20/10/2026
Businesses need to prepare year end accounts to help the owner understand their financial performance and also to meet their legal obligations to file accounts at Companies House, with HMRC and for registered charities with Charity Commission. Your annual accounts can help you to monitor the performance of your business and identify areas performing well and those areas of concern and needing improvement.
COMPANY ACCOUNTS
If your business trades through a limited company, whether a private for profit company or a not for profit company you will need to file accounts with Companies House. You will also need to file the same accounts with HMRC in their required format within 9 months of your financial year end.
SOLE TRADERS
If you trade as a sole trader or partnership you will need to prepare accounts for HMRC as well as for your own records.
If you are a sole trader your accounts will need to be prepared as part of your self-assessment tax return and submitted in time with the tax year end filing deadline of the 31st January following the tax year ending 5th April.
HMRC
There are complex regulations governing how your accounts are presented to ensure they meet Companies House and HMRC filing and data requirements and that your tax is correctly calculated.
Late filing incurs penalties and inaccurate accounts and business records can cause incorrect tax to be paid and financial difficulties in the future.
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https://adventaccountants.co.uk/services/accountancy/year-end-accounts/