Filing accounts with Companies House is a crucial responsibility for all UK companies, regardless of their size or trading status.
As part of the company’s legal obligations, these accounts provide a clear picture of the company’s financial health and ensure transparency with stakeholders. Missing the filing deadline can result in hefty fines and damage your company’s reputation.
In this guide, I’ll walk you through the entire process of filing accounts with Companies House, explain the types of accounts you can submit, the deadlines you need to meet, and how to avoid costly mistakes.
Whether you’re a first-time business owner or simply looking for a refresher, this comprehensive guide will make the process simple and straightforward.
What Are Companies House Accounts?
Companies House accounts, often referred to as “statutory accounts,” are financial reports that businesses submit annually.
These reports outline the company’s financial performance and position for a specific financial year.
Companies House accounts differ from HMRC tax returns. While Companies House focuses on financial transparency for the public, HMRC requires separate accounts to assess a company’s Corporation Tax liability. However, some of the information in these reports overlaps.
Key Components of Companies House Accounts
Here are the key documents that most companies must submit as part of their accounts:
- Balance Sheet – A snapshot of the company’s financial health, showing its assets, liabilities, and equity.
- Profit and Loss Statement – Details the company’s income, expenses, and net profit or loss for the year.
- Notes to the Accounts – Provides additional details to support the numbers in the balance sheet and profit and loss statement.
- Directors’ Report (only for certain types of accounts) – Describes the company’s financial activity and key decisions made during the financial year.
For small and micro-entities, fewer disclosures are required, allowing them to file simplified versions of these reports.
Types of Company Accounts You Can File
Not every company files the same type of accounts. The type of accounts you submit depends on the size, activity, and financial position of your company.
1. Micro-Entity Accounts
Micro-entity accounts are the simplest type of accounts. Companies classified as “micro-entities” benefit from reduced disclosure requirements.
Eligibility Criteria for Micro-Entity Accounts:
To qualify as a micro-entity, your company must meet at least two of the following three criteria:
- Turnover of £632,000 or less.
- Total assets worth £316,000 or less.
- 10 or fewer employees.
What’s Different for Micro-Entities?:
Micro-entities only need to submit a balance sheet, which requires less detail compared to other account types. No profit and loss account or directors’ report is required.
2. Dormant Company Accounts
A dormant company is one that has not traded or carried out any business activity during the financial year. These companies still need to file accounts but the process is much simpler.
Key Points About Dormant Accounts:
- Dormant accounts contain only a balance sheet.
- No profit and loss statement is required since no transactions occurred.
- Dormant companies often submit a statement of “no significant accounting transactions.”
3. Abridged Accounts
Small companies that do not qualify as micro-entities can prepare abridged accounts. This is a middle ground between full statutory accounts and simplified micro-entity accounts.
Eligibility Criteria for Abridged Accounts:
To qualify, the company must meet at least two of the following criteria:
- Turnover of less than £10.2 million.
- Total assets of less than £5.1 million.
- Fewer than 50 employees.
What’s Different for Abridged Accounts?:
Abridged accounts contain less detail than full accounts but more than micro-entity accounts. Small companies can merge certain sections, like the profit and loss account, to reduce disclosure.
4. Full Statutory Accounts
Full statutory accounts must be filed by larger companies or those that do not qualify as micro-entities, small companies, or dormant companies. These are the most comprehensive and detailed type of accounts.
What’s Included in Full Statutory Accounts?:
- Balance sheet
- Profit and loss account
- Cash flow statement
- Notes to the accounts
- Directors’ report
These accounts provide the most in-depth view of a company’s financial position and are publicly available for review.
When Do You Need to File Your Accounts?
Your company’s accounting reference date (ARD) determines the filing deadline for your accounts.
Filing Deadlines
- First Year Accounts: If it’s your first set of accounts, you have 21 months from the date of incorporation to file.
- Subsequent Accounts: After the first year, accounts must be filed 9 months after the end of each financial year.
Step-by-Step Guide to Filing Accounts With Companies House
Step 1: Prepare Your Company’s Financial Records
Before filing, ensure you’ve gathered all necessary financial documents to create accurate accounts. These include:
- Invoices and receipts: Ensure all business income and expenditure is accounted for.
