This guide is maintained as a current resource for September 2026 and covers only the laws of England and Wales. Information is for general guidance, not legal advice. Consult a qualified solicitor for advice specific to your situation.
Learn about filing obligations for a new company trading in England and Wales, including deadlines for annual accounts, Corporation Tax returns (CT600), confirmation statements, Corporation Tax payment requirements, and practical compliance guidance during the first year of business.
When a company is incorporated and begins trading in England and Wales, there are several statutory filing obligations it must meet in its first year. These obligations arise from both company law (for reporting to Companies House) and tax law (for reporting to HM Revenue & Customs (HMRC)). Meeting these deadlines is essential to maintain compliance, avoid financial penalties, and ensure the business remains in good standing with regulators and creditors.
This article explains step by step what new companies must file in their first year, the legal requirements, typical deadlines, practical considerations, and common questions.
Why Filings Matter
Filing obligations in the first year of trading are designed to promote legal transparency, ensure accurate financial reporting, and facilitate proper taxation. Companies that fail to file required documents or tax returns on time may face penalties, interest charges and, in extreme cases, enforcement action by Companies House or HMRC.
Understanding these requirements early on can help directors plan ahead, avoid costly mistakes, and meet legal duties.
Annual Accounts: What You Must File
What Are Annual Accounts?
Annual accounts (often called statutory accounts) are a summary of a company's financial activities for its financial year. They include a balance sheet, profit and loss account, and other supporting disclosures prepared in accordance with UK accounting standards. All companies must prepare and file accounts with Companies House regardless of whether they are actively trading.
First Accounts Deadline
For a private limited company, the first set of statutory accounts must be delivered to Companies House within 21 months of the date of incorporation. In practice, this means that if a company is incorporated on 15 July 2025, its first accounts are due by 15 April 2027 (21 months later).
This extended deadline only applies to the first filing; subsequent years typically have shorter filing periods.
How the Accounting Reference Date Works
Companies House automatically sets an accounting reference date (ARD) - usually the last day of the month in which the company was incorporated. For example, a company incorporated on 15 July will usually have 31 July set as its ARD. The first accounts usually cover the period from incorporation to that ARD.
Corporation Tax: Obligations and Returns
Registering With HMRC
After incorporation, the company must register for Corporation Tax within three months of starting to trade, receiving income, or acquiring assets. This is separate from accounts filing and must be done through your business tax account on the HMRC website.
Corporation Tax Returns (CT600)
Companies must file a Company Tax Return (CT600) with HMRC for each accounting period. Accounting periods for corporation tax cannot exceed 12 months, even if the company's financial year (the period covered by accounts) is longer. Therefore, in the first year, a company often must file two CT600 returns: one covering the first 12 months of trading and another covering the remaining days up to the accounting reference date. This is a direct consequence of the rule that tax accounting periods cannot exceed 12 months.
For example, if a company is incorporated and starts trading on 11 May 2025 with an ARD of 31 May 2026, its first statutory accounts will cover 11 May 2025 to 31 May 2026. However, HMRC would usually require:
- One CT600 for 11 May 2025 – 10 May 2026, and
- A second CT600 for 11 May 2026 – 31 May 2026.
Tax Filing and Payment Deadlines
- Corporation Tax return (CT600): Must generally be filed within 12 months after the end of the accounting period to which it relates.
- Corporation Tax payment: The tax due must normally be paid within nine months and one day after the end of the accounting period.
Even in a company with no profit or no trading activity, a CT600 may need to be filed or HMRC must be notified that no tax is due.
Confirmation Statement
Companies are also required to submit a confirmation statement (formerly called an annual return) at least once every 12 months. This document confirms the accuracy of key information on the public register, including details of directors, shareholders, registered office address and share capital. Filings must usually be made within 14 days after the anniversary of incorporation.
The confirmation statement does not include full financial information but is essential for maintaining accurate public records.
Record Keeping and Other Responsibilities
Accounting Records
From the moment your company begins, directors have a statutory duty to keep accurate accounting records. These records support the accounts, tax returns and any future audit or regulatory review. They should show all money received and spent, assets owned, liabilities owed, and details of income and expenses.
PAYE and VAT Registration
If your company employs staff, it must register for Pay As You Earn (PAYE) schemes to collect and pay income tax and National Insurance. Similarly, if taxable turnover exceeds the VAT threshold, the company must register for Value Added Tax (VAT) and file periodic VAT returns. These are separate obligations from accounts and tax returns and should be considered during the first year.
Penalties for Late Filing
Failure to meet filing deadlines can attract financial penalties and interest charges. For example, late filing of annual accounts at Companies House can result in automatic fines, which increase the longer the delay. Similarly, HMRC can apply late filing penalties and interest on unpaid Corporation Tax if CT600 returns or payments are overdue.
Persistent non‑compliance can lead to compliance checks, enforcement action, and reputational harm. Seeking professional support for early compliance is often valuable for new directors.
Common Questions
Does a Dormant Company Still Have Filing Obligations?
Yes. Even if the company has not traded, annual accounts and a confirmation statement still generally need to be filed with Companies House. HMRC may not require a CT600 if the company remains dormant for tax purposes, but the company must confirm the dormant status with HMRC in time.
Can You Change the Accounting Reference Date?
Yes, companies may apply to change their accounting reference date by filing Form AA01 with Companies House. Adjusting the ARD can help align tax and financial reporting, although this may affect when returns and payments are due.
What Happens If My First Financial Year Is More Than 12 Months?
A first financial year often extends beyond 12 months because of how Companies House sets the ARD. While accounts may cover the full period up to the ARD, tax accounting periods cannot exceed 12 months, which is why multiple CT600 filings are common in the first year.
Key Takeaways
In the first year of trading, a company in England and Wales must meet several statutory filings. These include preparing annual accounts and filing them with Companies House within 21 months of incorporation, submitting Company Tax Returns (CT600) with HMRC within 12 months after each accounting period, and meeting corporation tax payment deadlines. Companies must also file a confirmation statement annually, register for Corporation Tax shortly after trading begins, and maintain accurate accounting records. Understanding these obligations and deadlines helps directors comply with corporate and tax law and avoid regulatory penalties.
