Company Annual Accounts
Directors of limited companies must submit annual accounts and the corporation tax return to Companies House and HMRC generally within nine months of the end of their financial year. This is a complex process requiring professional expertise and specialist systems. It’s rare for either to be found outside recognised accounting firms.
Accuracy is key. It is illegal to knowingly submit inaccurate accounts as they can affect how much corporation tax your business pays. Banks, investors and other external parties will also evaluate your business’s accounts if they are considering lending to, investing in or partnering with your business.
Your business can be fined for filing inaccurate information or missing the deadline for filing its annual accounts.