- Bank statements: Provide a clear view of cash flow and account balances.
- Payroll records: Include employee salaries, tax deductions, and National Insurance contributions.
- Expense reports: Detail all allowable expenses incurred by the business.
If you use accounting software such as Xero, QuickBooks, or FreeAgent, you can streamline this process by generating ready-made financial reports directly from the system.
Step 2: Log Into the Companies House Online Portal
To file accounts online, you’ll need access to the Companies House portal. Make sure you have your company’s authentication code handy.
- Don’t have the code? Request one from Companies House. Keep in mind that it can take up to 5 working days to arrive, so plan ahead to avoid filing delays.
Step 3: Choose the Right Type of Accounts to File
Different companies qualify for different types of accounts. Determine which category applies to your business:
- Micro-entity accounts: For small businesses with minimal income, staff, and assets.
- Dormant accounts: For companies that haven’t traded during the financial year.
- Abridged accounts: For small businesses opting to present reduced information.
- Full statutory accounts: Comprehensive accounts required for larger businesses or those that don’t meet the criteria for simpler options.
Refer to Companies House guidelines if you’re unsure about your category.
Step 4: Complete and Submit Your Accounts
- Log into the Companies House online filing service using your credentials.
- Select the type of accounts you’re filing from the available options.
- Upload your accounts: Make sure they adhere to the appropriate format and contain all required information.
- Review your submission: Double-check for accuracy to avoid rejections or penalties.
Once satisfied, proceed with the submission.
Step 5: Receive Confirmation of Submission
After submission, Companies House will review your accounts. Here’s what to expect:
- Confirmation email: You’ll receive a notification once your accounts are successfully filed.
- Error handling: If errors are found during the review process, you’ll be notified and required to correct and resubmit.
Remember, filing on time helps you avoid late submission penalties. Always allow ample time to prepare and file your accounts well before the deadline.
What Happens If You Miss the Filing Deadline?
Filing your company’s accounts with Companies House on time is a legal obligation. If you miss the deadline, the consequences can be severe, including financial penalties, reputational damage, and legal action in extreme cases. Companies House enforces strict deadlines for filing, and they do not hesitate to impose penalties for late submissions.
Here, we’ll explore in detail what happens if you fail to file your accounts on time, how penalties are calculated, and what steps you can take to avoid or appeal them.
1. Automatic Late Filing Penalties
The moment your company misses its filing deadline, Companies House automatically applies a financial penalty. The amount of the penalty depends on how late your accounts are, and the penalties increase the longer you delay.
Penalty Structure for Private Limited Companies (LTDs):
| Length of Delay | Penalty Amount for Private Companies | Penalty Amount for Public Companies |
| 1 day to 1 month late | £150 | £750 |
| 1 to 3 months late | £375 | £1,500 |
| 3 to 6 months late | £750 | £3,000 |
| More than 6 months late | £1,500 | £7,500 |
Note: If your company is a public limited company (PLC), the fines are significantly higher than those for private limited companies (LTDs).
Why Are There Different Penalty Tiers?
The penalty system is designed to encourage companies to file their accounts on time. The longer the delay, the larger the penalty. Companies House applies this “sliding scale” approach to make it clear that delaying submission will cost companies more.
2. What Happens If You Consistently File Late?
If your company develops a pattern of late filing, the penalties can get worse. Repeated delays may trigger:
- Higher Penalties in Future Years – If you file late for two consecutive years, the penalty for the second year is doubled. For example, instead of a £150 penalty for being 1 month late, you would be fined £300.
- Legal Proceedings – Companies House has the authority to prosecute directors if they repeatedly fail to file accounts.
- Company Strike-Off – If a company continually fails to file accounts or appears dormant without communication, Companies House may assume the company is no longer active and strike it off the register, effectively closing the company.
3. Possible Consequences of Missing the Filing Deadline
Filing accounts late doesn’t just result in penalties. It can have a ripple effect on your company’s operations, reputation, and overall stability.
Financial Penalties
The most immediate consequence of missing the filing deadline is the financial penalty. As we saw earlier, these penalties increase with time, and for two consecutive late filings, the penalty amount doubles.
