Companies with a year end of 30 June 2016

Small private companies with a year end of 30 June 2016 and into their second or later year of existence should submit their accounts to Companies House by 31 March 2017 in order to avoid a Late Filing Penalty.

Any corporation tax for small companies with a 30 June 2016 year end is due to be paid on 1 April 2017 in order to avoid Late Payment Interest. Clients of David Porthouse and Co can be e-mailed a customised payment advice which gives the details needed to make an electronic payment. This service is special to us, and is part of our aim of establishing a Unique Selling Proposition, or failing that, a distinctive product which our competitors will struggle to copy. The advice is pale blue to match the colour of the corporation tax form CT600 and it is prepared on a spreadsheet using macros. It turns out that there are many occasions where we can use an e-mailed advice to give accurate payment directions which are obviously better than just relying on the Revenue to send a payslip.

New small private companies in their first year of existence have an accounts deadline which is usually slightly shorter than this. If they have changed their year end then the deadline may be considerably shorter. They can look on the Companies House website to determine their deadline, but their accountant may have warned them already.

If you miss this deadline then we advise you to get your accounts drawn up and submitted as soon as possible in order to avoid further penalties. The need to be able to produce a set of accounts at high speed is one of our motives in taking an interest in new technology.

If you are over the deadline, there may be other problems such as with s455 tax and P11D returns. We can only say that leaving things to the last minute and beyond can often turn out to be expensive and you should see some Carlisle accountants quickly.