Year End Procedures
Every limited company in the UK is required to file accounts with the Registrar at Companies House. Accounts are usually made up to the business’s accounting year end.
The company’s year end is originally set on the month in which it was incorporated. It is possible to change your company’s year end, but an accounting period must not exceed 18 months. There are also restrictions on extending the year end more than once in five years.
The annual accounts must comply with the Companies Act 2006, including the format and notes to the accounts. Smaller businesses are able to file abbreviated accounts, which means that they do not need to file a profit and loss account on the company record.
The accounts must be filed with Companies House within nine months of the accounting date. There are strict penalty regimes for late submission of accounts enforced by the Registrar
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