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Company Accounts &
Corporation Tax

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Pearls Accountants are unique as you get a personal one to one service and they always answer your queries in a fast and professional manner.

Then i first opened up as a limited company i was clueless, but Pearls Accountant kindly assisted me the best way so i felt at ease and understood how the operation works.

Everything was explained clearly in detail and i could ask as many open questions and they where happy to help.
How bigger team is on board so its quicker response turnaround.

Naila Mughal

Naila Mughal Entertainment

Company Accounts & Corporation Tax

Pearl Accountants are experts in helping contractors, freelancers, and independent consultants operating through limited companies.

We’ll manage your company accounts and corporation tax compliances.

Year-End Company Accounts & Corporation Tax

Pearl Accountants will file all the annual accounts limited companies are required to submit to Companies House and HMRC, including a full CT600 Corporation Tax Return.

All of your accounts will be submitted in the correct format e.g. full accounts or abbreviated accounts. We’ll be fully compliant with your disclosure requirements.

You won’t have to worry about incurring any penalties because Pearl Accountants will make sure you never miss a deadline.

Statuatory / Company Accounts

What are they?

Every company should essentially prepare its Statutory/Company accounts annually. The purpose of doing this would be to produce a simplified breakdown, an account of the financial state that the Limited Company is in that year and how it is performing.

At the end of the company’s financial year these assignments should be completed and submitted to:

  • All Shareholders
  • Companies House
  • HMRC

 

What do Statutory / Company Accounts Involve?

Each statutory account is tailored to a company considering its size,for example:

The 5 types of Limited Companies in the UK:

  • Dormant Company
  • Large Company
  • Medium-Size Company
  • Small Company
  • Micro-Entity

What should be included in a typical Company account:

  • A statement
  • Cashflow statement
  • A balance Sheet
  • Account of profit or loss (Also know as Income)
  • Directors report
  • Account notes
  • Auditors Report
  • and more….
Company accounts are an overview of a business to aid stakeholders in making any required decisions. They are not meant to be extremely detailed or very in-depth – that would not be helpful for the task they are prepared for.

Corporation Tax returns

Every Limited Companies should submit a Company Tax Return (CT600) and Company Statutory Accounts to Customs and the HM Revenue. This should include how Corporation Tax was calculated, including a Profit & Loss Account which is different to your Profit & Loss account for statutory accounts. Asking for advice from a qualified accountant is the best way to help reduce corporation tax for your business. Pearl Accountants have only passionate, qualified Chartered Accountants who are very adept and have many years of experience helping small-medium businesses organize and plan their tax strategies and showing them how to get more effective results.

Deadlines

Private Limited Companies (LTD) have different deadline regulations compared to Public Limited Companies. Both depend on the date of your Company’s accounting reference (also known as the year end date). Once your company is first incorporated, the date of this day is automatically set as the first anniversary of the last day of the month in which you formed the company-this does not change.
If we take a look at an example: if a company is formed on the 2nd of April 2016, then the automatic accounting reference date would be, 31st April 2017. Meaning the next year the year end date would be the same month on the last day of that month.

Deadlines for Private Limited Companies

Company Accounts Deadline
1st Accounts due to Companies House 21 Months from date of Company Formation
Annual Accounts due to Companies House 9 Months from Company’s Financial Year End
Corporation Tax Deadline
File Company Tax Return (CT600) 12 Months from Accounting Period
Pay Corporation Tax) 9 Months and 1 day from ‘accounting period’ for Corporation Tax

Penalties

Statuatory Accounts

Time after the Deadline Penalty
Up to 1 month £150
1 to 3 Months £375
3 to 6 Months £750
More Than 6 Months £1500

 

Corporation Tax Returns

Time after the Deadline Penalty
1 Day £100
3 Months Another £100
6 Months HM Revenue and Customs (HMRC) estimate Corporation
Tax bill and add 10% penalty to unpaid tax
12 Months Another 10% on Unpaid Tax

Included in our Company Tax Services

  • Annual Accounts prepared & Submitted
  • Corporation Tax Return prepared & Submitted
  • Filings with Companies House
  • Filings with HMRC
  • Annual Tax Return Filings
  • Dedicated Accounts Manager

Why Choose Pearl Accountants?

We’ll arrange the transfer of your previous years’ accounts and data from your old accountants and input this into whichever online accounting software you choose. Your team of experts. Being with Fusion means a team of experts has your back, led by your own personal account manager, giving you advice and support whenever you need it. Any time you have a question on tax or accounting, you’ll only need to send an email or give us a call , and real, UK-based person will answer in easy-to-understand English.

Once you have joined pearl Accountants our professional accounting team will transfer data from your old accountants and the last year’s accounts to your chosen online accunting software, ensuring a smooth and stress-free transition into pearl. Our team of experienced accountants will help with any queries you have and give help and support at any time, this can easily be done via email or phone call, you will be answered by a UK-based employee who will efficiently help.

What Help we can offer

Assuming that you are a limited company Pearl Accountants will submit yearly accounts to HMRC and Companies House while also submitting a full CT600 Corporation Tax Return to HMRC. Pearl accountants aid in the submission process and make you’re your accounts are handed in, in the correct format, e.g. full accounts or abbreviated accounts. We will also ensure compliance with your disclosure requirements. No penalties will be experienced since Pearl will ensure no deadlines are missed.

Your own Team of Experts

Pearl Accountants will give you a dedicated team of experts, led by your own personal accounts manager, giving you advice and support whenever you need it.

Moving to Pearl Accountants

Switching to Pearl Accountants is easy.

The transfer of your preceding years’ accounts and all your accounting data is an easy process as this can be input straight into the online accounting software of your choice. Our team of expert accountants will ensure that the transition is a smooth one. A dedicated accountant will also be available to provide you with advice and assess all your accounting needs.

Get in Touch for a FREE Consultation

Get in touch for more information and advice 

Schedule a meeting for a free consultation.

Accountants London
Company Registration No. 07078392