Every UK new company needs to be aware of what reports have to be submitted to governmental bodies after they set up the company. The most important is to submit your Annual Accounts (also known as Year-End, Statutory or Company Accounts ) to the Companies House and your Tax Return to the HMRC. These accounts include your year-end accounting data with income statements, balance sheet and directors report. 

 

Your company may be dormant, which means that you did not trade at all for the last year. If your company is trading then you need to submit accounts not only to the Companies House but also for the HMRC with the tax return. The filing deadline for all new companies for annual accounts is 9 months and for the tax return, it is 12 months after their first accounting period ends. 

 

Persona Finance Ltd strongly advises submitting to both: the HMRC and Companies House simultaneously to make sure that everything is correct and you are fully compliant. With our online professional services, the accounting filing will be done simultaneously to both governmental organisations. 

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You might wonder what the difference is between first-year accounting and later stage unless you change your accounting period. It is mainly with the filing of annual tax returns if the company is incorporated on any day other than the first or last day of the month it will be the following. For example, if the company is registered on the 9th of November their first accounting period will be up until the 30th of November next year. The HMRC does not allow you to prepare the tax return for more than 365 days therefore you will have to submit 2 tax returns. One is for the whole year from the start of the period (from 9th to 8th of November) and second will be from 9th to 30th of November.

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The cost for our online accounting services starts from £100 and moves purely depending on the number of your transactions. Persona Finance Ltd cares about the growth of our clients’ businesses and we are providing the Packages with all services needed and year support from our professional advisors.

 

• Vast Experience in various industries (Food & Beverage, Fashion, Logistics,

       Taxi Business, Service Providers, Retail, Health and others)

• Fees for reports from £100 + VAT

• Fees for Packages from £40 + VAT per month

• Reports are done within 1-2 workings days

• Free First Consultation or Advice on your Business