UK statutory accounts deadlines, penalties and a simple timeline to avoid fines

What Are Statutory Accounts and Who Must File Them?

For UK founders, juggling product development, fundraising, and sales leaves little time for compliance. The statutory accounts filing deadlines UK startups face can feel like a distant task, until a sharp penalty notice from Companies House arrives. But what exactly are you filing? Statutory accounts are a set of formal financial reports, prepared from your company's records at the end of its financial year. Under the UK Companies Act 2006, all private limited companies must prepare and file them.

These reports typically include a balance sheet, a profit and loss account, and explanatory notes. This is not just about avoiding fines; it is about maintaining good corporate standing and ensuring your financial records are a reliable tool for managing runway, not a source of last-minute stress. For a growing SaaS or Deeptech company, where every pound is critical, unexpected late filing penalties are an unforced error. This guide clarifies the deadlines, the costs of delay, and how to build a repeatable process to stay compliant.

Your UK Statutory Accounts Filing Deadlines

One of the most common points of confusion for founders is the difference between filing your first set of accounts and filing in subsequent years. The rules are distinct, and misunderstanding them is the first step towards an avoidable penalty.

Your First Accounts Filing Deadline

Your first accounts have a more generous timeline to allow your new business to establish its financial processes. The rule is straightforward: your "First accounts filing deadline is 21 months after the date of incorporation." (Citation: Companies House guidance (GOV.UK)). This period covers your first accounting period, which can be up to 12 months long, plus the nine-month filing window.

For example, if you incorporated a new biotech startup on 1 March 2023, your filing deadline is 21 months later, on 31 December 2024. This extended period is a one-time allowance designed to help new companies get organised without immediate compliance pressure.

Your Subsequent Annual Accounts Deadline

After your initial filing, the rhythm becomes a predictable annual cycle. The "Subsequent accounts filing deadline is 9 months after the company's Accounting Reference Date (ARD)." (Citation: Companies House guidance (GOV.UK)). The ARD is your company's financial year-end. For most UK companies, this is the end of a calendar month, often 31 March or 31 December.

If your e-commerce company has an ARD of 31 December 2024, your statutory accounts must be filed with Companies House by 30 September 2025. You can always verify your company's specific dates online, as "A company's ARD and filing deadline can be checked on the Companies House service website." (Citation: Direct link to Companies House search page required.). This date is your anchor for all future financial reporting cycles. If you are near audit thresholds, see our audit exemption guide.

The Cost of Delay: A Predictable Guide to UK Late Filing Penalties

Unlike many business risks, the financial consequences of missing your Companies House filing deadlines are completely predictable and non-negotiable. The penalties are applied automatically, and the costs escalate sharply the longer the delay. This system leaves no room for negotiation; a filing that is one day late incurs the same £150 penalty as one filed 30 days late.

For a private limited company, the charges are set on a clear scale. According to official guidance, "Late filing penalties for private limited companies are: Up to 1 month late: £150; 1 to 3 months late: £375; 3 to 6 months late: £750; Over 6 months late: £1,500." (Citation: GOV.UK 'Late filing penalties' page). For a startup managing a tight runway, a £1,500 penalty is not just a fine; it could be the cost of a key software subscription for a year or a crucial piece of equipment.

The situation becomes more severe for repeat offenders. The rules state that "Penalties double if a company files its accounts late for two consecutive years." (Citation: GOV.UK 'Late filing penalties' page). A scenario we repeatedly see is a fast-growing SaaS company filing two months late in its second year, incurring a £375 penalty. If, in the following year, they again miss the deadline by two months, the penalty for that second year doubles to £750. These fines are a direct and avoidable cash outflow, making avoiding Companies House fines a key part of good financial hygiene.

Securing an Extension: The Reality of the Statutory Accounts Extension Process

Occasionally, unforeseen circumstances can make meeting your deadline impossible. While Companies House has a process for requesting more time, the criteria are narrow and the application must be timely. Critically, "Applications for a filing extension must be submitted before the filing deadline passes, using Form RP01 or the online service." (Citation: Companies House guidance (GOV.UK)). You cannot apply for an extension after your deadline has passed; at that point, a penalty is guaranteed.

