Limited Company Tax Responsibilities Checklist

Limited Company Tax Responsibilities Checklist

 Limited Company Tax Responsibilities

Limites companies have 2  sets of accounting periods. Companies House and HMRC

Limited Company Tax Responsibilities

Maintain annual statutory accounts.

Turnover less than £6.5 million, employ no more than 50 people or a balance of no more than £3.26 million on the Balance Sheet.

A financial report that helps shareholders understand if the company’s finances are in good health. Required to submit a directors’ report to HMRC if two of the following happens. A turnover of more than £10.2 million, £5.1 million on the balance sheet or 50 employees or more.

Auditor's report provides an opinion on the reliability of the company’s financial statements.

A balance sheet is a financial report of a company's assets, liabilities and shareholders' equity.

Annual profits will be subject to Corporation Tax.

Corporation Tax payment is due 9 months after the end of your company financial year.

Every company must file a confirmation statement with companies house confirming information about your company is up to date.

Company Tax Return is due 12 months after your accounting period ends.

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