Year-End Accounts
What Are Year-End Accounts
Year-end accounts provide a snapshot of your business’s financial performance and position for the year. These accounts are necessary for tax purposes and to meet legal obligations with HMRC and Companies House. They detail your company’s profit, loss, and balance sheet.
Essential for Ltd Companies:
All limited companies must prepare and submit year-end accounts, regardless of size or profit.
Filing Deadline:
Your year-end accounts must be filed with HMRC within 9 months of your company’s year-end.
Compliance Requirement:
Year-end accounts ensure your business complies with UK tax and company law.
Potential Penalties:
Failing to file on time can result in penalties and fines from both HMRC and Companies House.