Irrespective of size, limited companies must file annual company tax returns (CT600) with HMRC, as well as paying any Corporation Tax owed. Even if the company made a loss in the year and no Corporation Tax is owed, HMRC can impose financial penalties if there are errors in the CT600 return or if it is filed late.
Companies House will also require a company to submit annual accounts nine months after its year end and it is imperative that these are correct.
HMRC prefer CT600s to be filed electronically through compatible software to ensure that they are received and processed almost immediately and Companies House expect the same. We use the latest HMRC-recognised software which links to many of our other services such as VAT and Payroll.
Being bogged down with paperwork is not the way to run your business effectively. Having knowledgeable professionals handling your accounts and dealing with HMRC on your behalf is. Contact LR Accounting today on 0345 314 8972 to speak with an accountant and benefit from expert advice.