PREPARATION OF FINANCIAL STATEMENTS FOR COMPANIES IN GREAT BRITAIN (UK)

FILLING DEADLINES FOR UK COMPANIES

Financial statements (Statutory Accounts)

1. Where to apply: Companies House
2. Deadlines:

• Regular years – 9 months after the end of the financial year
  
• The first reporting period is up to 21 months from the date of company registration
  

      3. A shortened version of the reporting (without Profit & Loss) is submitted to Companies House.

Corporate Tax Return (CT600)

1. Where to apply: HMRC
2. Submitted within 12 months after the end of the reporting period
   
3. Payment of Corporation Tax: 9 months and 1 day after the end of the reporting period
4. Important: filing a return and paying taxes have different deadlines.
   

Confirmation Statement (CS01)

1. Where to apply: Companies House
2. Deadline: Annually, within 14 days after the review date (date of last CS01 or company registration)
   
3. Financial data is not indicated, but the document is required.
   

VAT-repoerting (for VAT registration)

1. Where to apply: HMRC
2. Deadlines: usually quarterly
3. The declaration must be submitted and VAT paid within 1 month and 7 days after the end of the VAT period
4. Submission is only via Making Tax Digital (MTD).
   

PAYE and employee reporting

1. Where to apply: HMRC
2. Deadlines: RTI reports – every month, before payday
3. Payment of PAYE and NIC: before the 22nd of the next month (for online payments)
   

Annual reporting:

1. P60 — until May 31
2. P11D — until July 6

Dormant Companies (without activity)

1. Reporting is submitted even if the company did not operate:
   
2. Dormant Accounts — 9 months after a year
3. CT600 (zero) — 12 months
4. Confirmation Statement — annually

WHY IS IT IMPORTANT TO MEET DEADLINES?

• Late payments are subject to automatic HMRC penalties and interests
• There is a risk of a strike-off (forced closure of the company).
• There will be problems with banks and payment systems

BASIC CORPORATION TAX RATES

Basic rate: 25% – applies to companies with profits over £250,000.
Low rate for small companies: 19% for companies with profits up to £50,000.
Intermediate Marginal Relief: for companies with profits between £50,000 and £250,000, the effective rate increases gradually from 19% to 25% (to avoid tax spikes).
If a company has associated companies, the profit margin thresholds are divided proportionally between them.

How it works in practice

• For profits up to £50 000 — tax is 19 %.
• For profits above £250 000 — налог 25 %.
• For profit between £50 000 и £250 000 — ставка рассчитывается с учётом Marginal Relief.

Validity period

These rates are effective from 1 April 2023 and will remain in place for the 2025/26 financial year onwards, unless new changes occur.

CONFIRMATION STATEMENT (CS01)

Annual confirmation of company information:

• Registered office – registered address
• Directors & PSC – directors or persons with significant control
• Shareholders – people, who own shares
• SIC-коды – activity codes
• Share capital – authorized capital
• Not a financial document, but required.
  

VAT

It is obligatory to register if turnover is over £90,000. Voluntary registration is allowed too

Reporting:

•  quarterly VAT Returns
  
•  only in digital format (Making Tax Digital)
  

 VAT  schemes

• Standard Rate
• Flat Rate Scheme
• Zero-rated / Exempt supplies

PAYE AND EMPLOYEE REPORTING

If there are employees or the director receives a salary, then PAYE registration, RTI reports (monthly), payment of Income Tax and National Insurance are obligatory

Annual forms:

• P60 — for every employee
• P11D — benefits

AUDIT

An audit is required if turnover exceeds £10.2 million and assets exceed £5.1 million and if the company has 50 employees

Smaull companies  and dormant companies (without activity) are most often exempt from audit.
Even if the company did not conduct operations and had no turnover for the last financial year, it still submits the following  reports:

• Dormant Accounts
• Confirmation Statement
• CT600 (zero)

PENALTIES FOR  LATE FILLING:

If the CT600 is not filed on time (no later than 12 months after the end of the reporting period), HMRC will impose the following penalties:

• 1 day after the deadline – £100 fixed fine.
  
• 3 months after the due date – another £100 (total £200).
  
• 6 months after the due date – 10% of the amount of Corporation Tax you should have paid (or of the tax debt if it remains unpaid).
  
• 12 months after the due date – another 10% of the unpaid tax (in the amount of up to 20% with a period of 12 months in case of serious delay).

If a company does not have Corporation Tax due (for example, due to zero profits), then the 6 and 12 month interest penalties usually do not apply – only fixed penalties remain.

TIGTENING IN CASE OF REPEATED VIOLATIONS

If a company submits CT600 late thrice, the fixed penalties increase:

• instead of £100 — £500 for missing adeadline,
• instead of £100 — £1,000 with a second delay of 3 months .

