What are the rules?
At the end of each year, as a limited company you are required to submit an abridged set of accounts to Companies House. You must also submit a CT600 and set of statutory accounts to HMRC.
The accounts for HMRC are required to have an income statement (profit and loss) and a balance sheet. Companies House just require a balance sheet, balance sheet notes and statutory declaration.
The accounts submitted to Companies House are visible on the company register. You can search for your company on the Companies House website and check your companies filing history and other details.
You have 9 months from the end of you accounting period to file your Company accounts to Companies House.
You have 12 months to file your CT600 and accounts to HMRC. However, any corporation tax that is due, must be paid to HMRC by 9 months and a day after the end of you accounting period.
If this is your first year of trading, please see our guidance on what you need to do at the end of your First Year, to help you prepare in advance and avoid any late filing penalties.
Penalties for late filing to Companies House
If you are late filing your annual accounts to Companies House, then the following penalties will be applied:
| Up to 1 month | £150 |
| Up to 1 - 3 months | £375 |
| Up to 3 - 6 months | £750 |
| More than 6 months | £1,500 |
Penalties will be doubled if you file your accounts late 2 years in a row.
You will automatically receive a penalty notice if you file after your filing deadline. Your company maybe struck of the Companies House register if you do not file your accounts or confirmation statement.
If you have have a good reason for filing late you can appeal your penalty in writing.
Penalties for filing late to HMRC
If you are also late filing your CT600 and accounts to HMRC, you will also receive penalties from them in addition to the penalties from Companies House. The penalties for late filing to HMRC are as follows:
| 1 day | £100 |
| 3 months | Another £100 |
| 6 months | HMRC will estimate your Corporation tax bill and add a 10% penalty |
| More than 6 months | Another 10% of any unpaid tax |
If your tax return is late 3 times in a row, then the £100 fines are increased to £500.
If you still haven't filed your tax return after 6 months, HMRC will write to you telling you how much tax they think you should pay. This is called tax determination. You cannot appeal this notice.
Filing late to both HMRC and Companies House, even by just a day can result in your company receiving penalty notice of £250. See our other knowledged based articles, to help you avoid any penalties.
