Deadlines and Penalties

Filing returns require preparation which should be a priority for anybody who runs a business. Optimizing tax is a continuous task, when the deadline is close people under pressure tend to make mistakes and often realize that some measures to save tax simply cannot be taken that late. Here are some of the deadlines which should be considered:

Action Deadline
File annual accounts with Companies House 9 months after your company’s financial year ends
Pay Corporation Tax 9 months and 1 day after your company’s financial year ends
File a Company Tax Return 12 months after your company’s financial year ends

Late accounts for Companies House

Companies will have to pay a penalty charge if they file their accounts after the due date.

Time after the deadline Penalty (for private limited companies)
Up to 1 month £150
1 to 3 months £375
3 to 6 months £750
More than 6 months £1,500

Late Company Tax Return to HMRC

Time after the deadline Penalty
1 day late £100
3 months late Another £100
6 months late HMRC will estimate your company’s tax bill and add a penalty of 10% the unpaid tax
12 months late Another 10% of any unpaid tax

If your returns are late 3 times in a row, the £100 penalties are increased to £500 each.

If your Company Tax Return is 6 months late, HMRC will write telling you how much Corporation Tax they think you must pay. This is called a ‘tax determination’. You can’t appeal against it.

You must send Companies House a company annual return every year, within 28 days of the anniversary of the company’s incorporation.

Deadline on Report to Companies House Changes
Within 14 days where you keep your company records
your directors, or their personal details change
company secretaries
Within 15 days constitution or articles of association
Within a month issue more shares in your company
Within 21 days All other changes

Dormant companies still have to file returns unless instructed otherwise.

Directors have to file their Self Assessment with the same deadlines as Sole Traders

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