Damage to Reputation
Companies House maintains a public record of your company’s filing history. Investors, suppliers, and potential business partners can see if your company has consistently missed deadlines. A company with repeated late filings may appear disorganized, irresponsible, or financially unstable. This could negatively impact relationships with potential partners or lenders.
Company Strike-Off
If Companies House believes that a company is no longer actively trading (because it has not filed accounts or annual confirmation statements), they may issue a notice of strike-off. This notice is published in The Gazette, a public record of company activity. If the company fails to respond, it will be struck off the Companies House register and cease to exist legally.
Personal Liability for Directors
Directors are personally responsible for ensuring the company files its accounts on time. If a company consistently fails to file, the directors could face legal prosecution. While rare, if the courts rule against you, you may face fines and, in extreme cases, even disqualification from serving as a company director in the future.
4. Can You Avoid or Appeal a Late Filing Penalty?
If you believe you have a valid reason for filing late, you may be able to appeal the penalty. However, Companies House only accepts appeals under certain conditions.
Valid Reasons for an Appeal
Companies House has a strict set of conditions for appeals. Below are some examples of acceptable reasons:
- Serious Illness or Bereavement: If a key director, accountant, or person responsible for filing becomes seriously ill or dies.
- Natural Disasters: Events like floods, fires, or natural disasters that prevent access to company records.
- Companies House System Issues: If the Companies House online portal experiences technical difficulties at the time of filing.
- Postal Delays: Only in rare cases where postal delays are beyond your control and can be verified.
Note: Appeals based on “not knowing the deadline” or “I forgot” are not considered valid reasons. Companies House expects directors to understand their obligations.
How to Submit an Appeal?
- Write to Companies House explaining your reason for the late submission.
- Provide supporting evidence (e.g., medical records, technical error reports, or letters from third parties).
- Companies House will review your case and respond in writing.
5. How to Avoid Missing the Filing Deadline?
The best way to avoid penalties is to ensure you file your accounts on time. Here’s how you can do that:
Know Your Filing Deadlines
- The filing deadline for most companies is 9 months after the end of the financial year.
- For new companies, the first set of accounts must be filed within 21 months from the incorporation date.
- Set reminders in your calendar and set early filing goals.
Use Accounting Software
Using accounting software like Xero, QuickBooks, or FreeAgent allows you to generate financial statements quickly. These tools integrate with HMRC and Companies House, making it easier to file your accounts online.
Hire a Professional Accountant
A professional accountant can help ensure accuracy and timely filing. Accountants have experience dealing with Companies House requirements and will ensure you meet deadlines. For those in the medical field, there are specialists such as accountants for doctors who understand the unique financial needs of healthcare professionals.
File Early
Don’t wait until the last minute to file. By submitting your accounts early, you’ll have more time to correct any errors or issues that arise.
Get Your Authentication Code Early
If you’ve lost or forgotten your company authentication code, request a replacement immediately. It can take up to 5 days to arrive at your registered office.
Conclusion
Filing accounts with Companies House is a key obligation for all UK companies. By understanding your company’s classification, using the right tools, and following the steps in this guide, you can avoid penalties and ensure timely submission.
If you’re unsure about your company’s accounts, seek advice from a qualified accountant or use accounting software to make the process easier. Don’t wait until the last minute, start preparing early to avoid costly mistakes.
FAQs About Filing Accounts With Companies House
What happens if I file my accounts late?
Late submissions result in automatic penalties ranging from £150 to £1,500.
How do I get a company authentication code?
Request it from Companies House. It will be sent to your registered office.
Can I file dormant accounts if my company was not trading?
Yes, but you must submit a balance sheet confirming no financial activity.
Can I file paper accounts instead of online submission?
Yes, but filing online is faster, more secure, and less likely to result in errors.
How long does it take for Companies House to process my accounts?
Online submissions are usually processed within 24 hours.
Can I change the type of accounts I file?
Yes, but you must ensure you meet the criteria for the new type of accounts.
Can I file my accounts early?
Yes, and it’s recommended to avoid last-minute issues.
