Running a limited company comes with real responsibilities — and missing a deadline with HMRC or Companies House can mean automatic penalties.
Statutory Accounts
Every limited company must prepare annual statutory accounts regardless of size. These must be filed with both Companies House (within 9 months of your year-end) and HMRC alongside your corporation tax return (within 12 months of your year-end).
Statutory accounts include a balance sheet, a profit and loss account, and notes. Micro-companies can file abbreviated accounts.
Corporation Tax
Limited companies pay corporation tax on their profits. The main rate is currently 25% (for profits over £250,000), with a small profits rate of 19% (for profits under £50,000). Marginal relief applies in between.
Your corporation tax return (CT600) is due 12 months after your accounting year-end, but the tax itself must be paid within 9 months and one day of the year-end.
Payroll and Directors' Salaries
Most director-shareholders pay themselves a low salary (typically at the NI secondary threshold) and top up with dividends — this is often the most tax-efficient structure. But it needs to be done correctly, with proper payroll records filed with HMRC via RTI (Real Time Information).
Confirmation Statement
Separate from accounts, every company must file an annual confirmation statement (CS01) with Companies House confirming the company's registered details are up to date. The deadline is 14 days after the anniversary of incorporation.
VAT
If your turnover exceeds £90,000 (2024/25 threshold), VAT registration is mandatory. Below that threshold it is optional — but can be beneficial if you have significant input VAT to reclaim.
How We Help
At Zenus Accounting, we handle your full compliance burden: year-end accounts, CT600, payroll, confirmation statement and VAT returns. Fixed monthly fee. No surprises.