Small companies – Accounts filing options

Changes to UK company law removed the option for small companies to file abbreviated accounts for accounting periods starting on or after 1 January 2016.

If you’re a small company you have 4 options for filing your accounts:

Micro-entity accounts

You must meet at least 2 of the following:

• turnover is no more than £632,000
• balance sheet total is no more than £316,000
• average number of employees is no more than 10

Abridged accounts

You must meet at least 2 of the following:

• turnover is no more than £10.2 million
• balance sheet total is no more than £5.1 million
• average number of employees is no more than 50

Full accounts with Companies House and HMRC

These joint accounts are suitable for small companies who are audit exempt and need to file full accounts Companies House and HMRC. You can also file your tax return with HMRC at the same time.

Dormant company accounts

These accounts are suitable for companies limited by shares or by guarantee that have never traded or simply want to reserve the name.

How to file your accounts

Help Filing Company Accounts with Companies House and HMRC?

We can definitely help you prepare and file any of the above sets of Accounts.

We are small business accountants based in South West London SW16 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, Self Employed, Start Up, Start Ups

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