) must file a year-end tax return. The tax return contains the income figures from your profit and loss account minus your tax allowances and expenses. The tax return (or CT600) includes a tax calculation that shows how your profits have been adjusted to figure out your taxable profits.
Micro-entities (i.e. over 90% of Kent businesses) and small companies can send simpler accounts to Companies House and the accounts do not need to be audited. However, statutory accounts still be sent to your shareholders and HMRC as part of your tax return.