For directors
You're a director. Your company's filings are your responsibility, even if someone else does them.
That isn't meant to alarm you. It's a good reason to be able to see, at any moment, what your company owes, when, and how each figure was worked out.
You can prepare everything now; sending to HMRC and Companies House opens soon.
What a director must do
A director must keep company records and report certain information, prepare the annual accounts, complete, file and pay the Company Tax Return and Corporation Tax, and file the accounts.(source 1) You can hire someone, an accountant for example, to handle some of it, but the director is still legally responsible for the company's records, accounts and performance.(source 2) A director who doesn't meet these responsibilities can be fined, prosecuted or disqualified.(source 3)
Two organisations, different deadlines
Your accounts go to Companies House. Your Company Tax Return goes to HMRC. They're separate filings to separate bodies, each with its own deadline.
The accounts and the tax return have different deadlines, but you may be able to send them at the same time.(source 4) A small company or micro-entity still sends its full statutory accounts to HMRC, as part of the Company Tax Return.(source 5)
What standing.tax gives a director
- Your company's deadlines with HMRC and Companies House in one place, and what each one still needs from you.
- An email reminder 30 days and 7 days before your accounts, confirmation statement and Corporation Tax deadlines.
- Tap a figure on the return to see the invoices and bank lines that make it up.
- You check and approve every figure. Nothing is filed until you have.
- Each filing sent from here is kept with what was sent and what came back.
- A period you've filed is locked, so its figures can't be quietly changed afterwards.
Your company's signature
The authentication code is a 6-character code of letters and numbers that Companies House issue to each company. It authorises what is filed online, as an officer's signature would.(source 6) Treat it like a bank card PIN: anyone who knows it can change the company's details online.(source 7)
- You give your company's authentication code once. It's kept encrypted, never shown again, and put only on the filings you approve.
How you take money out of the company, by salary, dividends or a loan, is advice about your own circumstances: that's one for an accountant.
Questions people ask
My accountant files for us. Am I still responsible?
You can hire someone, an accountant for example, to handle some of it, but the director is still legally responsible for the company's records, accounts and performance.(source 2) Companies House say the same of paying a professional to file: you're still legally responsible for the company's accounts, records and performance.(source 8)
What if a filing is late?
Each body has its own penalties. See missed a Companies House deadline and the late-filing section of filing your Company Tax Return online.
Where these rules come from
Each numbered sentence above is our plain-English version of GOV.UK’s own words, which are below with a link to the page they come from.
- 1.
“As a director of a limited company, you must: follow the company's rules, shown in its articles of association keep company records and report certain information prepare your annual accounts complete your Company Tax Return file your accounts and your Company Tax Return tell other shareholders if you might personally benefit from a transaction the company makes pay Corporation Tax”
GOV.UK: Running a limited company: your responsibilities - 2.
“You can hire other people to manage some of these things day-to-day (for example, an accountant) but you're still legally responsible for your company's records, accounts and performance.”
GOV.UK: Running a limited company: your responsibilities - 3.
“You may be fined, prosecuted or disqualified from being a company director if you do not meet your responsibilities.”
GOV.UK: Running a limited company: your responsibilities - 4.
“You have different deadlines for sending your accounts to Companies House and your tax return to HMRC, but you may be able send them at the same time.”
GOV.UK: Prepare annual accounts for a private limited company - 5.
“You must still send statutory accounts to your members and to HM Revenue and Customs (HMRC) as part of your Company Tax Return if you're a small company or micro-entity.”
GOV.UK: Prepare annual accounts for a private limited company - 6.
“The company authentication code is a 6 digit alphanumeric code issued by Companies House to each company. The code is used to authorise information filed online and is the equivalent of a company officer's signature.”
GOV.UK: Company authentication codes for online filing - 7.
“You should treat your company authentication code with the same care as your bank card PIN. Anyone who knows your code is able to change your company's details online.”
GOV.UK: Company authentication codes for online filing - 8.
“A professional can help you file and stay compliant - but you're still legally responsible for your company's accounts, records and performance.”
GOV.UK: Using software to file your company's information
