What are limited company accounts, exactly? If you’ve just had a reminder from Companies House and you’re not entirely sure what you’re supposed to do about it, this is written for you.

What limited company accounts actually are

Limited company accounts are a formal summary of your company’s financial activity over the year. They show what the company earned, what it spent, what it owns and what it owes. They are not just for you. They are a legal requirement, and two separate organisations want to see them.

First, Companies House requires you to file a set of statutory accounts every year. These become part of the public record, so anyone can look them up. Second, HMRC needs the same financial data to calculate your Corporation Tax bill. Both deadlines are real, and both carry penalties if you miss them.

What you actually need to file, and when

There are three things most small limited companies file each year: statutory accounts to Companies House, a Corporation Tax return (CT600) to HMRC, and a Confirmation Statement to Companies House confirming your company details are up to date. The accounts and the CT600 cover the same financial period but land with different organisations on different timelines.

For most private limited companies, you have nine months from the end of your accounting period to file accounts with Companies House. Your Corporation Tax return goes to HMRC within 12 months of the same period end. Your first set of accounts as a newly incorporated company has a slightly different deadline, so it is worth checking your specific dates on the Companies House portal rather than assuming.

Do you actually need an accountant for limited company accounts?

Technically, no. You can prepare and file your own accounts. In practice, most directors find it harder than expected, particularly once Corporation Tax, director salary calculations, dividends and allowable expenses come into the picture. A mistake in the accounts does not just affect your Companies House filing. It can mean you pay the wrong amount of tax, or miss a deduction you were entitled to.

The question I hear most often is whether accountant fees are worth it. Accountancy fees for limited companies are a tax-deductible company expense, which means the real cost is lower than the invoice. As of 2025, 44% of UK limited companies are run by a single director with no other employees. Those are the businesses that tend to feel the admin most sharply, because there is nobody else to hand it to.

What happens if you miss a filing deadline?

Late filing penalties are automatic. Companies House does not send a warning first. The penalty starts at £150 for being up to one month late and increases from there. If your accounts are consistently late, the penalty doubles on the second offence in a five-year period.

The bigger risk is not the fine itself. It is the knock-on effect. Late accounts can flag your company to HMRC for a tax enquiry, damage your credit profile and, in some cases, lead to a director disqualification investigation if it becomes a pattern. None of that happens to directors who file on time. It sounds obvious, but a surprising number of small company directors only discover the deadline has passed when the penalty letter arrives.