Our company focuses on international clients who are abroad, and we want to make the service as convenient as possible at a distance. We offer services for the preparation of the annual report, we also submit it to Companies House and HMRC. In order for the Company not to be fined and to have a high authority, reports must be prepared and submitted on time. This service is provided by our partner accounting company at the best prices on the market.
- Free accountancy consultation
Responsibility for the timely submission of reports to the UK HM Revenue & Customs rests with the director of the British company.
The Director has the following legal responsibilities:
- Submission of an annual confirmation statement confirming the status of the company and compliance with the declared PSC.
- Submission of annual reports and declarations.
- Payment of annual tax.
- Ensuring the legal payment of dividends.
- Registration of VAT in case of reaching the threshold.
- Submission of a report to the PAE and SHMRS in the case of hired labor, including the director of the company.
- Filing a tax return for individuals who received dividends in excess of £5,000 in the reporting year.
Consult and you will not pay too much taxes, the accountant will deduct your costs from taxable income, this is legal.
When should I submit my first report?
Your first accounts usually cover more than 12 months. This is because they:
- start on the day your company was set up (‘incorporated’)
- end on the ‘accounting reference date’ that Companies House sets for the end of your company’s financial year – this is the last day of the month your company was set up
Example
If your company was set up on 11 May, its accounting reference date will be 31 May the following year. So your company’s first accounts must cover 12 months and 3 weeks.
In following years, your accounts will normally cover your company’s financial year from 1 June to 31 May.
When should I file my first tax return?
The period covered by your tax return (your ‘accounting period’ for Corporation Tax) cannot be longer than 12 months. So you may have to file 2 tax returns to cover the period of your first accounts. If you do, you’ll also have 2 payment deadlines.
In following years you then normally only file one tax return – and it will usually cover the same financial year as your accounts.