The reality for most startups is that extensions are reserved for exceptional, unforeseen events, such as a fire that destroys records or the prolonged, sudden illness of a sole director. They are not granted for common business challenges like your accountant being busy, delays in gathering information from your team, or underestimating the time required for the year-end close. The distinction is crucial. Relying on an extension as part of your standard process is a flawed strategy. The statutory accounts extension process is an emergency measure, not a tool to manage a heavy workload.

A Practical Year-End Accounts Timeline to Meet Filing Deadlines

What founders find actually works is building a simple, structured timeline that starts the day after your Accounting Reference Date (ARD). This transforms the filing from a last-minute scramble into a manageable, multi-step process. For a company with a 31 December year-end, this nine-month plan provides an ample buffer.

1. Months 1–2 (January-February): Finalise Your Books. The work begins immediately after your year-end. This is the time to finalise all bookkeeping for the previous year. Reconcile all bank accounts, credit cards, and payment platforms like Stripe within your accounting software like Xero. Ensure every invoice, receipt, and team expense claim is correctly recorded and categorised.
2. Months 3–4 (March-April): Prepare the Accountant's Pack. Shift from data entry to data preparation. Your bookkeeper or finance lead should prepare a final trial balance. Gather all supporting documents your accountant will need, such as new loan agreements, grant award letters, major customer contracts, or details of any share capital changes.
3. Months 5–7 (May-July): Draft Accounts and Assess Audit Needs. Your external accountant uses your prepared information to draft the full statutory accounts. During this period, you must also assess whether your company requires a formal audit. In the UK, "A company typically requires an audit if it meets two of the following three criteria: >£10.2m turnover, >£5.1m balance sheet assets, >50 employees." (Citation: UK Companies Act 2006). If you are approaching these thresholds, the process takes significantly longer and must start earlier.
4. Month 8 (August): Review, Approve, and Prepare Tax Return. This month is for internal review and finalisation. The company directors must formally review and approve the statutory accounts. Concurrently, your accountant will prepare the company's Corporation Tax return, as the "Corporation tax return is filed using form CT600." (Citation: HMRC). The tax filing and payment deadlines with HMRC are separate from your Companies House deadline.
5. Month 9 (September): File Everything. With all documents approved, it is time to file. Submit the statutory accounts to Companies House and the CT600 to HMRC well before the 30 September deadline. Filing early removes any risk of last-minute technical issues or unexpected delays. See our directors' report checklist for more on required approvals.

A Simple Process to Avoid Companies House Fines

Navigating your UK company accounts requirements does not need to be complex. The key is to treat it as a process, not a single event. First, identify your specific filing deadline on the Companies House service and put it in your calendar with reminders. Second, understand that the penalties for being late are automatic and non-negotiable, doubling for a second consecutive miss. Finally, build a simple year-end accounts timeline starting the month after your ARD. By starting early and working methodically, you can ensure compliance, avoid unnecessary costs, and maintain a clean financial record for investors and stakeholders. For a deeper overview, see our topic hub on Statutory Financial Reporting.

Frequently Asked Questions

Q: What is the difference between Companies House and HMRC deadlines?
A: The Companies House deadline is for filing your statutory accounts, typically 9 months after your year-end. The HMRC deadline is for your Company Tax Return (Form CT600), which is usually 12 months after your accounting period ends. The deadline to pay your Corporation Tax is generally earlier, at 9 months and one day after your year-end.

Q: What happens if my company is dormant?
A: Even if your company is dormant (not trading), you must still file accounts with Companies House. However, you can typically submit much simpler "dormant accounts." Failure to do so will still result in the same automatic late filing penalties as an active company.

Q: Can I change my company's Accounting Reference Date (ARD)?
A: Yes, you can change your ARD to shorten or lengthen your accounting period. You can typically only lengthen it once every five years. This must be done before the filing deadline for the period you are changing, and it can be a useful way to align your year-end with that of a new parent company or a specific business cycle.

Q: Do I still have to file accounts if my company made a loss?
A: Yes. All active private limited companies in the UK must file statutory accounts every year, regardless of whether they made a profit or a loss. The requirement to file is based on the company's status as an incorporated entity, not its profitability. This financial record is crucial for transparency with stakeholders.