Year end accounts for active UK companies
Following the anniversary of the UK company, as dictated by your accounting reference date (ARD), it is a requirement to prepare year end accounts for submission to Companies House – the public records office, and a Corporation Tax return for submission to HMRC.
You will normally only have to file one UK Company tax return every year, unless your annual accounts span a period of more than 12 months. Where this occurs you will be required to file two tax returns. The first return would cover the 12-month period and a second return for the remaining period of time.
The year end accounts (often referred to as annual accounts or financial statements) for submission to Companies House must be in the approved format.
Once finalised by us and approved by our clients, we complete the process by submitting these reports to both government departments online, as well as our clients for their records.
Our clients also use these year end reports for their group reporting for their parent company where a UK subsidiary has been established.
We act for some clients at the financial year-end and complete these associated year-end reporting requirements on their behalf. These are completed from clients own internally generated financial records where we do not manage the monthly, or quarterly bookkeeping and accounts.
We provide support either on an hourly rate, or fixed price depending on volume of transactions and other such variables, for the preparation of annual accounts, Corporation Tax return and submission of the accounts to Companies House and the return to HMRC. For further information regarding this support, please get in touch.
Dormant year end accounts for UK companies and tax returns
If a limited company has been dormant from the date of incorporation, or from one accounting period to the next, no tax return is required.
However, if a company has been active for some of its accounting period, it must file a tax return to cover that period of activity.
HMRC must be informed if your UK company is dormant; HMRC will then not request a tax return for your company.