If the thought of working through year-end accounts for your limited company fills you with dread, you’re not alone! We’ll go through what needs to happen when your company reaches year end, and share some tips to make sure you’re prepared.
What is my company year end?
Your ‘Year End’ is basically the end of your company’s accounting period – you might also hear it called your accounting reference date. It’s the date your company’s accounts are made up to at the end of its financial year.
Each limited company has its own financial year based on the company’s ‘birthday’ (the date you registered it with Companies House) and ending on the last day of the month.
What do I need to file when my company year ends?
When your limited company reaches its year end, you’ll need to prepare:
- Full statutory annual accounts: This is a report on the company’s financial activities during the year, up until year end. It needs to be sent to all shareholders, people who can go to the company’s general meetings, HMRC (as part of your Company Tax Return) and Companies House.
- Company Tax Return: Most limited companies must submit this to HMRC online. You can only use a paper form (CT600) if you want to file your return in Welsh, or if you’re unable to file online due to a reasonable excuse.
What is the deadline for filing my company accounts and tax returns?
You’ll have filing obligations for both Companies House and HMRC once your company’s financial year ends. Listed below are the actions you need to take, along with the deadline. You can also use our online tax calendar (or if you’re a current client, you can view your personalised timeline in your Client Hub account).
| What you need to do | The deadline |
| File your first accounts with Companies House | 21 months after you registered with Companies House |
| File annual accounts with Companies House | 9 months after your company’s financial year ends |
| Either pay the Corporation Tax due or inform HMRC your company doesn’t owe any | 9 months and 1 day after your accounting period ends |
| File your Company Tax Return to HMRC | 12 months after your accounting period come to an end |
What happens if I miss any of my year end reporting deadlines?
Anyone who is late reporting information or paying their taxes will normally receive a penalty from either Companies House or HMRC. The deadlines are very strict, and some companies have even been struck off the register for failing to report on time.
If you are late, you’ll receive an automatic penalty notice to file your accounts, as well as a fine which can increase depending on how late you are.
Companies House late filing penalties
| How late you are Measured from the date your accounts are due |
Penalty Private Company or LLP |
Penalty Public Company |
| 1 month or less | £150 | £750 |
| Between 1 and 3 months | £375 | £1,500 |
| Between 3 and 6 months | £750 | £3,000 |
| More than 6 months | £1,500 | £7,500 |
HMRC late filing penalties for Company Tax Returns
| How late you are | Penalty Until 30th March 2026 |
Penalty On or after 1st April 2026 |
| 1 day | £100 | £200 |
| More than 3 months late | £200 | £400 |
| Three successive late filings | £500 | £1,000 |
| Three successive filings more than 3 months late | £1,000 | £2,000 |
How can I get ready for my company year end?
Your year-end can be a tough and stressful time if you’re trying to get everything ready – especially if you are new to it all. These tips may help make things easier.
Gather paperwork
Every report and tax return you produce should be based on the cold hard facts of your company’s records, such as bank statements, receipts, invoices, payroll… and so on. It’s yet another reason why good bookkeeping habits are essential for every business! If you’re able to keep everything up to date throughout the year, it makes the year-end process much simpler, too.
Chase overdue payments
You’ll want your accounts to be as accurate as possible, and the last thing you need is to pay taxes on money you don’t actually have yet. Crack down on any late payments before your reporting deadline to ensure you get the money in on time.
Sort your expenses out
Remember, you’re entitled to expenses! Claiming expenses will reduce your profits, which means you pay less Corporation Tax. Keep track of everything your company spends, and ensure you claim for anything you’ve used ‘wholly and exclusively’ for your business.
Cross-check everything
Ensure everything adds up. You don’t want your accounts to say one thing, and your supporting documents to say another. If you’re unable to get payments for some invoices, list them as outstanding debts owed rather than revenue and include any notes you think are necessary – for example, if you think you might not be paid by a customer, or if there’s currently a dispute.
Consider hiring an accountant
The easiest way to ensure things run smoothly is to hire an accountant. They can get to know your business and put your mind at ease if you have any burning questions or anxieties.
Is there anything else my limited company needs to think about?
There are other things to consider (some mandatory), they include:
VAT returns
If you’re VAT-registered and on the Flat Rate or Standard scheme, you may have a VAT return due around the time of your company year-end. Always ensure your VAT returns are sent off on time and pay HMRC if needed.
Confirmation Statement
A Confirmation Statement allows the director of a limited company to confirm their information with Companies House is up to date. You need to file this within 14 days of its due date (which is normally a year after your incorporation date, although you’ll need to submit one sooner if you have any major changes to report).
You need to submit a Confirmation Statement, even if your company is dormant.
Review how your company operates
It’s a great idea to check your suppliers annually. For example, has the price gone up in the last year? Is the quality of service the same? Could you be getting a better deal elsewhere?
It’s also worth looking at your finances to see if there is anything you can do to be more tax efficient. For instance, by paying money into an ISA or putting more money into your pension. The good news is an accountant can help you with all of this and ensure you’re saving as much money as possible.
Need to speak to an accountant? Call us on 020 3355 4047 or get an instant quote online.
Want to learn more?
Subscribe to our newsletter to get accounting tips like this right to your inbox
