Filing requirements for Limited Companies; which documents to file and when

This is a frequently asked question and if over-looked can lead to serious consequences. A Limited Company is obliged to file the following:

1) Annual Return (Form 363)

What is it?
An Annual Return is a summary of the business data of a Limited Company. It essentially includes details of the company directors and company secretary along with a description of the main business of the company. It also shows shareholder and issued share capital details.

When should it be filed?
The Annual Return 'made-up date' refers to the date when the information in the return must be correct. This date is one year after the incorporation of the company.

What are the consequences of late/not filing?
Failure to file an Annual Return within 28days of the made-up date is a criminal offence. Companies House may also remove the company from the register of companies.

2) Statutory Accounts

What are they?
The Directors of every Limited Company are responsible for filing accounts for each financial year. Accounts should include a Profit and Loss Account, a Balance Sheet and Notes to the accounts and a Directors' report.

When should they be filed?
The time normally allowed to file company accounts is nine months after the Year End.

What are the consequences of not filing?
Not filing company accounts is also a criminal offence. In additio, late filing penalties are charged by Companies House as follows:


Not more than 1 month late                      £150
Between 1 month and 3 months late          £375
Between 3 months and 6 months late         £750
More than 6 months late                        £1,500

The penalties are doubled if a company files its accounts late in two years running.

3) Corporation Tax Return (Form CT600)

What is it?
The Company Tax return is a calculation of the amount of Corporation Tax the company is liable for based on the taxable profits of the business. A company that is liable for Corporation Tax must register with HMRC and file a Company Return on time. It is important to note that a company must register even of it is dormant or if there is no Corporation Tax to pay. It is important to register with HMRC within three months of starting a new limited company.

Unlike Tax Self-Assessment or VAT, where filing dates and payment dates are the same, the payment deadline is before the filing deadline.

When is the payment deadline?
Assuming company profits are less than £1.5m, Corporation Tax must be paid nine months after the end of the Financial Year. So, if the the year end is 31st March 2010, the Corporation Tax for that year must be paid by 1st January 2011.  


When should it be filed?
The Corporation Tax return should be filed within 12 months of the Financial Year end.

What are the consequences of late filing?
If a return is filed late there will be a penalty even if there is no liability to Corporation Tax.

Late filing will result in a penalty of £100. HMRC will charge another £100 if the return is more than three months late. If your company return is late three years running, the penalty is £500 plus another £500 if it is then more than three months late.

For the purposes of this blog, a 'company' is defined as a Small audit exempt company with a responsibility to file abbreviated accounts. 

If you would like any advice in this area or any other areas of accounting or tax, please contact me on 07834988638 or mail@sjhaccounting.co.uk, www.sjhaccounting.co.uk. Sarah Hamilton takes every. care in preparing material to ensure that the content is accurate and up to date.  However, no responsibility for loss to any person acting or refraining from acting as a result of this material can be accepted by Sarah Hamilton. You should always ask your accountant to give you specific advice which is tailored to your personal and business circumstances.