Now that your limited company is established, you may have several important company dates ahead. If you’re unsure about their significance or what happens if you miss them, don’t worry. In this blog, we will clarify these company dates, discuss the consequences of missing them, and outline how we can assist you. Let’s begin exploring these essential details.

Confirmation statement dates

The confirmation statement is a yearly requirement for all active limited companies, ensuring that Companies House has current and accurate company information.

Here’s how it works with an example:

• You register your company on 01/08/2024.
• The statement date is set as 31/07/2025.
• The review period covers 01/08/2024 to 31/07/2025.
• You must file the confirmation statement no later than 14/08/2025 (the ‘due by’ date).
• The next confirmation date will be 31/07/2026, with a filing deadline of 14/08/2026.

The statement date marks the end of the period your confirmation statement covers, automatically set as the day before your company’s anniversary of incorporation.

For a company’s first confirmation statement, it covers from the incorporation date up to the statement date (the review period). If your company has previously filed a confirmation statement, it will cover from the last statement date up to the next one.

The ‘due by’ date is the deadline by which you must submit the confirmation statement to Companies House, 14 days after the statement date.

You have the option to file an early confirmation statement if needed, such as to report a shareholding change. However, doing so will shift the statement date for your subsequent confirmation statement.

Confirmation statement penalties

Failure to file the confirmation statement by the due date constitutes a breach of the Companies Act 2006, thereby violating the law. Officers of the company could face penalties of up to £5,000 each, and ultimately, the company may be struck off the register.

However, immediate consequences are typically avoided. If you miss the deadline, it’s crucial to take prompt action to prevent expensive fines and potential closure of the company.

Annual account dates

Annual accounts are a mandatory filing requirement consisting of financial information, regardless of whether your company is actively trading. Even if your company has not engaged in any trading activity, you are still required to submit annual accounts to both Companies House and HMRC. For companies that have never traded, you can submit a set of accounts known as dormant company accounts.

The annual accounts must be filed with Companies House by the accounts ‘due by’ date. The first set of accounts should be submitted within 21 months from the date of incorporation. Subsequent annual accounts should be filed within 9 months from the end of the accounting reference date.

Here’s an example to illustrate:

• You register your company on 01/08/2024.
• The accounting reference date (ARD) is set as 31/08/2025.
• You should file the first set of annual accounts no later than 01/05/2026 (the accounts due by date).
• The following accounting reference date is 31/08/2026, and the next accounts due by date would be 31/05/2027.

The accounting reference date (ARD) marks the end of the period that the annual accounts should cover, automatically set as the last day of the month of incorporation.

You have the option to change your company’s accounting reference date; however, this will impact your company’s financial year.

Annual account penalties

Failure to take action and file your annual accounts by the accounts due by date constitutes a breach of the law, and you may be subject to paying a late filing penalty. The amount of the penalty increases based on how overdue the filing is, starting from £150 and potentially rising to £1,500. If you miss the deadline two years in a row, the penalty doubles.

If you choose not to file your annual accounts at all, it can lead to the closure of your company and may even result in criminal prosecution. It is crucial to ensure timely submission of annual accounts to avoid these severe consequences.

Corporation Tax and Company Tax Returns

For companies engaged in trading, understanding Corporation Tax, Company Tax Returns, and their associated deadlines is crucial. Here’s what you need to know:

• UK companies are required to pay Corporation Tax on their profits.
• A Company Tax Return is a document prepared by you that details the amount of Corporation Tax you owe.
• Corporation Tax must be paid before submitting the corresponding Company Tax Return to HMRC.

Key deadlines and requirements include:

• Registering for Corporation Tax with HMRC within 3 months of commencing trade.
• Paying Corporation Tax 9 months and 1 day after the end of your accounting period.
• Preparing and filing a Company Tax Return with HMRC within 12 months of the end of your accounting period.

Ensuring compliance with these obligations is essential to avoid penalties and maintain legal standing for your company.

Corporation Tax and Company Tax Return penalties

The penalty for late payment of Corporation Tax is calculated based on the amount of outstanding tax, also referred to as ‘potential lost revenue’. HMRC allows for consideration of a ‘reasonable excuse’ if you have missed the payment deadline.

If you fail to meet the deadline for filing your Company Tax Return, you will incur an initial penalty of £100. This penalty amount increases based on the length of the delay and the frequency of late submissions. It is important to meet your tax obligations promptly to avoid these penalties and maintain compliance with HMRC regulations.

Important information about your Corporation Tax accounting period

Your accounting period for Corporation Tax starts from the day your company begins trading, which may not necessarily coincide with the date of your company’s formation. This period ends on your accounting reference date.

However, the accounting period cannot exceed 12 months in length. Therefore, if your company starts trading in the same month as its formation, you will need to prepare two Company Tax Returns:

Example:

• You register a company on 01/08/2024.
• You start trading on 01/08/2024.
• Your first accounting period for Corporation Tax begins on 01/08/2024 and ends on 31/07/2025 (this is reported in the first tax return).
• Your second accounting period for Corporation Tax begins on 01/08/2025 and ends on 31/08/2025 (this is reported in the second tax return).
• The subsequent accounting period for Corporation Tax begins on 01/09/2025 and ends on 31/08/2026 (this period is exactly 12 months, so only one tax return will be required).

Understanding these periods is essential for preparing and filing your Company Tax Returns accurately and on time.

Finally, where to view your company dates

If you incorporated your limited company through HopeTex, you can access your confirmation statement and annual account dates conveniently through our free online company manager. For companies not registered with HopeTex, these key dates can be found on the Companies House website.

Regarding your Corporation Tax and Company Tax Returns, you can access certain information through your Government Gateway account. If you haven’t created an account yet, it will be set up when you register for Corporation Tax.

We trust you have found this information useful. If you have any questions, please leave a comment, and we will respond promptly.