Irrespective of the size, every company needs to file a set of accounts and make tax returns(Form ct600) and we agree that Limited company accounts preparation, adhering to deadlines and producing them in iXBRL format accepted by HMRC is a tough task.

When you set up your limited company, you automatically get different reporting dates for the first:

• annual accounts you send to Companies House
• Company Tax Return you send to HM Revenue and Customs (HMRC)

You may also have to send (‘file’) 2 tax returns to cover your first year in business.

Annual accounts

Your first accounts usually cover more than 12 months. This is because they:

• start on the day your company was set up (‘incorporated’)
• end on the ‘accounting reference date’ that Companies House sets for the end of your company’s financial year – this is the last day of the month your company was set up

Company Tax Return

The period covered by your tax return (your ‘accounting period’ for Corporation Tax) can’t be longer than 12 months. So you may have to file 2 tax returns to cover the period of your first accounts. If you do, you’ll also have 2 payment deadlines.

In following years you then normally only file one tax return – and it will usually cover the same financial year as your accounts.

What you must do

The dates of your first tax return – and whether you file 2 or one – depend on whether your company:

• started trading on the same day it was set up
• didn’t start trading until after it was set up

Help Filing Company Accounts with Companies House and HMRC?

KG Accountants based in south London  SW16 are small business accountants who provide Small business accounting services and Taxation services including completing and filing your tax returns, Limited Company Accounts, payroll, bookkeeping and VAT at a reasonable price.

If you need to speak to a Pro active Accountant about your new venture, please contact us on 0208 679 4690 please Visit our  website. 

Categories: Bookkeeping & VAT, Company Accounts, Limited Companies, Limited Company Accounts, Limited Liability Partnerhsip, Members of LLP, Taxes

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