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Submission dates for Year End Accounts and Corporation Tax

Short Answer

9 months after your company year end or if it is year 1 then 9 months after your incorporation date

Companies House & HMRC deadlines

At the end of your Limited company’s year there are two important submissions:

  1. The submission of accounts to Companies House; and
  2. The submission of the company tax return to HMRC

Companies House requires the accounts to be submitted 9 months after the company year end. So if the company year end is 31 December 2015 the accounts need to be submitted by 30 September 2016. There are exceptions if you change your year end or if this are the first year accounts (see below).

The date a company pays Corporation Tax to HMRC is very similar, it is 9 months and 1 day. So if you have a 31 December 2015 company year end your corporation tax payment will fall due on 1 October 2015.

Bizarrely the date of submission for the corporation tax return is actually 12 months after the year end. So with a 31 December 2015 year end the tax return is due on 31 December 2016. So what this means is that you have to pay the tax before you have to work out how much you owe! We recommend you forget this and work to 9 months.

At Caprica Online we always aim to prepare accounts within 3 months of the year end. We don’t like last minute rushes, they bring unnecessary stress and it’s always easier to remember what a transaction is a few months after it happened rather than the best part of a year later.

First year accounts

First year accounts are slightly different.

The deadline is 21 months after the incorporation date. This is the date the company was created. So if your company was incorporated on 9 December 2014, the accounts will fall due on 9 September 2016, even though the company year end is still 31 December 2014.

First year tax return

Since most first year accounting periods are more than 365 days, two tax returns are often needed because HMRC does not allow a corporation tax return to cover a period of greater than 365 days.

So taking the 9 December 2014 incorporation date one return will be needed to cover 9 December 2014 to 8 December 2015 and then a second return to cover from 9 December 2015 to 31 December 2015.

The deadlines follow the end of the earlier period.

Fines for late submission to Companies House

If you are late submitting year end accounts the fines from Companies House are as follows:

How late? Penalty
No more than one month £150
No more than three months £375
No more than six months £750
More than six months £1,500

* Please note this information is correct as at September 2015.

Fines for late submission to HMRC

If you are late paying the Corporation Tax HMRC will merely charge interest on the tax due. This is not normally a big cost for most small businesses, particularly when interest rates are as low as they are.

If you are late submitting the return however:

How late? Penalty
No more than one month £100
No more than six months £200
No more than twelve months £200 + 10% of tax due
More than twelve months £200 + 20% of tax due

* Please note this information is correct as at September 2015.