Guidelines for maintaining tax returns for UK companies

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directory ​

Since the British company I registered has not yet submitted the report, the content of the article is still being updated. Accuracy and adaptability may be problematic, please useGov.UKThe content shall prevail. You can collect articles and update them completely after going through all the processes.

Another article:Guide to Opening a British CompanyI can help register a British company and hope to help more friends who need to go to sea.

What needs to be done each year ​

After the establishment of the company, two types of reports need to be submitted every year:Company Information + Financial/Tax Reports。In general, you can choose Self Assessment. When you can’t do it, you can find some intermediary services.

  1. Confirmation Statement: Similar to an annual report, it contains basic information about the company and is submitted once a year. Before 2016, it was called “annual return”.
  2. Annual Accounts / Company Tax Returns: Annual Financial Report/Tax Report

Company Information Report (Confirmation statement) ​

can login WebFiling Web filling tool. Find your company name and click file for this company。The purpose is to confirm that the company’s basic information is up to date. Company House even thoughtfully prepared

The filing fee is £13 and will be charged by Company House.

WebFiling looks like this (above)

Financial tax report ​

  • Start/deadline for submitting annual financial accounts to Company House
  • Company Tax Return to HMRC

Important:

It is unclear whether the company can only fill in the Company House report if it is small enough. (For example, the threshold has not been reached)

If your company belongs to Micro-entities, you can also use WebFiling to fill in.

Note: If two of the three items are satisfied, it will be recognized as a micro-entity

  • Turnover less than £ 632,000
  • Assets less than £ 316,000 (amount on balance sheet)
  • Number of employees within 10 (inclusive)
account type Filling options
dormant account Dormand Software, CATO, WebFiling
Micro entity Software, CATO, WebFiling
Completely unaudited Software, CATO

Others need to be filled in by software.View software list。

Does my financial report need to be audited? ​

Under normal circumstances, two of the three requirements are met and audit is exempted

  1. Revenue less than £ 10.2 million
  2. Total assets less than £5,100,000
  3. Number of employees under 50 (inclusive)

Of course, there are exceptions, see the link below.

Note: Data source Audit exemption for private limited companies

Address renewal ​

The registered office address is equivalent to the registered address of the domestic company; the service address is the address of the director. It is said that you can fill in the address within China to exempt this fee. The address of 1stformations comes with a service:Letters sent to that address will be scanned and sent to you.

  • Registered Office Address:£39/year
  • Service Address:£26/year
  • Note: The above prices do not include tax

You can also find other service providers, and the effect is similar to the amount.

How to activate an account ​

There are two important codes

  1. When you register the company, you get an Authentication Code on the spot, which is used to verify the modification permissions.
  2. Obtain a UTR (UK’s Unique Taxpayer Reference Number) and an activation code through ordinary letters within one month.

If you are a registered address at 1stformation, they will scan the pdf and send it to you for free on the same day.

Activate it within three months after receiving the activation code. Below are two letters I received for reference.

UK sole taxpayer reference number (above)

Activation code (above)

When will it be reported? ​

in“Company Search”In, search your company name to find the start and expiration dates.

The confirmation statement in the figure below starts on 2024 – 08 – 16, that is, one year after successful registration; the deadline is August 30. The start time of financial data is 2024 – 08 – 31, and the deadline for submission is 2025 – 05 – 17.

  • Note: Time algorithm reference for the first reportThis article:

The company displays the start/deadline of the report (above)

What are the consequences of delay or neglect? ​

If financial accounts and tax returns are not sent in a timely manner, fines will be incurred.

delayed time fines
within 1 month £150
1-3 months £375
3-6 months £750
more than 6 months £1,500

Failure to send a Confirmation Statement faces a fine of up to £5,000 and the company may be cancelled.

What are the responsibilities of British company directors

What is a director? The Companies Act 2006 defines it as: “a person who is responsible for the overall direction of the company’s affairs.” Directors are “people” who manage company affairs and are responsible for the overall business of the company. Ta has the following responsibilities:

  • Follow the rules set by the company
  • Keep company records (e.g. receipts). Report promptly when there are changes in company information (such as changes in registered office).
  • Fill in financial statements (Accounts) and file company tax returns (Company Tax Returns)
  • If individuals are interested in a company transaction, shareholders need to be informed
  • subject to cit

If you violate, you may be fined and banned from becoming a director of a British company.

Dormand and cancellation of the company ​

Dormancy (Dormand)

If there is no income on the account, it does not mean that the annual report can be ignored. Since it has not been operated yet, this piece will be temporarily ignored. If you need it, you can refer to it Dormant companies and associations 。

Cancel the company (Strike Off)

If you no longer need this company, there is also one on 1stformationsDissolution service, priced at £ 69.99。If you operate it yourself, it looks like this:

The way a company is closed depends on whether it is insolvent. If you can pay the debt, the most important thing is to pay £ 10, send the DS01 form to the Company Registry. This document cannot yet be filled out online. Refer to specific matters Strike off your limited company from the Companies Register Tax may also be required when funds on the account are transferred to individuals. If the following conditions are not met, the company needs to be dissolved.

You can only strike off your company if it:

  • has not traded or sold off any stock in the last 3 months
  • has not changed names in the last 3 months
  • is not threatened with liquidation
  • has no agreements with creditors, for example a Company Voluntary Arrangement (CVA)

Liquidation and dissolution If operations such as issuing statements and publishing newspapers are included, refer to the specific process Liquidate your limited company

Appendix ​

noun explanation ​

  • Company Tax Return: Declare company tax
  • Annual Accounts: Annual financial accounts
  • Confirmation Statement: The company’s basic information report submitted annually to Companies House
  • HRMC: The abbreviation of HM Revenue Customs, the UK Revenue and Customs Service, which can be understood as the UK Revenue Service
  • Companies House: The British company registration authority can be understood as the British Industry and Commerce Bureau
  • Service Address: The personal address of the company’s directors, secretaries and other senior management personnel, used to receive legal documents and communications related to the company. The address is public, so a virtual address is generally purchased to protect privacy
  • Registered Address: Can be understood as the registered address of the domestic company
  • Company Unique Taxpayer Reference: (UTR), which means “UK’s Only Taxpayer Reference Number”(Tax Number)
  • Made up: Compilation. Make up financial accounts for example
  • Dormand: Sleep
  • Due by: Deadline. Must be submitted before this date.
  • Accounting reference date: Accounting reference date, generally used in the financial accounting cycle, the end date of the year
  • CATO: company accounts and tax online, abbreviation for online reporting tool,CATO address

related links ​

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