Filing your Company Accounts online - Simple Guide Updated for 2023

It's really quick and easy to file your small company accounts at Companies House. It will take you under 20 minutes and if you do it yourself you will save hundreds of pounds!! This is a totally revised version of my previous film on the subject that is updated for 2023.
IMPORTANT - there is now a NEW film for 2024 that updates this film about filing your accounts. See my KZbin channel for details
DON'T FORGET to also watch my simple guide to filing your Confirmation Statement (Annual Return).

[@TheNewsHoundLtd]

IMPORTANT - I have made a NEW film for filing accounts in 2024 that updates this particular film. PLEASE DO NOT WATCH THIS FILM - you can view the NEW film here which includes updates: kzbin.info/www/bejne/kKWlmnacqNOfnM0si=CNGhi621fBuFJhFn

[@Ma_Boila]

Thank you

[@TheNewsHoundLtd]

You're welcome!

[@Route_786]

Thank you for the very well-explained way and instruction. You made me save at least 1K of my accountant fee.

[@TheNewsHoundLtd]

That's fantastic - thanks so much for your comment - much appreciated.

[@abelwilliams737]

the best tutor with bags of knowledge in this field. Very very helpful. Hat off.

[@TheNewsHoundLtd]

Thanks so much - I really appreciate your comment.

[@mizanulhasan6588]

Life saving tutorial, thank you!

[@TheNewsHoundLtd]

Many thanks - much appreciated.

[@LMAO-ef3ip]

This was mostly a good video and helpful, however I would say that any guide or explanation video that spends half its time saying 'well if you dont know what this is then you shouldnt be running a business' and then proceeds not to explain or guide defeats the purpose of the video in the first place. There was a time when everyone didnt know what those things were, you could have been the person to first tell them, instead you mocked and sent them on their way. Disapointed with that side of things, but overall good video and general guide.

[@TheNewsHoundLtd]

Good point. Thanks for your comments. I am making some separate films explaining the various concepts related to the balance sheet, and they will be uploaded very soon. I didn't want this video to be too long as I think it could get boring, so I thought it would be better to make several separate videos explaining the different elements of the balance sheet. These new films will be uploaded within the next few weeks.

[@fuller9357]

This is a great informstive video! Thank you very much for running through this 😁 I can't beleive i oaid so much for this every year

[@TheNewsHoundLtd]

Thanks so much - I really appreciate your comment.

[@znpower]

I like your sense of humour!

[@TheNewsHoundLtd]

Thanks!

[@bm563]

I’m a qualified accountant and even for me this can go right over my head

[@TheNewsHoundLtd]

Many thanks. Yes, it can be complicated, and I hope that this video has helped you.

[@ceedv4813]

Hi, could you do a video explaining how to prepare your figures for a micro entity please? I’m really struggling with it and feel it is too small a company to hire an accountant to do this for me seeing as they come at a huge extra cost

[@lazycrazykids285]

Can help you if you want

[@darrenbugg8419]

Good idea!!

[@TheNewsHoundLtd]

I am going to add extra films on this subject very soon, so please keep watching the channel for more information.

[@darrenbugg8419]

@@TheNewsHoundLtd - good idea.

[@amousawie]

This is why. If you are not business educated and have no financial education. Then, you would not understand what you are doing. But if you have been struggling making business and your business owns nothing apart from your small personal survival cash in the account, then the following applies fixed assets is zero. Total current assets are inventory (if you have ) and your capital (money in the bank) Liabilities (negative number, which is cost of sales) Accruals ( money and expenses that you have but not yours, you delayed payment to others (creditors) and due to appear in the account as you make the transaction) Prepayment (0) if you did not pay anything. Prepayment (put the amount) if you've paid as this is an expense until profit or revenue is realised as a transaction in your accounts. Capita and reserve is the remaining amount after you've deducted the share capital if not paid yet. But you must prepare your accounts beforehand. Take a course (ACCA) if you do not have a business degree.

[@iftikharkhan6672]

I am your new subscriber. Thanks for the video.

[@TheNewsHoundLtd]

Many thanks - I really appreciate it.

[@ИзобилиеРецептов]

Thank you so much for this video!!!

[@TheNewsHoundLtd]

Thanks.

[@theresa7882]

Thank you so much. Absolutely amazing. ❤

[@TheNewsHoundLtd]

Thanks Theresa - I really appreciate it.

