Limited Company Accounts
Services
A limited company must prepare statutory accounts every year, file them at Companies House, and submit a fuller set to HMRC with its corporation tax return. Miss the Companies House deadline and the penalty is automatic — £150 for being a day late, rising to £1,500 at six months, and doubled if you were late the previous year too.
Limited Company Accounts — what it is and who needs it
A limited company must prepare statutory accounts every year, file them at Companies House, and submit a fuller set to HMRC with its corporation tax return. Miss the Companies House deadline and the penalty is automatic — £150 for being a day late, rising to £1,500 at six months, and doubled if you were late the previous year too.
Small companies can file abridged or filleted accounts at Companies House, which keeps your profit and loss off the public record — competitors and customers see the balance sheet but not what you earned. It is a small thing that clients appreciate, and it is easy to get wrong if you file the full set by accident.
The more useful part of the job happens before year end, not after it. Once the year has closed, most of the tax planning options have closed with it. We look at director remuneration, the salary and dividend split, pension contributions, timing of equipment purchases and whether there is an unpaid director's loan heading for a section 455 charge — while there is still time to act.
We also keep an eye on the things that quietly go wrong in owner-managed companies: dividends voted without sufficient distributable reserves, a director's loan account drifting overdrawn, and personal expenses run through the company without being recorded as benefits. Each is fixable early and expensive late.
Who this is for
Directors of small and micro limited companies, whether you are the only shareholder or one of several.
Key facts & deadlines
-
Companies House deadline
9 months after financial year end.
-
Corporation Tax deadline
12 months after year end; payment 9 months and 1 day.
-
Corporation Tax rates
19% on profits up to £50,000 — 25% above £250,000. Marginal relief applies between.
-
Annual Confirmation Statement
Due every 12 months. £34 filing fee.
Free consultation — no obligation
Everything included in our
Limited Company Accounts service
Our all-inclusive service means no surprises — everything you need is handled by your dedicated accountant.
- Statutory accounts under FRS 102 Section 1A or FRS 105
- Filleted accounts filed at Companies House
- Corporation tax computation and CT600
- Director's loan account reconciliation
- Salary and dividend planning
- Confirmation statement filing
- Dividend vouchers and board minutes
- A pre-year-end planning conversation
Who our Limited Company Accounts
service is designed for
Directors of small and micro limited companies, whether you are the only shareholder or one of several.
Quick checklist
- Statutory accounts under FRS 102 Section 1A or FRS 105
- Filleted accounts filed at Companies House
- Corporation tax computation and CT600
- Director's loan account reconciliation
- Salary and dividend planning
- Confirmation statement filing
- Dividend vouchers and board minutes
- A pre-year-end planning conversation
TAG Accountancy vs. going it alone
See exactly what you get when an expert handles your limited company accounts.
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Accountancy
How our Limited Company Accounts service works
We keep it simple. No jargon, no chasing — just a reliable service that runs in the background.
Year-end review
Before your year closes we look at what can still be influenced — pension, equipment, remuneration.
We prepare and reconcile
Statutory accounts, the corporation tax computation, and a full check of your director's loan account.
Approve and file
You approve, we file at Companies House and HMRC, and you get the tax payment date in writing.
Common Limited Company Accounts questions — answered
Can't find the answer you need? Ask us directly →
Accounts are due at Companies House nine months after your accounting reference date. Your corporation tax return is due twelve months after year end, but the tax itself must be paid nine months and one day after year end — so payment comes before the return is due.
A first set of accounts is different: they are due 21 months after incorporation. We put all of your dates in writing at the start so nothing creeps up.
Companies House penalties are automatic and are not waived for being nearly on time: £150 up to one month late, £375 up to three months, £750 up to six months and £1,500 beyond that. They double if you also filed late in the previous year.
HMRC applies its own separate penalties for a late corporation tax return, starting at £100. Persistent late filing can also lead to the company being struck off.
For most owner-managed companies the efficient approach is a modest salary set around the National Insurance thresholds, which preserves your State Pension record and is deductible against corporation tax, with the balance drawn as dividends.
The exact split depends on your other income, whether the Employment Allowance is available to your company, and how much you actually need to draw. Dividends can only be paid out of accumulated post-tax profits, so the company has to have the reserves. We run the numbers rather than applying a rule of thumb.
It records money moving between you and the company outside salary and dividends. If you owe the company money at year end and it is not repaid within nine months and one day, the company pays a temporary section 455 charge of 33.75% on the balance until it is cleared.
Balances over £10,000 also create a taxable benefit in kind unless you pay the company interest at HMRC’s official rate. It is one of the most common and most avoidable problems we see, and it is much easier to manage during the year than to unwind afterwards.
Ready to simplify your
Limited Company Accounts?
Join 250+ businesses who trust TAG Accountancy to handle it brilliantly. The first consultation is completely free.
Let's talk about
your business.
Whether you want to switch accountant, need help with a specific return, or just want to know how much you could be saving — get in touch. The first call is always free.
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Norwich, NR9 3LU
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