Limited company filing requirements explained
Corporation tax return
The CT600 (corporation tax return) needs to be filed 12 months after the end accounting period, so if the year end is 31st January 2022 the CT600 needs to be filed by the 31st January 2023.
The corporation tax is due 9 months after the end of an accounting period. An accounting period for tax purposes cannot be more than 12 months so if the company’s accounting period is more than 12 months there will be two periods for tax purposes with earlier due and payment dates.
There is no charge to submit the CT600 to HMRC but there is a penalty if it is late.
|Time after your deadline||Penalty|
|3 months||another £100|
|6 months||HMRC estimate your Corporation Tax and add 10% penalty of any unpaid tax|
|12 months||another 10% of any unpaid tax|
A confirmation statement (which replaces the Annual Return) is submitted to Companies House annually and needs to be submitted within 28 days of the anniversary of when the company was incorporated, so if the company was incorporated on 18th December 2020 the date that the next confirmation statement will be made up to is the 18 December 2022 and will be due by 15th January 2023.
What a confirmation statement includes:
- details of the directors and company secretary, if it has one
- what your company does – including its standard industrial classification (SIC) codes
- the type of company it is, eg private or public
- the registered company address
- the ‘single alternative inspection location’ (SAIL) – the address where records are kept if not
at the registered address
- shareholders and shareholdings
- details of controlling parties
There is a charge of £13 (online) or £40 (paper copy) to submit this form to Companies House.
There is no late fine fee but if you consistently file late you can be fined up to £5,000.
Accounts are required to be submitted to Companies House which disclose less than the full set of accounts (Statutory Accounts) which includes the balance sheet from the statutory accounts, along with any notes. The accounts are normally due within 9 months of the end of the accounting period but for the first period it is within 18 months of incorporation if this is earlier.
There is no charge to submit the accounts to Companies House but there is a penalty if it is late.
£150 if a month late
£375 if 1-3 months late
£750 if 3-6 months late
£1,500 if more than 6 months late
The penalty is doubled if accounts are filed late in 2 successive years.
© Thandi Nicholls Ltd 2023 All Rights Reserved – The above articles are provided for guidance only and may not cover your personal circumstances so you should not rely on them. It is important that you seek appropriate professional advice which takes into account your personal circumstances where you can provide the full facts of the case and all documents related to your case. Thandi Nicholls Ltd t/a uklandlordtax.co.uk, S Thandi or M S Bains cannot be held responsible for the consequences of any action or the consequences of deciding not to act.
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