What Accounts Do I Need To File For My Limited Company

19th November 2021

There’s plenty to consider when running a limited company - and failing to remember certain things can result in penalties. 

Filing accounts should be a priority for anybody that owns a limited company - as filing accounts late or failing to file can result in fines or fixed penalties. 

However, in extreme cases, the business could be dissolved and the directors could end up being prosecuted. 

Although that is the worst-case scenario, you want to avoid fines and penalties and ensure everything is done by the book and on time. 

Keep reading to find out what accounts you may need to file for your limited company.

Annual Accounts 

Regardless of whether your company is trading or dormant, you should be aware of annual accounts. 

Annual accounts are created to report on the financial performance of companies during a certain accounting period. Annual accounts include information on any assets or cash within the company, including any creditors or debtors. 

Some annual accounts may include a profit and loss account, a director’s report,  a balance sheet, an auditor's report (if required), and notes to the financial accounts. 

If you’re a smaller company, then you may need to provide less information, making the process quicker and easier. 

For help on completing your annual accounts, click here

Confirmation Statement (CS01)

Another thing that you’ll need to file is your confirmation statement (form CS01). This statement is required annually and should be filed at the Companies House. 

As opposed to the annual accounts which involve mostly financial information, the confirmation statement involves general information about your company. 

For example, you’ll need to include up to date information about your company’s registered office address and the location of SAIL (single alternative inspection location). 

Some other information you’re required to include on the confirmation statement is the principal business activities (SIC codes), and the names and addresses of any directors. 

You’ll also be required to include company secretary information and their personal details, as well as details of anybody that has significant control over the company and the nature of their control. There will be a section about shareholders and share transfers, too. 

Corporation Tax Return (CT600)

Another important form you’ll need to file is your corporation tax return (form, CT600). This is filed to HMRC as opposed to the Companies House. 

If you’re a new limited company, you must register with HMRC as an active company within three months of starting any business activity. 

Even if your company hasn’t made a profit or you don’t owe tax, you must complete a corporate tax return and file it to HMRC every year. 

The absolute deadline for filing for a CT600 tax return is one year after the end of your company’s accounting period - but it’s always recommended to get the form completed and sent to HMRC as soon as possible.

However, the rules regarding corporation tax may be different if your company is dormant or non-trading. Click here to learn more.  

If you want to know the ultimate list of tax deductions for UK companies, click here.

VAT Returns 

No matter the size of your limited company, you should send your VAT returns to HMRC every three months (every quarter) if your profits exceed the VAT threshold. 

VAT is charged on goods and services sold - although the customer pays VAT on products and services purchased, it’s down to the company to file the VAT returns accurately and timely. 

The good news is that the quarterly VAT return is quickly and easily completed online, so you don’t have to worry about pages of paperwork. 

For help with VAT, click here.

PAYE Returns 

If your company pays wages or salaries to employees or directors, then you’ll need to register with PAYE (pay as you earn) with HMRC. 

First of all, you’ll need to let HMRC know any payroll information, and every payday, inform HMRC about any payments made to employees as well as information about any deductions (e.g national insurance and income tax). 

You may also need to provide HMRC with an Employer Payment Summary (EPS). Some HMRC forms you may need to complete regarding employee pay include P14, P35, P60, and P11D. 

Your company is also required to pay income tax deducted as well as relevant employee national insurance contributions to HMRC, which have a deadline. 

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