{"id":6853,"date":"2019-11-11T13:35:29","date_gmt":"2019-11-11T13:35:29","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=6853"},"modified":"2024-09-18T09:47:20","modified_gmt":"2024-09-18T08:47:20","slug":"annual-filings-what-your-company-needs-to-file","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/annual-filings-what-your-company-needs-to-file\/","title":{"rendered":"Annual filings \u2013 what your company needs to file"},"content":{"rendered":"
UK limited companies are required to undertake a range of annual filings, the main ones being the confirmation statement, annual accounts, and a Corporation Tax Return. Failure to do so can have potentially serious consequences, so it is vital that you’re aware of your company’s filing requirements and deadlines.<\/p>\n
All companies \u2013 including those which are dormant or not trading \u2013 are legally required to submit a confirmation statement\u00a0(Companies House form CS01<\/a>) each and every year to Companies House.<\/p>\n Previously known as an annual return, the confirmation statement<\/a> verifies the registered details of a company, ensuring that Companies House has all the latest information. The data that this form specifically confirms includes:<\/p>\n Companies are required to file at least one confirmation statement in every 12-month period, known as a \u2018review period\u2019. For new companies, this review period begins on the date of the company incorporation. Subsequent review periods begin on the date the last confirmation statement was submitted.<\/p>\n Confirmation Statement Service \u2013 only \u00a359.99 plus VAT<\/span><\/a>\n \n Confirmation statements must be filed at least 14 days following the end of each relevant review period. This is known as the \u2018filing period,\u2019 although they can be filed earlier if the company wishes. Submitting a confirmation statement early will automatically reset the 12-month review period.<\/p>\n Example A<\/b> Example B<\/b> The confirmation statement was introduced on 30 June 2016. Prior to that date, a similar annual filing requirement existed but it was instead called an annual return – and indeed many businesses which have been established for several years are still more familiar with this term.<\/p>\n Although the purpose of both the confirmation statement and annual return is broadly the same (i.e. to ensure any changes to important company details are updated on the public register), there are nevertheless a few differences.<\/p>\n The annual return provided a snapshot of a company at a specific date. Whereas, the confirmation statement requires the company officers to check and confirm that the information held by Companies House (including that which is not reported using the confirmation statement) is accurate and up to date.<\/p>\n On the annual return, you had to enter all of the registered details of the company on the form. You don’t have to do this with the confirmation statement. You only need to confirm that the information at Companies House is correct. If anything is out of date, you will provide the new information on the confirmation statement (certain details only) or notify Companies House separately on the relevant form(s).<\/p>\n Dormant companies, including those dormant for Corporation Tax and dormant according to Companies House, are still obliged to submit their annual confirmation statements.<\/p>\n Note: Even if nothing has changed during the review period, it is still necessary to file a confirmation statement.<\/p>\n Quality Company Formations provides a <\/strong>c<\/strong>onfirmation <\/strong>s<\/strong>tatement filing service, <\/strong>helping ensure you never miss a deadline, and submit your confirmation statement correctly. Existing customers can purchase this service through the \u2018Shop\u2019 by <\/strong>logging in to our Online Company Manager<\/a>, and it is also available to any company on our <\/strong>Confirmation Statement Service<\/a> page.<\/strong><\/p>\n Company directors are required to prepare accounts (known as \u2018statutory accounts\u2019) for each financial year, which will generally include:<\/p>\n The purpose of the annual accounts is to provide a general overview of a company\u2019s financial position. For stand-alone companies, these are known as individual accounts. Parent companies may additionally need to prepare group accounts.<\/p>\n Dormant company accounts – saving you time and money<\/span><\/a>\n \n Annual accounts should generally be accompanied by a directors\u2019 report signed by a director or company secretary which includes a business review\/strategic report; and an auditor\u2019s report (unless there is an exemption from audit).<\/p>\n These annual accounts must be shared with members and shareholders, and the company is also required to file these with Companies House (and, in some instances, with other regulatory bodies).<\/p>\n A company\u2019s first set of annual accounts<\/a> must be filed within the first 21 months of its incorporation date. Accounts thereafter must be filed within 9 months of its accounting reference date (ARD), or 6 months after its accounting reference date if it is a public company.<\/p>\n The ARD is the date that the accounts must be made up to. For new companies, the first ARD is always the last day of the month in which its anniversary of incorporation falls. The ARD will remain on the same date each year unless the company changes it.<\/p>\n With regards filing deadlines for annual accounts, a month is considered to begin and end on the same date. Therefore, when a company’s ARD falls on the last day of the month, the filing period ends on the last day of the relevant month.<\/p>\n Example A<\/b> Example B<\/strong> Example C<\/b> A couple of important points to note regarding deadlines are:<\/p>\n New companies submitting first annual accounts that cover a period of more than 12 months must deliver them to Companies House within 21 months of the date of incorporation (18 months for public companies). If the first set of annual accounts covers a period of 12 months or less, the general filing deadline applies (i.e. 9 months after the accounting reference date).