[@shanikhan1272]

Thank you so much for such informative and easy way to handle this things. Saves a lots of money. Can you please advise about tax return as i didn't earn much and going to close company? How can i submit or prepare tax return ?

[@TheNewsHoundLtd]

Hi - thanks for your comment - I'm really pleased you found the video useful. Unfortunately I'm not able to advise on matters related to tax as I'm not a qualified Chartered Accountant.

[@JamesMcManusMrJamesMcManus]

Really helped, thank you for sharing this. I'm a new business owner just a startup company so really saved me a couple of hundred quid here :) Dropped you a sub, keep up the great content

[@TheNewsHoundLtd]

Thanks James - much appreciated.

[@chittajena9345]

Thanks Darren. Nice one. Do we need to declare a company as Dormant before submitting annual return?

[@TheNewsHoundLtd]

You can make your company dormant at any time you like, but you still need to file an annual return. All limited companies, whether they trade or not, must deliver annual accounts and a confirmation statement to Companies House each year (this includes dormant companies). A company may be ‘dormant’ if it’s not doing business and doesn’t have any other income. But remember that "dormant" means different things for Corporation Tax and Company Tax Returns (for HMRC). A company does not need to pay Corporation Tax or file another Company Tax Return once they’ve told HMRC their company is dormant. But even if a limited company is dormant for Corporation Tax, it must still file a confirmation statement and annual accounts with Companies House.

[@reecehopkins9021]

Great Video, thank you :)

[@TheNewsHoundLtd]

Many thanks Reece.

[@roymichaeldeanable]

I have several limited companies each with a separate Authentication Code...I created a WebFiling account...and added each company to my WebFiling account....makes it easy in the future..for Confirmation Statements...Accounts...etc

[@TheNewsHoundLtd]

Thanks - yes that's really useful to know.

[@roymichaeldeanable]

@@TheNewsHoundLtd ...it might be a recent thing....but it certainly makes life easy...u need the Authority Code of course in each case....I zipped through several Confirmation Statements the other day....

[@mastans6539]

Hi mate, great thanks for the detailed video, have one query, do we still need file the tax though if we don't use the business account or no transactions.

[@TheNewsHoundLtd]

If your company has no transactions, then you don't need to file for tax at HMRC. But if this was the case, it might be better to make your company dormant anyway. (If you do decide to make your company dormant, then you need to inform both Companies House and also HMRC, so they don't keep sending you requests for your accounts). If your company is not dormant (but you have no transactions), then it's best to let HMRC know this.

[@MrP1.01]

Please increase volume on the video, dial up the recording - thanks

[@TheNewsHoundLtd]

OK thanks for the useful feedback Michael - I will do this next time I make a film.

[@alisaspire]

I am writing to inquire about the account filing process for my recently established LTD company, which is primarily focused on providing digital services. This being my first year running the company, I have received an email notifying me that I need to file my accounts within the next 14 days. The tutorial video I found provides step-by-step instructions and explanations for the account filing process. Should I just follow up the given instruction in this video would be enough ?

[@TheNewsHoundLtd]

It would probably be enough unless you are running a company with a really high turnover (in which case I would suggest getting an accountant).

[@martinrichardson8470]

Very useful, thank you. I use FreeAgent and it would appear that this data can be automatically loaded into the boxes?

[@TheNewsHoundLtd]

Yes, I think so, although I have not used FreeAgent myself, so I'm not certain about this.

[@muhammadiqbal1746]

hello, Thanks for video. My company hasn't done anything during last year so can I submit my return 0 in all columns. regards.

[@soulrydaz]

Great video, thank you so much, you have a new subscriber

[@TheNewsHoundLtd]

Many thanks, I really appreciate it.

[@AlexN0me11]

So if the accountant completes this for you, do you get a copy of the filled out form?

[@TheNewsHoundLtd]

Yes you should. But even if the accountant doesn't give it to you (which they usually will) you can get it online anyway, on the Companies House website.

[@demandspacetourism1]

Great video. if you don't take a salary from your own company, are you an employee for the purposes of filling in this form?

[@TheNewsHoundLtd]

Many thanks for your comment. In answer to your question, NO - you're only counted as an employee if you are taking a salary.

[@TheProphetBEK]

Thank you very much

[@TheNewsHoundLtd]

You are welcome

Great video! How do I add Retained earnings?

[@SHAHZADKHANS]

I have not filed my accounts and due date has passed, they are 18 days overdue, can I still file my micro accounts without penalty?

