Company Accounts Inland Revenue Companies House

Company Accounts Inland Revenue Companies HouseAll limited companies must also file accounts at Companies House. These accounts must comply in form and substance with the provisions of the Companies Act. Company accounts must be submitted to the Inland Revenue and Companies House 9 months after the financial year end. Failure to submit company accounts will lead to fines, penalties and interest on late tax. It may also lead to criminal prosecution by Companies House.

Company Accounts – Legal Reporting Requirements

Company accounts are typically 12/15 pages long. Depending on the size of the business, there is a legal requirement for the company accounts to disclose certain information.

Company accounts are prepared based on historical cost convention utilizing accruals and prepayments. Assets are also treated differently with allowances possibly more favorable in the 1st year.

The Tax is calculated differently and therefore it is essential to have a strong working knowledge of what is tax deductible and what is not.

Company Accounts Preparation

We will prepare your company accounts to the standard required for submission to the Inland Revenue and Companies House.