A micro company is a company that fulfils any two of the following:
- Annual turnover of £632,000 or less
- Balance sheet total is £316,000 or less
- Average number of employees must not be more than 10.
A small company is a company that fulfils any of two of the following:
- Annual turnover of £10.2 million or less
- Balance sheet total is £5.1 million or less.
- Average number of employees must not be more than 50
Yes, you can do so by clicking the document icon under the column ‘View Doc’ next to either your CT600 or accounts. You can also print/download the document once you have paid for the filing.
If your company is an ‘active’ company, you will be obliged to file a Company Tax Return (including annual accounts) to HMRC no later than 12 months after the end of the accounting period. Please note that your corporation tax payment is due to be paid 9 months and a day after the end of the accounting period.
This is a specific 10-digit number that you should have received from HMRC when you incorporated your company. It is the companies own unique number to identify your company for all tax-related purposes. You will need the UTR when you register your business for taxes such as corporation tax, VAT and PAYE and when you file returns and pay corporation tax.
This is treated as an ‘other income’ in your income statement. In the CT600 tax return it should be entered as other income. Furlough payments must also be entered into Box 471. You should show your entitlement in Box 472. HMRC will contact you if you have over claimed.
Your corporation tax payment is due 9 months and a day after the end of your accounting period. You can pay it in the government website here : www.gov.uk/pay-corporation-tax or use internet banking if you have received a notice to pay corporation tax, the details will be on this. You will need your UTR as payment reference.
Yes, you can make changes up to 12 months after tax return filing deadline i.e. 24 months after the end of the accounting period. This can be done online; you will need to click Box 38 in the CT600 (amended return) to yes.
If you are a new customer, you can do this on the Quickstart screen after you have created your account. If you are an existing customer, you can do this by pressing ‘ADD FILINGS’ in the top right-hand corner of the screen and you can toggle the different categories in the ‘Show me’ dropdown list.
You can attach your accounts in your CT600 return, by going into your declaration box and selecting the dropdown in the box ‘91A’ titled ‘Accompanying accounts’. If you are submitting 2 CT600’s, you will only need to attach the accounts to the longer period. In the CT600 for the second, shorter period, you will need to ensure box ‘80’ is switched to ‘No’ and in box ‘90’ select ‘Submitted with another return’.
For HMRC, you will only see the update on the amount of tax due, if any is due. The IR mark you have received via email from us is generated by HMRC as a receipt of your return. You will see the accounts in Companies House, if you have used our service to file to them.
Decimal numbers are not used in accounts – Income Statement or Balance sheet or in your CT600 inputs - all numbers should be rounded to a whole number. This is the convention for all FRS105 & 102 accounting standards.
You are required to submit abridged accounts (balance sheet) to Companies House too. All limited companies must deliver accounts to Companies House. It does not matter whether you were profitable, breaking even, not trading or dormant. You will also need to complete your confirmation statement at least once annually.