Each year, every registered company is required to provide a complete annual return to the Companies House. This guide will walk you through all you need need to know about what, how, and when you need to file your taxes.
What exactly is a yearly return?
The information contained in your company's yearly return includes the following categories of data:
your principal place of business.
directors
shareholders
contact info
besides the nature of your business.
Don't get the annual return mixed up with your company's annual accounts and tax return; the three documents are entirely distinct from one another and, in most cases, won't be submitted all at once.
In order to file my annual return, what information do I need to provide?
Your tax return for the year must contain the following:
Details of how to get in touch with you, such as the registered address of your company and the "single alternative inspection location" (SAIL), which is the location where records are held in the event that they are not at the registered address.
Details on the firm's directors and company secretary, such as their names, birth dates, and nationalities (if your company has either of these positions).
Your company's primary lines of business—you'll need to pick at least one primary line of business from a list of standard industrial categorization (SIC) codes to explain what it is that your company does.
The category of the company (such as private or public), information regarding the shares that have been issued by the company, and in some instances, particulars regarding the shareholders of the company.
What is the procedure for submitting my annual return to Companies House?
Using the online filing service provided by Companies House WebFiling is both the most cost-effective and time-efficient method for submitting your annual return to the Companies House. The online filing service has a fee of thirteen pounds, which can be paid with a credit card or through PayPal.
Before you can use this service, you will first need to register with Companies House for their WebFiling platform. In order to successfully complete your registration, they will send an authentication code for your firm to the company's registered office address. Because of this, you will need to give yourself plenty of time for the code to be delivered.
You can also send in your return through the mail, but doing so will cost you £40. In order to accomplish this, you will need to download an annual return form (AR01) and then mail it, together with a check, to Companies House. Remember to write your company number on the reverse of the check if you do decide to send one in.
When is it necessary for me to file an annual return?
When it is time for your annual return, Companies House will send a notification email or a letter of reminder to the address that your firm has on file with them.
The deadline is typically one year after the date on which your firm was incorporated or one year after the date on which you filed your most recent annual return, whichever comes first. You have up to 28 additional days after the first filing deadline to submit your yearly return.
In the event that you do not file your annual return, you risk incurring a fine of up to £5,000 and the possibility that your company will be dissolved.
Comments