Year-end accounts
Statutory accounts prepared from your records, ready for the directors to approve and file at Companies House.
- Balance sheet, profit and loss and notes
- Micro-entity or small company options checked
- Filing with your authority
For directors of UK limited companies
Limited Company AccountantsAccounts, tax and director pay together.
Find an accountant for a limited company who can prepare your year-end accounts, file the Company Tax Return and help you plan how directors are paid. The Business Review Co. introduces you to an independent accountant, so you can compare the scope and fees before you decide.
Free initial review · No obligation · Find better-value limited company accountants
Your company year
Your company year
Every filing. One timetable.
- Year-end accounts
- Prepared, approved & filed
- Corporation Tax
- Return, computation & payment date
- Director pay
- Salary, dividends & records
The Business Review Co. helps you find a provider. Your provider agrees and carries out the work.
Support, at the right level
Limited company accountants. What the work covers.
Most companies need the same core jobs each year, plus help with how money leaves the company. An independent accountant can take on all of it, or only the parts you would rather not do yourself.
Corporation Tax
The tax computation and Company Tax Return, worked out from the accounts and sent to HMRC.
- CT600 return and computations
- Amount and date to pay
- Agent authority with HMRC
Directors & company records
Help with director pay, dividend paperwork and the yearly confirmation statement.
- Director salary through payroll
- Dividend minutes and vouchers
- Confirmation statement filing
Bookkeeping, VAT returns, payroll and directors’ personal tax returns are often priced separately. Ask which are included before you compare quotes.
Review the cost. Understand the value.
Limited company accountants: what should the fee cover?
Two monthly fees can look alike and cover very different work. Compare the filings, the advice and the help with your own tax return before you compare the price.
Review my support & costsFree initial review. Any saving depends on your current fees and the service you choose.
- Filings & deadlines
- Does the fee include the accounts, the Company Tax Return and the confirmation statement, and who tracks each date?
- Director pay & personal tax
- Is advice on salary and dividends included, and is your own Self Assessment return part of the package or extra?
- Records & software
- Who keeps the books during the year, which software is used and who pays the subscription?
The company year
A limited company’s year. What is due and when.
A company’s deadlines run from its own financial year end, so two companies can work to very different calendars. These are the main dates a private limited company works to, and what an accountant usually does for each one.
Through the year: the records.
A company must keep records of the money it receives and spends, the assets it owns, the debts it owes or is owed and its stock at the year end, with the receipts, invoices and bank statements behind them. Records are generally kept for 6 years from the end of the financial year they relate to. Some directors keep the books themselves. Others ask their accountant or a bookkeeper to keep them up to date each month.
9 months after the year end: accounts at Companies House.
Statutory accounts are a balance sheet, a profit and loss account and notes, prepared under UK accounting standards or international standards. The directors approve them and a director signs the balance sheet. A company’s first accounts are due 21 months after it registers. Late accounts bring an automatic penalty from Companies House, and the directors are personally responsible for delivering them on time.
9 months and 1 day after the period ends: Corporation Tax.
Corporation Tax is usually payable before the return is filed. A company with profits of £50,000 or less pays the small profits rate of 19%. Profits over £250,000 pay the main rate, and Marginal Relief may apply in between. Your accountant works out the taxable profit, which is different from the profit in the accounts, and tells you what to pay.
12 months after the period ends: the Company Tax Return.
The CT600 return and its computations are filed online. A return is still needed if the company makes a loss or has no tax to pay, and a £200 penalty applies as soon as it is a day late. A private limited company that does not need an audit may be able to file its accounts and Company Tax Return together using suitable software.
Every 12 months: the confirmation statement.
Every company, including a dormant one, files a confirmation statement at least once every 12 months to confirm the details Companies House holds. It is due even if nothing has changed, and it can be filed up to 14 days after the review period ends. Many accountants file it for you or send a reminder.
To file for you, an accountant will usually ask for the company’s Companies House authentication code and for agent authority with HMRC. Ask how that access is removed if you move on. The Business Review Co. can introduce you to an independent accountant who can explain which of these dates they would manage.
Paying yourself
Director’s salary and dividends. Getting the paperwork right.
Directors usually take money out of a company in more than one way. Each route has its own tax treatment and its own records, and this is where many directors find an accountant most useful.
Salary through payroll.
If the company pays a salary to a director, including a sole director, it registers as an employer and runs payroll. Income Tax and National Insurance are deducted and paid to HMRC, along with employer’s National Insurance. Payroll records are kept for 3 years from the end of the tax year they relate to.
Dividends from profits.
A dividend can only be paid from available profits from the current and previous financial years. The directors hold a meeting to declare it and keep minutes, even if there is only one director, and a dividend voucher is written for each payment. The company pays no tax on dividends, but shareholders may pay Income Tax if their dividends are over £500.
Expenses, benefits and directors’ loans.
