When Are Limited Company Accounts Due?

Did you know that in the year ending March 2024, 11,463 private companies were penalised by Companies House for filing their accounts more than six months late? With so many companies falling behind, it’s more important than ever to know exactly when your limited company accounts are due and submit them well before the deadline. 

We’ll walk you through when your limited company accounts must be filed, what the deadlines mean, and how to keep your business compliant.

What Are Limited Company Accounts?

Your limited company accounts are the formal record of your company’s financial activity during the year. They summarise your income, spending, profits and assets. In other words, they show how your company has performed financially.

Every registered company in the UK must prepare annual accounts and submit them to Companies House. If your company is trading, the same information is used to complete your Corporation Tax return for HMRC.

These accounts provide transparency for your company and help maintain trust with HMRC, investors, lenders and the general public.

When Are Limited Company Accounts Due for the First Time?

When you first form a company, your first limited company accounts will usually cover a period of more than twelve months. This is because Companies House automatically sets your accounting reference date (ARD) as the last day of the month in which your company was incorporated.

For instance, if your business was incorporated on 10 June 2024, your first accounting period will end on 30 June 2025. This means your first set of accounts covers twelve months and twenty days. You must file your first accounts within twenty-one months of the date your company was incorporated.

This longer filing window only applies for the first year. After that, the filing period becomes shorter. If you are not sure when your first accounts are due, you can find your exact date by searching for your company name on the Companies House register.

When Are Limited Company Accounts Due After the First Year?

After you have filed your first accounts, the rules change slightly. For every following year, you must file your limited company accounts within nine months of your company’s accounting year end.

Your year end, known as your Accounting Reference Date, remains the same each year unless you apply to change it. For example, if your company’s year end is 31 March, you must file your accounts by 31 December. If your year end is 30 September, the filing deadline will be 30 June of the following year.

Some businesses prefer to align their financial year with the tax year, which runs from 6 April to 5 April. If you want to change your year end, you can apply online through Companies House, though there are limits to how many times and how far you can extend it.

When Is the Corporation Tax Deadline?

Your Corporation Tax deadlines are separate from your Companies House filing dates. You must register for Corporation Tax within three months of starting to trade. You then need to pay your Corporation Tax within nine months and one day after the end of your accounting period, and file your Company Tax Return within twelve months of the period end.

Because these dates are separate from your limited company accounts deadlines, many directors find it confusing. Your accounting period for HMRC may differ slightly from your Companies House year end, especially in your first year.

If your first accounting period lasts longer than twelve months, you may have to file two separate tax returns with HMRC. One covers the first twelve months and another covers the remaining period.

If you would rather have an expert manage your Corporation Tax deadlines and filings, our personal tax and compliance services can handle everything for you.

Example: How to Work Out Your Filing Deadlines

Imagine you set up your company on 15 April 2024. Your first accounting reference date will be 30 April 2025. You must therefore file your first limited company accounts by 15 January 2026, which is twenty-one months after incorporation.

For your second year, your accounts will be due nine months after your next year end, which means they will need to be filed by 31 January 2027. Your Corporation Tax payment and Company Tax Return will have their own deadlines based on your accounting period for HMRC.

This example highlights how the first year gives you a longer window to file, but after that, the timeframe becomes shorter.

Penalties for Missing the Deadline

Missing your limited company accounts deadline will automatically result in a penalty from Companies House. The longer you delay, the more expensive it becomes. If your accounts are up to one month late, the penalty is £150. Between one and three months late, it increases to £375. If you are three to six months late, it rises to £750. If your accounts are more than six months overdue, you will be fined £1,500.

If you file late two years in a row, the fine is doubled.

HMRC applies separate penalties for late Corporation Tax filings or payments. If your Company Tax Return is late, the first fine is £100. After three months, another £100 is added. Continued delays can lead to even larger penalties and interest charges on any unpaid tax.

Late filing also affects your company’s reputation, as anyone checking the Companies House record can see missed deadlines. If filings remain overdue, your company could even be removed from the register.

To avoid all of this, our bookkeeping service can manage your records and submissions, keeping everything filed correctly and on time.

Can You File Limited Company Accounts Early?

Yes, you can file your limited company accounts early once your accounting year has ended. Many business owners prefer to do this so they can relax knowing everything is complete well before the deadline.

Filing early also makes it easier if you plan to apply for finance, as lenders often want to see your most recent accounts before approving credit. The only restriction is that you cannot file before your financial year officially ends. You can, however, prepare everything in advance to make the process smoother.

What About Dormant Limited Companies?

Even if your company has not traded, you must still file limited company accounts with Companies House each year. These are called dormant accounts and simply confirm that your business is still registered but not trading.

You will not need to submit a Corporation Tax return unless HMRC specifically asks for one, but you still need to meet your Companies House filing deadline.

If you no longer need the company, our company closure service can help you close it properly and avoid ongoing filing obligations.

How to Check Your Company Deadlines

You can view your company’s filing deadlines by searching your business name on the Companies House register. This shows when your next accounts and confirmation statement are due and highlights any overdue filings.

It is also possible to set up email reminders through your Companies House account. Many businesses choose to let their accountant track deadlines on their behalf.

Clients of Prosper Accountancy can use their BoardView meetings to stay on top of every filing and payment date throughout the year.

Stay on Top of Your Limited Company Accounts

In conclusion, keeping up with your limited company accounts is one of the most important parts of running a business in the UK. You must file your annual accounts with Companies House and meet your Corporation Tax deadlines with HMRC. Missing these dates can lead to fines, extra interest and possible removal from the register.

When you understand your deadlines and plan ahead, the process becomes much easier. Preparing early and maintaining accurate records helps your business stay compliant and gives you peace of mind.

If you want professional help managing your limited company accounts, contact Prosper Accountancy today. Our friendly team can prepare, review and file your accounts, helping you meet every deadline with confidence.