[@TheNewsHoundLtd]

Yes, you can still file your accounts late, but you might get fined. You would have to ask Companies House about this to confirm.

[@AwaisChaudhry]

Hi Dear, First of all thankyou so much for these informative videos. i am confused please help. I had formed my LTD and filed confirmation statement as well. now i need to file the accounts (due date is near). i had not done any business in the past year and i dont want to do any business in near future either. what is the best option to file now? micro entity with all zeros filing or dormant? what will be the difference in both. Looking forward to your Reply. Thanks and regards

[@TheNewsHoundLtd]

If you haven't made your company dormant yet, then this time you will need to file micro-entity accounts with all zeros (even if you have not done any business in the past year). But if you don't intend to do any business in the future, then you could make your company dormant at Companies House and then do dormant accounts next year. I am going to make another film soon about dormant companies, so please keep watching the channel and the film will be uploaded soon.

[@mrjohnnytoobad]

@@TheNewsHoundLtd this raises an interesting point. My business year is November-December, and I’m about to file for a small amount of income for year-ending November 2022. I haven’t traded/invoiced since last September (2022) and that’s unlikely to change, but I have yet to list the company as dormant. Should I do that now, or can it wait?

[@ukshine2269]

Hello, Do you have video for, how to complete corporate tax returns and file to HMRC? Thanks

[@TheNewsHoundLtd]

Hi there, sorry but I don't do videos about tax returns because I'm not a chartered accountant. For something like that you really need to seek advice from a fully qualified chartered accountant.

[@SHAHZADKHANS]

Where can I find the value of called up capital not paid?

[@dshow1696]

Really simple and useful tutorial 👌🏾

[@TheNewsHoundLtd]

Thanks - watch out for several new update films coming soon.

[@nestorceron]

The button of File Company Accounts does not appear after I log-in. I obtained the security codes, etc. I was wondering if you completed any additional step as part of the setup.

[@TheNewsHoundLtd]

Hi Nestor - that's really strange. The only thing I can think of is maybe it's because your accounts aren't due yet? If this is not the reason, then I suggest you phone Companies House about it, as it might be a technical fault. Their staff are usually very helpful. The number to call is 0303 123 4500.

[@noumanzahid3179]

if there is a limited company with no trading from day one, what type of accounts do we need to fill? Will it be dormant one?

[@TheNewsHoundLtd]

It depends whether the company is officially registered as 'dormant' at Companies House. If you have not registered the company as dormant, then you still have to file micro-entity accounts (even if you just put zero in all the figures). However, in the future, if you don't intend to trade for a long time, then it might be easier if you just register the company as dormant.

[@noumanzahid3179]

@@TheNewsHoundLtd Thank you. I haven't registered the company as dormant so I have to file micro-entity account. And, how to register the company as dormant? If you have created any video regarding this, please share the link.

[@TheNewsHoundLtd]

@@noumanzahid3179 - you will need to do 2 things - firstly tell HMRC that the company is dormant (use this link - www.gov.uk/tell-hmrc-your-company-is-dormant-for-corporation-tax ). Secondly, I would advise you to call Companies House just to let them know you are not trading (Phone: [phone]). Then in future years you can just submit dormant accounts. ALSO, if you are registered for VAT, then you will need to deregister (Use this link - www.gov.uk/register-for-vat/cancel-your-registration )

[@MecanicaAutomotrizPro]

I use my LTD to sell documents online. I don't have a physical store, everything is handled online on my website. We receive payments through strippe. The turnover since the tld was created has not reached US$7,000. Don't keep track of expenses. So all I have are the tax invoices for each month that Stripe provides me. How do I do my tax return for my ltd? Does this video help me?

[@TheNewsHoundLtd]

Hi, I hope this video will help you, but I'm not really sure from the information you have given. If you have any specific questions or need any help, please just let me know, and I will do my best to help.

[@Zero-Investing]

Thanks

[@TheNewsHoundLtd]

No problem

[@danwoodvine5900]

Hello, does anybody know if this is the same for a CIC ? I know you are also expected to include the CIC34 report.

[@porroapp]

Same question here. Would like to know what the process is for a CIC.

[@ng6121]

Hi, would you kind to help me file for my corportion tax together HMRC and companies house as its the first time for me??? Thank you

[@TheNewsHoundLtd]

Hello - I'm not an accountant myself. As I mentioned on the film, for HMRC and tax purposes, it's really important that you use the services of a fully qualified accountant to advise you.

