How do I file my company accounts?

All companies must file their accounts online with HM Revenue and Customs (HMRC). The accounts must be submitted alongside the CT600 (Company Tax Return) and Corporation Tax computations (your tax calculations).

Accounts must also be filed with Companies House either online or via the post (online filing is not yet compulsory).

There is an option to file jointly via the HMRC website.

Smaller companies have the option to file abbreviated or micro entity accounts (shorter or simpler accounts).

A set of accounts will usually consist of:

• profit and loss account (income statement)
• balance sheet (statement of financial position)
• notes
• director’s report.

Profit and loss account (income statement)

This example of a profit and loss account shows the results for a financial year and we also have the previous year’s comparatives.

Balance sheet  (statement of financial position)

The example balance sheet shows the financial position at the year end date along with the financial position at the previous year end date.

Notes

Statutory notes are used to further explain and breakdown figures in the financial statements (profit and loss account and balance sheet).The notes will vary depending on the circumstances of the company, except for accounting policies which is a mandatory note.

Director’s report

The director’s report will contain:

• the principle activity of the business
• names of the directors, including new appointments and resignations during the year
• details of any political and charitable donations
• polices on employees – for example disabled.

It will be dated and signed by one of the directors.

You can prepare and file your own company accounts. However, unless you feel completely confident in completing the accounts yourself, then it may be advisable to employ the services of an accountant. 

When looking for an accountant always remember to check:

• if they have professional indemnity insurance
• how many of the staff are members of the Chartered (ICAEW) or Certified (ACCA) professional bodies.

They should also provide you with:

• a direct contact telephone number
• an email address
• a postal address.

There are different deadlines for filing the company accounts:

1. The corporation tax return (including accounts) must be submitted to HMRC within 12 months after the accounting period end to which it relates.
2. The accounts must be submitted to Companies House within nine months after the accounting period end.

For example – a company with a year end 31 December 2023 must file the return (including accounts) with HMRC by 31 December 2024 and file the accounts with Companies House by 30 September 2024.

1. HMRC – companies must register with HMRC to file online and obtain a user ID and password. To register for HMRC Taxes click here.

2. Companies House – to file online companies must obtain an authentication code from Companies House (this is completely different to the one from HMRC). To register for Companies House WebFiling click here.

Alternatively, the accounts can be posted to Companies House. For contact details click here.

Use our Corporation Tax Calculator to find out how much you will owe for the current tax year.

Late filing penalties from HMRC are:

• less than three months late – £100
• over three months late – £200
• over 12 months late – 20% of the tax due.