All limited need to file a Confirmation Statement and Annual Accounts on a yearly basis. Even if they’ve never traded. But what happens if you miss the deadline? In this blog post we look at the implications of filing your Confirmation Statement or Annual Account late (or don’t file them at all). Continue reading
Valentine’s Day is nearly here and to celebrate we thought we’d
shoehorn a ‘love theme’ into a business blog. take a look at some big dates that you really shouldn’t forget when it comes to your limited company. So pop open the champagne, get some chocolates out and crank up the Barry White…. we’re going to explain what these important company dates are and highlight what happens if they pass you by (clue: the answer is not “you get dumped”). Continue reading
Formed a company but not sure what to do next? No problem adventurers. We’ve designed this infographic to help you navigate through the early stages of running and growing your very own business. You’ll find tips-a-plenty and some guidance on dodging potential hazards. It’s a jungle out there… but we’re here to help. Continue reading
You’ve found a company name you like and so naturally you want to prevent anyone else from taking it before you’re ready to get your business up and running. This brings us to one of the most common queries we receive on customer service; “How can I make my company dormant?” Continue reading
As soon as your limited company has been formed you are given an Accounting Reference Date along with due dates for your company’s Annual Return and Annual Accounts. But where do these dates come from? Are they just plucked from thin air or is there some logic behind it? Our infographic explains your company’s due dates and explains why it’s so important that you don’t miss them… even if your company isn’t trading. Continue reading
Undoubtedly one of the most common queries that we get here at Company Formation MadeSimple is about what the difference between two very important filing obligations are for a limited company. These are Annual Returns and Annual Accounts. Continue reading
Dormant company accounts are a version of company accounts filed by companies that have never had any trading activity. A company’s first set of accounts should be filed no later than 21 months after the company was formed. Following accounts should be filed no later than 9 months from the next accounting reference date. Continue reading
Knowing your limited company’s due dates is important. Why? Because:
- If you do not file an annual return Companies House will threaten the dissolution of your company as well as criminal action against the company directors.
- If you file annual accounts after the due date Companies House will impose a penalty (the total depends on how late the annual accounts are filed – you can view the different penalties here).
This is why we let you know your annual return and annual account due dates as soon as you log in and select ‘My Companies’. What’s more, we even colour code the date so you know filing obligations that are ‘Overdue’ and ‘Due in 2 months’ at a glance (and if you click the arrows you can arrange your companies by due dates):
Leave a comment if you have any questions about this.
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For example, if a company were formed in January 2014, the accounting reference date would be 31/01 (the date automatically falls on the last day of the month that the company was formed in) – the first set of accounts should then cover from the company formation date up to 31/01/15. The following set of accounts should cover from 31/01/15 up to 31/01/16 and so on.
Can I change the Accounting Reference Date?
Yes, but with restrictions:
- You can’t change a period for which accounts are already overdue
- You can’t extend a period beyond 18 months unless the company is in administration
- You can’t change the period more than once in five years