- info@visabizplan.co.uk
- Mon - Tue : 09:00 AM - 18:00 PM
Have Any Questions?
info@visabizplan.co.uk
HMRC and companies house account filling
HMRC and companies house account filling
HMRC (Her Majesty’s Revenue and Customs) and Companies House are two separate government entities in the United Kingdom responsible for different aspects of business regulation and taxation. Filing requirements with these entities vary, and businesses must comply with both to ensure legal and financial transparency. Here’s an overview of what each entails:
Companies House:
Purpose: Companies House is the UK government agency responsible for maintaining a registry of company information. It oversees the registration of companies and ensures that certain statutory information is available to the public.
- Annual Financial Statements: Companies are required to file annual financial statements. The level of detail depends on the size of the company.
- Confirmation Statement: A confirmation statement, formerly known as an annual return, must be filed at least once a year to confirm the company’s details.
- Changes in Company Details: Any changes in company details, such as changes in directors, registered office address, or share structure, must be promptly updated with Companies House.
HMRC:
Purpose: HMRC is responsible for the collection of taxes in the UK, including VAT, income tax, and corporation tax.
Filing Requirements:
- Corporate Tax Return: Companies must file a corporate tax return with HMRC. This includes details of the company’s profits, gains, and other relevant financial information.
- VAT Returns: If the company is registered for VAT, regular VAT returns must be filed, typically on a quarterly basis.
- PAYE (Pay As You Earn) Returns: If the company has employees, PAYE returns must be filed to report income tax and National Insurance deductions.
- Self-Assessment (for Sole Traders and Partnerships): Sole traders and partnerships may need to file self-assessment tax returns.