Companies House Accounts / HMRC accounts

What this article is about

in this article we will look into companies house accounts and what your responsibilities are as a director with a limited company in getting these filed. We will also explore any responsibilities in regards to HMRC accounts.

Stephen Edwards is the director of Cheltenham Tax Accountants and a Chartered Certified Accountant (and business owner).

Companies House Accounting and Filing Requirements

One of the main reasons having a limited company requires more time effort and resources to run effectively and also stay compliant is due to the responsibilities with companies house. Companies house in the UK oversees all of the limited companies and essentially are the people you need to answer to if you run your own limited company. Some of the main things you can do with companies house are to register a limited company, file annual accounts, file your annual compliance statement and also make any relevant changes to the officers or shareholders in the business.

Do I have to file/submit companies house accounts?

The short answer is yes. However, we also have some good news! Although there is no choice but to file annual accounts to companies house among other things the good news is Cheltenham Tax Accountants can do all of this on your behalf.

We can look after the following responsibilities for you to provide a very hands off service.

• Annual preparation and submission of accounts
• Company formation
• Annual compliance statement preparation and submission
• Creation and maintenance of your PSC register (persons with significant control)
• The use of our address as your registered office to avoid using any personal addresses
• Changes with companies house regarding director and shareholder details

My business is not active, can I file dormant accounts?

If your business has not traded in the period then dormant account can be filed. You may also need to file a corporation tax return to HMRC depending on the status of the company. We can take care of all of this for you in a very efficient manner and as a low-cost option to retain a limited company trading name.

About Companies House

Companies house is part of the government, Specifically the Department of business and skills. It manages the registration and compliance of all limited companies. If you are self-employed then there are no responsibilities with companies house and you have to file your tax return only to HMRC. The key difference with a limited company that is registered at companies house is that there is a public register so anyone can view certain information and documents in regards to your own limited company. You can find out about any limited company from this link.

Discovery Call

Companies House Third Parties

There are many third parties that affectively act as agents for you on your behalf to make your filing requirements directly to companies house. Some of these include companies made simple, Taxcalc, inform direct among others. Also it is typical to appoint an accountant to look after all of your responsibilities with companies house and also HMRC.

HMRC accounts

If you have a limited company then you must submit your accounts as part of your corporation tax return to HMRC. HMRC do not regulate limited companies but do require a set of accounts in a prescribed format to support your corporation tax returns and tax liability. If you are self-employed only then you do not need to submit formal accounts you just need to submit a tax return. It is good practice though to prepare a proper set of accounts to support your tax return in case HMRC were to investigate or inspect your records and also to support any finance application with the bank such as a mortgage for example.

Frequently Asked Questions

Why use an online tax accountant?

Let us be clear, we believe strongly in building longer-term trusting client relationships. Technology is an opportunity to streamline businesses and laborious tasks as well as automating them in some cases.

Our belief is that technology is only there to provide a better and more efficient service (whether that is online or offline) to our clients. We understand that you have a busy life and want to maximise your tax savings without the need for it to be a long and time-consuming process. That’s why we exist!