Preparing company accounts for the first time can seem like a daunting task. In order to meet company account deadlines, it’s best to get organised and ask for financial advice where necessary.
We’ve put together an overview of how to file company accounts to help you get started. You’ll need to know about:
What are company accounts?
Company accounts include full (statutory) annual accounts and your company tax return. Statutory accounts are annual financial records prepared at the end of your company’s financial year and sent to shareholders, Companies House, and HMRC as part of your tax return.
All limited companies must file their company accounts each year, although small businesses can send simpler accounts than their bigger counterparts.
Please use this article as a guide only and get professional advice before preparing your accounts. You can check the government’s company accounts guidance and speak to an accountant.
How to prepare company accounts for a small company
Statutory accounts include a:
- balance sheet, which shows the value of everything the company owns, owes and is owed
- a profit and loss account, which shows the company’s sales, running costs, and any profit or loss made over the financial year
- notes about the accounts
Depending on the size of your business, you may also have to include a director’s report and an auditor’s report.
But if the government counts your business as a small company or a micro-entity, you may be able to send simpler ‘abridged’ accounts to Companies House and not need to be audited.
Small companies and micro entities
Your company counts as small if it has at least two of the following:
- a turnover of £15 million or less
- £7.5 million or less on its balance sheet
- 50 employees or fewer
It counts as a micro-entity if it has at least two of the following:
- a turnover of £1 million or less
- £500,000 or less on its balance sheet
- 10 employees or fewer
These thresholds changed on the 6 April 2025 – so make sure your company didn’t move to a new category.
Small businesses and micro-entities can currently use an exemption so their accounts don’t need to be audited. They can choose whether to send a copy of the director’s report and profit and loss account. Micro-entities can prepare simpler accounts that just meet statutory minimum requirements, and send only their balance sheet to Companies House.
Statutory accounts need to meet accounting standards, either:
- International Financial Reporting Standards
- New UK Generally Accepted Accounting Practice
However, filing rules are changing. From 1 April 2028, small businesses and micro-entities will no longer be able to file abridged accounts and must file a profit and loss account. Smaller companies will be able to opt out of having their profit and loss account published on the public register.
Company accounts deadlines: when are they?
Every company needs to send a copy of its accounts for each financial year to every member of the company. You must also file your accounts at Companies House, making them publicly available. Normally, the time allowed for delivering accounts to Companies House for a private company is nine months from your accounting reference date (ARD).
Your ARD refers to the end of your financial year. When you form your company, your financial year starts on the day of incorporation. Your first ARD will be a year later on the last day of the month you incorporated, and then on this date every year.
Company accounts deadline – example
For example, if you incorporated your company on 6 July 2026, your first ARD will be on 31 July 2027, and then 31 July every year.
As you deliver company accounts nine months after your ARD, this means your first company accounts aren’t due until 21 months after the date you registered with Companies House.
There are penalties for filing your report late, ranging from £150 for filing under a month late, to £1,500 for filing more than six months late.
Action | Deadline |
|---|---|
File first accounts with Companies House | 21 months after registering with Companies House |
File annual accounts | Nine months after the end of your company’s financial year |
Pay corporation tax (or tell HMRC you don’t owe any) | Nine months and one day after the end of your company’s accounting period for corporation tax |
File company tax return | 12 months after the end of your company’s accounting period for corporation tax |
You use your company accounts and company tax return to work out how much corporation tax to pay, but confusingly, corporation tax is due before your company tax return.
How to file company accounts: software and helpful services
There’s lots of accounting software available, which you can use to prepare and file your annual accounts. The government’s Company Accounts and Tax Online (CATO) service closed on 31 March 2026, so you now need to use commercial software to file your accounts to Companies House and HMRC.
You can currently do your company accounts on paper and send them to Companies House in the post. But from 1 April 2028, you must file your annual accounts using commercial software in a digital format, and paper filing will close.
When it comes to the company tax return, you have to file online. You can only use the paper form CT600 if you have a reasonable excuse for not being able to file online, or you want to file in Welsh.
Using an accountant for company accounts
You can choose to do your own accounting for your limited company, including preparing and filing your annual accounts.
However, most limited companies hire an accountant to manage their finances. A limited company’s structure and obligations are more complex than sole proprietorships, meaning it can be difficult to do everything yourself. There are severe penalties if you make a mistake.
Accountants are experts in business finance – if you hire a good accountant they’ll be able to take a lot of the stress out of filing your accounts with HMRC and Companies House. They can help you meet all of the legal requirements and avoid any penalties, ensuring company accounts meet accounting standards.
However, it’s important to understand that even if you use an accountant, company directors are still the ones who are legally responsible for making sure accounts are accurate.
Limited company accounts template
Your accountant or your accounting software will usually help you to format your annual accounts properly and to include all the necessary information. As we’ve said, what you need to include in your accounts will depend partly on the size of your business.
If you want to double check the required format and content for your statutory accounts, you can look at the relevant regulations, which can be found on the government’s legislation website. Accounts must comply with UK accounting standards.
There are some limited company accounts templates and examples online, including on the Sage website.
Be careful about using online templates, as they might not meet the right standards for company accounts. Check with a professional if you’re not sure about anything.
More guides for small business owners
- Key types of business tax in the UK (2026-27 update)
- What’s the difference between a sole trader and a limited company?
- How to file a company tax return
- A guide to dividend tax and the dividend tax rate
Ready to set up your cover?
As one of the UK’s biggest business insurance providers, we specialise in public liability insurance and protect more trades than anybody else. Why not take a look now and build a quick, tailored quote?