If you’re a small company you now have the following 3 options for filing your accounts:
1. Micro-Entity AccountsYou must meet at least 2 of the following:
- turnover is no more than £632,000
- balance sheet total is no more than £316,000
- average number of employees is no more than 10
2. Abridged AccountsYou must meet at least 2 of the following:
- turnover is no more than £10.2 million
- balance sheet total is no more than £5.1 million
- average number of employees is no more than 50
- Use the Companies House-HMRC joint filing service (Visit HMRC to use the joint filing accounts service).
- Use third party software - the more documents you file, the more appropriate software filing is likely to be. You can view Companies House's list of approved software providers by following the link at the end of this post.
3. Full Accounts with Companies House and HMRCThese joint accounts are suitable for small companies who are audit exempt and wish to file full accounts to both Companies House and HMRC. You can also file your tax return with HMRC at the same time.
You can view Companies House's updated guidance by clicking here.