How Do I Complete An Annual Return To Companies House?
Yearly submission of annual return to companies house is mandatory for every registered company. The company house annual return has to be filled in 28 days of the anniversary of the company. Companies house send an email alert or reminder letter to the company registered address when your annual return is due. All limited companies in the UK have to submit an annual return form to the company house every year.
The annual return gives a picture of general information about your company which includes company name, a company registered name, company type (Private or public) details of directors, the made update (the date to which return is made up] and secretary of the company, share capital, registered office, whether or not the company has traded last year, contact details, nature of your business and shareholdings.
The annual return is submitted on form AR01 but it is suggested that you should use companies’ house web filling or software filling services. It is quite straight forward, even you can file it yourself. Companies’ house is fanatical to promote online filling due to its efficiency.
If you want to change the company’s accounting reference date, you will have to apply to the company house.
You will need the assistance of a professional because there are certain restrictions as to what, why, and how you can change. This change will also be carried out using AR01 form or web services.
You need to inform companies house if you change your directors or secretary of the company during the year or if their residential address changes. You will use form CH01 if you are doing it on the behalf of an individual. You will use form CH02 if the director is another corporate body. But in this era of technology, it is a safer and quicker option to use web services for all these changes.
After producing a set of accounts, your company will need to do two things every year.
- You need to complete the self-assessment return for HMRC.
- You will lodge set of your accounts with companies house.
Very few people know that it is not mandatory to have the services of a qualified chartered account but by using one you can certainly avoid penalties of errors.
What an organization has to send to companies house varies depending on the size of that institution. They are typically classified into four categories
- Micro companies
- Small companies
- Medium companies
- Large companies
Micro companies
Micro company’s accounts usually do not need to be audited and do not have to be prepared by getting services of a qualified chartered accountant as previously discussed. the Company should prepare a standard balance sheet, director’s report on profit and loss. Micro companies submit very little information to companies house. They only share a basic balance sheet signed by the directors with some other formal statements. They can claim considerable exemptions to the filling rules under small companies’ regulations.
Small companies
Like micro-entities, small companies also enjoy easier reporting requirements with their available resources which are appropriate to companies’ houses. As a limited company director, you are legally bound to file an annual return for your company. And it is considered a criminal offense if you fail to file your annual return on time.
Medium companies
Medium-sized companies don’t have to include a director’s report or strategic report. They will submit only a shortened balance sheet to the company house unless they are reporting under international accounting rules. If a company is going through an audit, it will not include the auditor’s report to the company house. They can enjoy the exemptions of submitting a report with the omission of their KPIs and a reduced profit and loss account.
Submitting your information to the company house is a very easy process if you can do it at the right time in the right format. This process can be smoother if you can avail of the services of a professional accountant.