Company Accounts & Corporation Tax
We are experts in helping those who operate through limited companies and we will manage both your company accounts and corporation tax compliances. We also offer a company secretarial service where all correspondence from Companies House and HMRC is sent to you via us, so all important deadlines are met.
Year-End Company Accounts & Corporation Tax
As your Accountants we will file all the annual accounts limited companies are required to submit to Companies House and HMRC, including a full CT600 Corporation Tax Return.
All of your accounts will be submitted in the correct format e.g. full accounts or abbreviated accounts. We’ll be fully compliant with your disclosure requirements.
You won’t have to worry about incurring any penalties because we will make ensure that you never miss a deadline.
Statutory / Company Accounts
Every company should essentially prepare its Statutory/Company accounts annually. The purpose of doing this would be to produce a simplified breakdown, an account of the financial state that the Limited Company is in that year and how it is performing.
At the end of the company’s financial year these assignments should be completed and submitted to:
- All Shareholders
- Companies House
What do Statutory / Company Accounts Involve?
Each statutory account is tailored to a company considering its size, for example: The 5 types of Limited Companies in the UK:
- Dormant Company
- Large Company
- Medium-Size Company
- Small Company
Company accounts are an overview of a business to aid stakeholders in making any required decisions. They are not meant to be extremely detailed or very in-depth – that would not be helpful for the task they are prepared for.
Corporation Tax returns
Every Limited Companies should submit a Company Tax Return (CT600) and Company Statutory Accounts to Customs and the HM Revenue. This should include how Corporation Tax was calculated, including a Profit & Loss Account which is different to your Profit & Loss account for statutory accounts. Asking for advice from a qualified accountant is the best way to help reduce corporation tax for your business.
Private Limited Companies (LTD) have different deadline regulations compared to Public Limited Companies. Both depend on the date of your Company’s accounting reference (also known as the year end date). Once your company is first incorporated, the date of this day is automatically set as the first anniversary of the last day of the month in which you formed the company-this does not change.
If we take a look at an example: if a company is formed on the 2nd of April 2019, then the automatic accounting reference date would be, 31st April 2020. The following reporting date would then be 31st April 2021
Deadlines for Limited Companies
1st Accounts due to Companies House
Annual Accounts due to Companies House
21 Months from date of Company Formation
9 Months from Company’s Financial Year End
File Company Tax Return (CT600)
Pay Corporation Tax
12 Months from Accounting Period
9 Months and 1 day from ‘accounting period’ for Corporation Tax