If you have recently setup a new limited company or are thinking of doing so then one of the areas that you need to be aware is the accounts and tax filing regime for companies.
After the end of its financial year, a private limited company must prepare full annual accounts and a company tax return. The deadline for filing the first set of accounts with Companies House is 21 months after the date the company was registered with Companies House. Annual accounts must be submitted 9 months after the company’s financial year end.
There is a fixed date for the payment of Corporation Tax which is 9 months and 1 day after the end of the relevant accounting period. Note that a company is usually required to pay the tax due in advance of the filing deadline for a company tax return.
In most cases a company’s tax return must be submitted within 12 months from the end of their accounting period. Online Corporation Tax filing is compulsory for company tax returns. Company tax returns have to be filed using the iXBRL data standard using either HMRC’s own software or third-party commercial software.
The accounting period for Corporation Tax is normally the same 12 months as the company financial year covered by the annual accounts. Note that there are penalties for filing late with Companies House and HMRC.
03/07/2025 - More...
Side income over £1,000 may mean filing a tax return. HMRC is urging part-time earners to check their tax position for
03/07/2025 - More...
Registering for payroll is essential when hiring staff. From HMRC registration to legal compliance, getting payroll
03/07/2025 - More...
You must tell HMRC if you no longer need to file a tax return. Whether you have stopped trading or no longer rent out
With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!
» Sign up for the Newsletter
» Login