Limited Company Series – Important dates
Throughout the year, directors should be aware of important dates where certain returns or payments are due. We will deal with the tasks as agreed in our terms and conditions of business.
A lot of deadlines are dictated by your company year end date, your first year end date will be a year after your incorporation date but always the last day of that month.
If the incorporation date was the 10 January 2011, then the first year end date will be the 31 January 2012.
a) Corporation Tax Payment due to HMRC
Payment is due 9 Months + 1 day after the year end. We will advise you of the amount payable based on the monthly reports you submit to us.
b) Year End Accounts
This document is due at Companies house 9 months after the year end. We will prepare this for you and then send it to you for signature and delivery.
c) VAT returns
If your company is to be registered for VAT, once it is registered we will need to calculate and submit a VAT return to HMRC every quarter (3 months). We need to receive your monthly invoice & expenses reports every month in order to prepare these returns and will advise you of the amount payable to HMRC each quarter.
d) Real Time Information & PAYE contributions
If you will be drawing a salary from your company, we will provide you with the National Insurance and PAYE tax due to HMRC every month by way of a pay slip, you will need to ensure you pay this amount by the 19th of the month following the month the salary was taken.
Under the new RTI rules a return must be submitted to HMRC every month confirming salary amounts and is due on or before the payment date.
e) Companies House Annual Return
Directors are to file Annual returns with Companies House 28 days after their anniversary date of incorporation. Companies House will post reminders when this is due.
f) Self assessment Tax Returns
These are personal returns that relate to tax years April – April and have be to be with HMRC with payment of any underpayment by 31st January of each year.
Deadlines - Important warning
Please note, failure to comply with the company deadlines will mean that you will incur substantial penalties. HMRC & Companies House strict penalty regime means that late filing of documentation can be very costly and you may be disqualified from acting as a company director for failure to comply.