[@seyitahmettanriver]

"First confirmation statement due. Confirmation Statement Date 25 May 2024 Next statement to be filed by 8 June 2024 Your payment period is from 26 May 2023 to 25 May 2024 Confirmation statement date You are not due to file a confirmation statement. Your expected date is 25 May 2024, which is calculated based on your previous submissions or incorporation date."

[@joneyspark1146]

Hi, Firstly Thanks for your life-saving informational video. I just opened a new company it's below three months. I don't have any earnings yet no employee and nothing. My question is I have to submit the file now to the companies house or in every year? and if I don't have any earnings for the whole year then should I have to pay any Tax or VAT? and if I have to submit then what account I will select micro-entity or dormant ? Thanks in advance.

[@pepsimac]

can a director submit their limited company account without the aid of an accountant?

[@TheNewsHoundLtd]

Yes.

[@delbigboy]

Thank you

[@TheNewsHoundLtd]

Thanks.

[@Randomz1985]

Is this how to do company house tax return

[@TheNewsHoundLtd]

No. This is the accounts you have to do for your registration at Companies House. You also have to do a separate TAX return for HMRC, and this involves giving different information (for example about your profits and other financial details).

[@Omoba464]

Hi what should my figure be if I didn't use my limited company throughout the year

[@TheNewsHoundLtd]

Do you mean that you were trading for part of the year as a sole trader, and then your company became a limited company part of the way through the financial year?

[@user-fv7pb8sv7b]

Thank you very much for your video I have submitted Statement of Address and Company Accounts online,My company's income within one year does not reach the transaction amount mentioned in the company account. Do I need to file another tax return? if so,How to pay Corporation tax for limited company please help!!! Looking forward to your reply Thanks

[@TheNewsHoundLtd]

I'm sorry, but I can't really give advice relating to tax as I am not a qualified accountant.

[@gentlegems7456]

Hello, The News Hound Ltd I've saw your lots of videos on your YT Channel. The video content is based on Company Formation And such an more things Basically i have a very small question to you. And i hope you will help me So my brother allready established a company in the UNITED KINGDOM with his partner ( the both partners / director's are INDIAN ) So after Company formation of 1.5 yrs company actually wants investments or the trusted person for their more power and to take business on large scale and for good base structure And as my brother's company I'm very interested to invest money and to take a part of company So my question is to you Is it possible to add new ( shareholder / partner ) in company by online process from company house. There is need of physical attendance in the UK with Company director's & the Third person who wants to part of the company ? Plz help me & Thanks for Reading this !!

[@TheNewsHoundLtd]

Hello. You asked the question "is it possible to add new ( shareholder / partner ) in company by online process from company house." The answer is YES - you can add new shareholders and directors to your company on the Companies House website.

[@TheNewsHoundLtd]

On the SHAREHOLDERS section, select the "Add / update other shareholders" button and complete the shareholders name and address, share class, number of shares and the date they were purchased (acquisition date).

[@gentlegems_]

@@TheNewsHoundLtd Thank you so much for your Reply , Can you please Let me know what are the Legalities involved in it such as Bonds or the charges for the process of adding shareholder in pvt ltd company. Thank you !

[@TheNewsHoundLtd]

@@gentlegems_ Hello again - I think it might be best if you consult a qualified accountant about this, as the subject is more complex and I'm not personally qualified to advise on this.

[@JoseJoe-wz9sc]

How can I close my company without any issue. I have not trade with it since the establish day. Also I was requested to pay 100 pounds due to late tax file. Pls how can I waive this amount.

[@TheNewsHoundLtd]

Hello - I am just about to make a film about closing a company, and it will be uploaded on here soon. It is actually a very simple process. Regarding the £100 fee, I doubt that they will waive the fee unless you have a good reason. I would suggest you phone Companies House to ask them to waive the fee, but you will have to give a good reason why it was late. Their number is 0303 123 4500.

[@mohammedabdirrahmanrubblei9141]

How about if its only myself, the director, and I don't take salary ?

[@TheNewsHoundLtd]

If it's a limited company then you still have to file accounts for Companies House, even if you are the only person in the company and you don't take a salary..

[@roymichaeldeanable]

When I created the limited company the Authentication code came with one of the letters

[@TheNewsHoundLtd]

Yes, it usually comes with the letter from Companies House when you form the company.

