Category Archives: Annual Accounts

How Can I Make My Company Dormant?

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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

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Choosing the Right Structure for Your Business: Limited Company or Sole Trader?

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Sole Trader or Limited Company

The two most popular business structures in the UK are Limited Companies and Sole Traders. In this post we’re going to look at the two and highlight some of the pros and cons of each. Continue reading

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Annual Return and Annual Account due dates explained – infographic

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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

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Dormant company accounts & the accounting reference date: What date can you file?

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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

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Checking your annual return and annual account due dates

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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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By Mathew Aitken at MadeSimpleFind Mathew on Google+

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What is the Accounting Reference Date?

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The Accounting Reference Date is automatically set as the last day of the month that a company was formed in

The accounting reference date pinpoints when a company’s financial year ends. As well as this, it also acts as a reference point for when annual accounts need to be delivered to Companies House.

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

Continue reading

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What does a Limited Company need to file with Companies House?

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The Companies House filing obligations explained

If you have formed a limited company, you have two filing obligations with Companies House; annual returns and annual accounts. Due to the wording, these two are often mistaken for each other – the aim of this post is to put an end to this confusion!

Annual Returns

The return is a yearly update with Companies House to inform them whether there have been any changes to the structure of the company. These could be changes to directors, shareholders, share structure, the nature of the business, or the registered office. Even if there have been no changes, it’s still necessary to file an annual return. The annual return is due (at the latest) 1 year and 28 days after the company is formed (but can be filed any time before, as long as the company is 1 month old) and then subsequently for each year following. Continue reading

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