Accounting support
in England

All companies registered in the UK are required to prepare and submit financial statements to HMRC and Companies House

How can we be useful to you?

Preparation of the annual report

We will help you prepare a report based on your primary documents in a timely manner.

Filing a Tax Return

We will complete and submit your company’s Tax Return. We will take control of the deadlines for submission and communication with the tax authorities.

Consulting

We will help you pay taxes and represent your interests before the English tax authorities

Reporting conditions in England

Reporting period of England companies

12 months from the date of registration

Frequency of reporting

Annually

Reporting deadline

9 months from the end of the reporting period

Cost of preparing reports and audits

from 500 euros*

* The cost of the service depends on the nature of the business and the volume of transactions on the company’s accounts. The cost can be adjusted after the initial consultation

Features of reporting
and audit in England

Features of
reporting
and audit
in England

England

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The financial statements are filed with Companies House and the tax return with HMRC. A company may file both reports together if it is an LTD (limited liability) company and does not require an audit.

In England, not all companies are required to be audited. Companies that meet the following criteria are exempted from an audit:

– are classified as “small”

– have a turnover of no more than £6.5 million


– have a balance sheet result of no more than £3.26 million.

The company must conduct an audit if at least 10% of its founders have made such a decision.

The procedure of reporting in England

The procedure of
reporting in England

Collection of documentation

– Incoming and outgoing invoices or unloading of sales on the marketplace;

– Statements of all company accounts for the reporting period;

– Description of activities – sales channels, information on the movement of goods from seller to buyer, product category.

Preparing and submitting reports

– Processing of incoming information;

– Drafting and approving the draft with the client;

– Sending reports to the tax authorities of the respective country;

– Control of tax payments;

– Resolving difficulties and disputes (if any).

To start cooperation, please contact us in any convenient way:

Group 181

leave a request

Group 179

or call the number

The initial legal consultation is free of charge and does not oblige you to do anything.

Information help

All companies, including partnerships, are required to prepare and submit accounts to England. At the same time, small and dormant companies are exempt from audit.

The first reporting period can be from 1 to 21 months from the date of company registration. Accounting must be kept from the date of registration of the company with the tax authorities.

Yes, the reporting procedure in England is structured in such a way that any business can submit reports independently. We recommend learning more about how to do this on official resources: Basic Principles and Legislation: https://www.gov.uk/first-company-accounts-and-return Information on submitting a report: https://www.gov. uk/prepare-file-annual-accounts-for-limited-company

Even if a company has not conducted any activity and has no accounts, it is obliged to submit an annual report to the state authorities on the Dormant accounts procedure. The procedure for preparing such a report is much simpler, but the liability for late submission is the same as for operating companies. Even if the tax return is zero, a company in England must still report to HMRC.

Failure to submit reports on time will result in fines from Companies House:

– if the report is submitted with a delay of up to 1 month – £150.

– if the report is submitted with a delay of 1 month to 3 months – £375;

– if the report is submitted with a delay of 3 to 6 months – 750 pounds sterling;

– if the report was submitted with a delay of more than 6 months – £1500.

* The penalty is doubled if the reports were submitted late for 2 consecutive years.

** Late returns may also result in tax penalties (HMRC), with a minimum penalty of £185

Get a free accounting
consultation
from our specialist

“A tax return cannot cover a period of more than 12 months. And if the first reporting period for the company is more than a year, the company will have to submit 1 report, but 2 tax returns”

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Kateryna

Accountant

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