IMPORTANT DETAILS:

HMRC may also assess your tax themselves and issue a tax claim if your return is not filed after 6 months of tax determination.
You can challenge the fine if there is a good reason for the delay, but first you need to submit the declaration itself.

NEW HMRC REQUIREMENTS: ACCESS TO TAXES ONLY THROUGH PROFESSIONAL INTERMEDIARES

In the UK, changes to the approach to who and how can interact with HMRC on behalf of clients are being discussed and introduced, and these changes relate to the professional status of tax advisers and accountants.But this is not about banning accounting firms from working with taxes in principle, but about who exactly has the right to officially interact with HMRC and gain access to information about clients’ taxes.

MAIN CHANGES IN THE UK

HMRC wants to regulate access to tax advisers

The British tax office, His Majesty’s Revenue and Customs (HMRC), has proposed legislation (included in Finance Bill 2025/26) according to which:
1. only registered tax advisers will be able to formally interact with HMRC on behalf of clients – this includes filing returns, appeals, correspondence, telephone communications or through online portals. Until such registration, withholding agents are considered ineffective for the purposes of dealing with HMRC. This means that unless an accountant or consultant is registered as a tax agent, they will not be able to formally represent the client to HMRC or use HMRC systems to access taxpayer data.
2. Possibly requiring membership of a professional body The government is considering:

• tax advisers who interact with HMRC are not only registered, but also members of recognized professional bodies (for example, ICAEW, ACCA, etc.);
• such organizations would monitor the quality, professional standards and ethics of these consultants. The goal is to improve service quality, reduce errors and fraud, and provide taxpayer confidence in the competence of those handling their taxes.

3. Control over access to taxpayer data

• HMRC already requires tax agents to register in order for them to access HMRC’s online services and clients’ tax status data through a formal authorization process. If an agent does not meet the standards, HMRC may refuse access to these services. This essentially means that unregistered individuals or firms cannot officially receive HMRC data on a client’s taxes; HMRC controls who is eligible and through what mechanisms information is accessed.
• This does not mean that accounting firms will completely lose the right to “keep the tax records” of their clients. They can still provide tax advice, calculate taxes, prepare reports within their firm, and help clients understand tax obligations.
• This does not automatically mean HMRC has access to bank accounts through intermediaries. In the UK, access to Inland Revenue banking information is linked to international standards (CRS) and data security – but there is no separate mechanism for accounting firms to manage clients’ banking information and pass it on to HMRC.

MAIN ESSENCE OF THE REFORMS

HMRC is committed to ensuring that only professionally registered tax advisers who:

• registered with HMRC as tax agents;
• comply with the standards of professional organizations;
• are controlled and monitored (confirmation of competence and compliance with ethical standards is required).

It is important for:

⦁ improving the quality of tax services;
⦁ reducing the number of errors and fraud;
⦁ confidence of clients that their data and affairs are managed by a qualified specialist.

Important  details вconnected with  suggested changes:

• HMRC should only be accessed through registered tax agents.
• Accounting companies do not lose the right to work with taxes.
• There is also no complete ban on the work of those who are not registered.
• Tax accounting can be maintained within the company.
• There is no obligatory centralized “tax administration” only through intermediaries

PREPARATION AND SUBMISSION OF REPORTS FOR COMPANIES IN THE UK – TURNKEY

Don’t risk fines and bans. We take care of all reporting for UK companies so that you can conduct your business with peace of mind and comply with HMRC and Companies House requirements

What we do for you

Accounting

• Full or partial support
• Accounting for transactions, bank statements, contracts
• Working with companies without activity (Dormant)

Financial statements (Statutory Accounts)

• Preparation of financial statements according to UK GAAP / IFRS
• Submission to Companies House and HMRC
• Short and full versions – strictly in accordance with the requirements of the law

Corporate tax (CT600)

• submitting a declaration
• Control of payment deadlines

Confirmation Statement

• Checking and updating company data
• Timely submission of CS01
• Control of shareholder structure and PSC

VAT (НДС)

• Registration by VAT
• Quarterly VAT Returns
• Work using the Making Tax Digital system
• Consultations on choosing a VAT scheme

PAYE and employees

• PAYE registration
• Salaries of the director and staff
  
• RTI, P60, P11D
• National Insurance and Income Tax

We work with non-residents

• Directors and shareholders are not UK residents
• International business and holding structures
• Online support and clear communication

Why is it important to apply now?

• Delays entail fines and penalties
• Repeated violations may result in a strike-off risk
• Banks require up-to-date reporting
• We control deadlines, submit reports on time and take responsibility.
  

Contact us and you will get:

• checking the current status of the company
• calculation of the cost of services
• clear action plan