[@glax7439]

just for example: Below Accounts up-to-date it says "Next accounts made up to 31 December 2021 due by 30 September 2022", in this case should we file company accounts before December 31, 2021 or September 30, 2022 ?

[@TheNewsHoundLtd]

You need to file the accounts online before the "due by" date (so in your example it would be 30th September).

[@waqarehsan]

video starts at 2:10

[@fratsarap9727]

hello. I am going to work with some freelancer at Fiver. She has good scores. But when I wanted to work with her on setting up accounts and returns she wanted those informations. 1. Authentication code 2. UTR no. 3. Gateway ID and password activated for corporate tax Now I am confused she will have my all data without my permission she can even shutdown my company. Isn't true? Or is it normal to give her all this informations ? Can someone give me idea ?

[@TheNewsHoundLtd]

Many thanks for your comment. Speaking personally, I would not be happy giving her all this information myself, and I don't understand why she needs to know all this. I especially don't understand why she needs your Companies House Authentication Code, which is really just like a password to get onto your Companies House account. To be honest, I think you might need to get advice from a Chartered Accountant. You haven't mentioned what you actually do - but are you a member of a professional body for your profession? Maybe they could advise you on whether this is normal or not, for your type of profession? Also, do you know if Fiver do this for all of their Freelancers? (What would have happened if you had refused?) I would also advise you to call Companies House themselves to ask them. I have found them to be really helpful myself when I phone them, and if you call their helpline I'm sure they will be able to tell you whether or not this is normal. Their number is 0303 123 4500. Give them a call and explain this to them. I bet they will have some insight into other people in your situation.

[@bruceweb753]

How to pay Corporation tax for limited company please help!!!

[@TheNewsHoundLtd]

Thanks Bruce - I will try to put together a guide on this subject very soon, but when it comes to anything to do with taxation, I always advise people to also consult a qualified accountant.

[@gopaldangar3303]

If you file R&D tax credits, then eligible for Micro Entity Status?

[@Benstyping]

Audio too quiet.

[@TheNewsHoundLtd]

Yes, many thanks for your comment. I have recently bought a professional quality Sony microphone which I am going to use in the future, so the audio quality of my films will be much better in future. Thanks again for your feedback.

[@rabolpich]

you didn't explain any of the filing parameter and you mocked the audience that if they don't know this they must not run a business. thanks for the not a tutorial video!

[@TheNewsHoundLtd]

I didn't mean to sound mocking, but people do need to know something as basic as that if they want to run a business.

[@nayyaralatif1600]

Hi. I have already filed corporate accounts but now when i use companies house online service to file corporate tax return for the same period it does not show me the same period. Instead it shows the next year. please guide me

[@TheNewsHoundLtd]

It depends what date you started up your company. The tax year for HMRC won't necessarily be the same as the year for Companies House.

[@PashaSiraja]

Thank you good sir. I hope you've moved from the address shown in the youtube video :)

[@seaninglis111]

Perhaps an explanation, rather than if you don't know that.....

[@TheNewsHoundLtd]

This was only intended as a very basic quick guide to submitting online accounts. I wanted to keep it fairly short so I couldn't go into a lot of detail. However, I'm intending to make several more films in 2024 that will cover accounts in a lot more detail.

[@seaninglis111]

⁠@@TheNewsHoundLtd yes please, that would be helpful with a working example. I can easily divide my accounts into, sales, expenses, loans, end of year bank balance, etc, but how that fits into the format of the accounts is somewhat harder.

[@africanqueenmo]

The problem with your video is how insulting it is to business people. THe reason we are on here is to learn not to be told off and made to feel like you're judging whether or not we should be running a business or not

[@TheNewsHoundLtd]

Sorry you feel this way. I don't mean to insult anyone, but the problem is that the people who watch my film all have different levels of knowledge, and I have to try to pitch it to suit everyone. I've had other people who said the exact opposite (that the film is too simplistic and patronising) so I'm trying to pitch the film somewhere in the middle, and that means I assume people watching the film have a little bit of prior knowledge.

[@ceedv4813]

Hi, could you do a video explaining how to prepare your figures for a micro entity please? I’m really struggling with it and feel it is too small a company to hire an accountant to do this for me seeing as they come at a huge extra cost

[@TheNewsHoundLtd]

Yes, OK I'll try to do one for you soon. But as I stressed in the film, I am not an accountant myself, and therefore when it comes to the actual figures, it's best to seek advice from a qualified accountant if you are not sure. This film is intended to be just about how to fill in the online form.