Make sure you file accounts and other documents on time
Don’t incur penalties and interest
As you are in business, each and every year you need to file year end documents with both HMRC and Companies House.
Companies House
- Accounts
- Confirmation statement
HMRC
- Accounts
- Corporation Tax return
If you don’t file on time there is a hefty penalty regime. At Anytime we help our clients ensure they don’t incur unnecessary fines, penalties and interest.
HMRC expects your Company Tax Return and Annual Accounts
The deadline is 12 months after the end of the accounting period they cover. Any Corporation Tax due needs to be paid to HMRC within nine months and one day after each accounting period. Anytime will advise you when to pay your tax bills.
Late filing penalties issued by HMRC
- 1 day £100
- 3 months £100
- 6 months HMRC will estimate your CT bill and add a penalty of 10% of the unpaid tax
- 12 months Another 10% of any unpaid tax
If your tax return is late 3 times in a row the £100 penalties are increased to £500 each
Companies House also require your company’s Annual Accounts and these will be made public on the Companies House website.
The deadline for filing is 9 months after your year end (within 21 months of your company being incorporated if it’s your first return)
Late filing penalties issued by Companies House
- Up to a month late £150
- 1-3 months late £375
- 3-6 months late £750
- Over 6 months late £1,500
If you file late 2 years in a row penalties double
You can be fined and your company struck off at Companies House if you don’t send them your accounts on time.
You can also be fined and your company struck off at Companies House if you don’t send them your company’s Confirmation Statement on time?
As a director of a limited company, you need to confirm your company information with Companies House. You must file your Confirmation Statement at least once a year, and within 14 days of its due date. The due date is normally a year after your incorporation or the date you last completed a Confirmation Statement / Annual Return. You must submit a Confirmation Statement even if the company is dormant / not trading. Failure to file a Confirmation Statement can result in directors being fined personally in criminal courts, and your company being struck off the register.
If your company is struck off you can be made personally liable for the company’s debts. And if the company is struck off its bank account will be frozen. It is both expensive and time-consuming to get a company reinstated – so don’t risk it.
For further advice existing clients email us at support@anytime.uk.com or call 03333 110 230
For new enquiries contact us now
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