The company can pay expenses or provide benefits, and personal use of something the business owns is reported as a benefit. If you take out more than you have put in and it is not salary or a dividend, it is a directors’ loan, and the company must keep a record of it. The tax rules on directors’ loans are detailed, so speak to your accountant first.
Your own tax return.
Untaxed income such as dividends may mean a director needs to send a Self Assessment return. Some accountants include directors’ returns in a company package. Others charge for each one.
The right mix of salary and dividends depends on the company’s profits and your wider income, so treat any rule of thumb with care. An independent accountant can look at your own figures and explain the options before the year end.
Choosing a provider
Choosing an accountant for a limited company. What to check.
Fees, scope and service vary a lot between firms. A short list of questions makes quotes easier to compare and helps you avoid paying twice for the same work.
Questions worth asking any firm:
- Who supervises them? Firms that provide accountancy services must be supervised for anti-money laundering by a professional body or by HMRC.
- What size of company do they usually work with? A firm used to one-director companies may work differently from one used to companies with staff, VAT and several shareholders.
- Is the year-end work in the fee? Ask whether the accounts and Company Tax Return are covered by the monthly fee or billed once the year ends.
- How is advice charged? Questions about director pay, a large purchase or a new contract may be included, capped or charged by the hour.
- How does a change of accountant work? A new accountant usually asks the old one for information. Agree who requests it and when the handover takes place.
Tell The Business Review Co. about your company, what you have now and what you would like to change. We can explore an introduction to an independent accountant who works with limited companies like yours.
How it works
A simple start. A clear agreement.
Start with a free initial review. You choose whether to go ahead after discussing the service and fees with an independent provider.
- 01
Tell us about your company
Share your year end, what you need help with and whether you have an accountant now. No accounts or records are needed.
- 02
Explore an introduction
We review your enquiry and agree any introduction with you. An independent accountant can then discuss your company and the work involved.
- 03
Agree the scope & fees
Ask for a written engagement letter listing each filing, the advice included and the fee before work starts.
The Business Review Co. is an introduction service. Work is carried out by an independent provider and paid for separately. We may receive an introduction fee. How we are paid.
Guides
Guides to business accounting
- keeping accounting records
What bookkeeping involves for a UK limited company, the records the law expects, how long to keep them and who can do it.
- how to prepare company accounts
What a UK limited company's annual accounts contain, who signs them, the filing deadlines and what happens if they are late.
- Company Tax Return deadline
Who files a Company Tax Return with HMRC, filing it with software or on paper, how to read the CT600, deadlines, late penalties, appeals and amendments.
- Companies House accounts deadline
How a UK company files accounts at Companies House: filing routes, normal deadlines, first accounts, extra time and what late filing may mean.
- VAT return deadline
When VAT returns and payments are due, how annual accounting changes the date, ways to pay HMRC, refunds and what happens if a deadline is missed.
- the difference between a bookkeeper and an accountant
The practical difference between a bookkeeper and an accountant for a UK limited company, where the roles overlap and what to check.
Your questions
Limited company accountants: your questions answered.
The scope, fees and responsibilities to discuss when choosing your provider.
How much do accountants cost for a small limited company?
Most accountants charge a fixed monthly fee, a fixed annual fee for the year-end accounts and Company Tax Return, or an hourly rate for extra advice. The price usually depends on your turnover and number of transactions, the state of your records, whether VAT and payroll are included, how many directors need a personal tax return and how much advice you want. Ask for a written breakdown before you compare.
Can I do my own accounting for a limited company?
Yes. The rules do not require a company to use an accountant, and directors can prepare the accounts and Company Tax Return themselves. The directors stay responsible for the records and the deadlines either way. Many choose help because the accounts, the Corporation Tax computation and the filings with Companies House and HMRC all have to agree with each other.
Do directors have to complete a Self Assessment tax return?
Not always. Tax on a salary paid through payroll is usually deducted automatically. Other income, such as dividends, may mean a director needs to send a Self Assessment return, so check your own circumstances. An accountant can tell you whether you need one and either include it in their fee or quote for it separately.
Is it better to take a salary or dividends?
It depends on the company’s profits and your other income. A salary goes through payroll with Income Tax and National Insurance deducted. Dividends can only come from available profits and may bring Income Tax for the shareholder. Many directors use a mix of the two. Because the answer changes with the figures, ask an accountant to look at your own position.
Does a limited company need an accountant?
A company does not have to use one. It can prepare its own accounts and Company Tax Return, although the directors stay responsible for the records, the filings and the deadlines either way. Many directors use an accountant for a limited company because the accounts go to Companies House and the return goes to HMRC, each with its own deadline. A provider can explain which tasks would be worth handing over.
For official guidance, see GOV.UK: accounts and tax returns for private limited companies.
Let’s make a start
Let’s find the right accountant for your company.
Tell us your year end, what you need help with and what you pay now. We’ll reply about the next step.
For UK limited companies and LLPs.
Free initial review · No obligation · No documents needed
Looking at the bigger picture?