If you run a limited company in the UK, you’ve probably heard about “year-end accounts” — but what exactly needs to be submitted, when’s the deadline, and what happens if you miss it?
This guide will walk you through what year-end accounts actually are, who needs to prepare them, what they include, and when everything is due. We’ll also look at the penalties for missing deadlines and how to make sure everything runs smoothly.
What Are Year-End Accounts?
Year-end accounts (officially known as statutory accounts) are a summary of your company’s financial activity for the year. They show how your business has performed and give a snapshot of its financial health.
Every UK-registered limited company has to prepare them — even if you didn’t trade during the year.
Who Needs to File Them?
All UK limited companies must prepare and submit year-end accounts. That includes companies that are:
- Actively trading
- Dormant
- Small or micro-sized
- New or well-established
There are some simplifications available depending on your company’s size. For example:
- Micro-entities can prepare very simple accounts with minimal detail.
- Small companies can submit abridged accounts (a shorter version).
- Dormant companies only need to submit a basic dormant set.
- Medium and large companies need to include full reports, including a director’s report and an auditor’s report (unless they qualify for exemption).
What’s Included in Year-End Accounts?
Depending on your company’s size, a typical set of accounts might include:
- A balance sheet showing your company’s assets, liabilities, and overall position
- A profit and loss account showing income, expenses, and profits or losses for the year
- Notes to the accounts with extra detail on the figures
- A director’s report (for medium/large companies)
- An auditor’s report (unless your company is exempt)
Smaller companies can usually skip the director’s and auditor’s reports and submit a simpler version.
When Do You Need to File?
Filing deadlines vary depending on whether it’s your first year or not:
- First accounts (after incorporating): you’ve got 21 months from the date of incorporation.
- After that: accounts are due 9 months after the end of your financial year.
So, if your company’s financial year ends on 31 December, you’ll need to file by 30 September the following year.
But that’s just with Companies House. With HMRC, it’s slightly different:
- You must file your Company Tax Return (which includes your accounts) within 12 months of the end of your accounting period.
- You must pay any Corporation Tax owed within 9 months and 1 day of the end of that period.
It’s easy to see how these deadlines can catch you off guard — especially if you don’t plan ahead.
How Do You File Year-End Accounts?
There are a few ways to do it:
- Use Companies House WebFiling for online submission.
- File online with HMRC for your Company Tax Return.
- Use approved accounting software to prepare and submit both together.
- Hire an accountant (a popular choice!) to make sure everything’s correct and compliant.
If you’re eligible, you can file company accounts and your tax return at the same time using HMRC’s Company Accounts and Tax Online (CATO) service — a real time-saver.
What Happens If You File Late?
Filing late isn’t just a slap on the wrist — it comes with penalties, and they increase the longer you wait.
Companies House:
- Up to 1 month late: £150
- 1 to 3 months: £375
- 3 to 6 months: £750
- More than 6 months: £1,500
If you’re late two years in a row, the penalty is doubled.
HMRC:
- 1 day late: £100
- 3 months: Another £100
- 6 months: They may estimate your tax bill and add a 10% penalty
- 12 months: Another 10% penalty on top
That’s a lot of money to lose for something that’s completely avoidable — especially when you’ve already done the work of running your business all year.
Conclusion
Filing your company’s year-end accounts might not be the most exciting part of running a business, but it’s one of the most important. It keeps you compliant, avoids unnecessary fines, and helps you understand where your company stands financially.
Whether you’re just getting started or have been running your company for years, staying on top of your deadlines and filing requirements will save you time, money, and hassle. And remember — the best time to file company accounts is before the deadline panic kicks in.