<\/p>\n Dormant Company Accounts Service \u2013 only \u00a349.99 plus VAT<\/span><\/a>\n \n Companies that have shortened their accounting period (which is reported at Companies House using form AA01 \u2018Change your company accounting reference date<\/a>\u2019) will have a filing deadline of 9 months from the new accounting reference date (6 months for public companies) or 3 months from the date of receipt of the notice of change, whichever is longer.<\/p>\n You can file your annual accounts online with Companies House<\/a>, or you can send hard copies by post.<\/p>\n Whilst there is no specific requirement for companies to use a professional accountant to prepare annual accounts, directors must ensure that they’re aware of their legal responsibilities, and it is recommended that they seek professional advice.<\/p>\n Even if your company is dormant, you still need to submit annual accounts to Companies House.\u00a0 However, provided the dormant company has not had any \u2018significant transactions\u2019 during its financial year, you have the option of submitting less burdensome \u2018dormant company accounts\u2019.<\/p>\n Quality Company Formations offers a Dormant Company Accounts Service at a cost of \u00a349.99 plus VAT, ensuring that your accounts are filed in just one working day. If you’re an existing customer, you can login to your online client account<\/a> on our website and purchase the service in the Shop area. New customers can purchase the service by visiting our Dormant Company Accounts Service<\/a> page, or by calling our Company Secretarial Team on +44 (0)203 984 5389.<\/p>\n Corporation Tax must be paid by all companies that make a profit. This includes not-for-profit clubs, co-operatives, other unincorporated associations, charities, and foreign companies with a UK branch or office. Sole traders and LLPs, however, do not need to pay corporation tax.<\/p>\n How do I get a unique taxpayer reference (UTR) for a new company?<\/span><\/a>\n \n Although applicable businesses do not receive a bill for Corporation Tax, they are required to:<\/p>\n You can file your Company Tax Return (form CT600<\/a>) online using the\u00a0Government Gateway<\/a> service. Under certain circumstances, it is possible to make this annual filing on paper.<\/p>\n The deadline for paying Corporation Tax is normally 9 months and 1 day after the end of the company’s accounting period. This is generally the same 12-month period as that covered by annual accounts, although sometimes they may diverge.<\/p>\n The deadline for filing a Company Tax Return is normally 12 months after the end of the accounting period.<\/p>\n If your company is not trading - save time and money on filing annual accounts<\/span><\/a>\n \n Dormant companies do not need to file tax returns after\u00a0<\/strong>they have told HMRC that they are dormant. If a company fails to tell HMRC that it is dormant, it will be expected to complete a Company Tax Return and will be fined if it fails to deliver this.<\/p>\n After five years of informing HMRC that a company is dormant, HMRC will assume that the company has become active unless informed again of its dormant status.<\/p>\n Failure to file a confirmation statement is a criminal offence for which directors are liable to prosecution. Furthermore, the company\u2019s credit rating may be affected, and it could be struck off the companies register.<\/p>\n There are a range of penalties for companies that are late in submitting their annual accounts, starting from \u00a3150 and rising to \u00a31,500, depending on how late they are. Directors are also liable to criminal prosecution if the accounts are late or not delivered. More information can be found by visiting GOV.UK\u2019s Penalties for late filing<\/a>.<\/p>\n There are various penalties for failing to meet deadlines for Company Tax Returns and Corporation Tax, starting with a minimum of \u00a3100. More information is available on the GOV.UK website<\/a>.<\/p>\n"},"excerpt":{"rendered":" UK limited companies are required to undertake a range of annual filings, the main ones being the confirmation statement, annual accounts, and a Corporation Tax Return. Failure to do so can have potentially serious consequences, so it is vital that you’re aware of your company’s filing requirements and deadlines. Confirmation statements All companies \u2013 including…<\/p>\n","protected":false},"author":10,"featured_media":7850,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[1234],"tags":[],"class_list":["post-6853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-compliance-legal-filings","category-1234","description-off"],"acf":[],"yoast_head":"\n\n
When is a confirmation statement due?<\/h4>\n
\nA new limited company was incorporated on 1 April 2024. The review period began on 1 April 2024 and will end on 31 March 2025. The company should file its confirmation statement by 14 April 2025, at the very latest.<\/p>\n
\nA new company was incorporated on 1 April 2024. The review period began on 1 April 2024 and will end on 31 March 2025. The company decides to submit an early confirmation statement on 4 January 2025. This means that the next review period will run from 4 January 2025 to 3 January 2026. The company should file its next confirmation statement by 17 January 2026 at the latest.<\/p>\nDifference between the confirmation statement and the old annual return<\/h4>\n
Do dormant companies still need to file a confirmation statement?<\/h4>\n
How to file a confirmation statement<\/h4>\n
\n
Annual accounts<\/h3>\n
What are annual accounts?<\/h4>\n
\n
When are annual accounts due?<\/h4>\n
\nA new company is incorporated on 25 April 2024. The company’s ARD is 30 April 2025. It has until 25 January 2026 to submit its first set of accounts. This is 21 months after the date of incorporation.<\/p>\n
\nA private company with an accounting reference date of 4 May 2024 has until midnight on 4 February 2025 to submit annual accounts to Companies House. This is 9 months after the ARD.<\/p>\n
\nA private company with an ARD of 30 April 2024 has until midnight on 31 January 2025 (the last day of that month, rather than 30 January) to submit annual accounts to Companies House.<\/p>\n\n
How do I file annual accounts?<\/h4>\n
Do I have to file annual accounts if my company is dormant?<\/h4>\n
Corporation Tax and the Company Tax Return<\/h3>\n
\n
Deadlines for filing a Company Tax Return and paying Corporation Tax<\/h4>\n
Consequences of missing any of the annual deadlines<\/h4>\n
Understanding the confirmation statement and PSC register<\/a><\/blockquote>