Statutory Responsibility for Filing Limited Company Accounts

(Including New Rules for Overseas Entities)

As a director, you have a legal responsibility to ensure your company’s accounts are accurate and submitted on time, even if your company is not trading or is dormant. This process involves adhering to complex accounting standards (such as GAAP FRS regulations) and meeting HMRC’s strict requirements.

📅 Deadlines Matter: Missing a filing deadline can lead to significant penalties, increased taxes, or even removal of the company from the register.

🌍 Additional Requirements for Overseas Companies: The newly announced ECCT and company law changes will require overseas companies to submit electronically and undergo identity verification. Under the newly announced system, only qualified accountants registered under the ACSP system will be able to submit filings on behalf of overseas company directors. Unlike the previous system, overseas entities that previously handled various tax filings but are no longer qualified will be entirely excluded.

Are Limited Company Directors Feeling the Burden of Filing Annual Accounts?

Here’s How Your Accountant Can Help:

1. Navigating Complex Rules: Accountants are professionally trained to handle the complexities of filing annual accounts, understand UK accounting standards, exemptions, and allowances, ensuring compliance without the stress.
2. Ensuring Compliance and Quality: The HMRC tax agent system has strict requirements for practicing accountants to ensure they provide high-quality service. Working with a registered tax agent ensures adherence to HMRC standards and delivers high levels of compliance.

Let the Experts Help:

With the support of a professional accountant, you can ensure your filings are accurate, compliant, and on time, helping you avoid penalties and focus on growing your business.

If you haven’t appointed an accountant yet, now is the time.

***Contact us to learn more.