FIRST YEAR END
Before the accounts are finalised, understand the deadlines, check the money you have taken from the company, review potential reliefs and make sure your records are ready.
Grounded in live HMRC, GOV.UK and Companies House data. Five free questions, no card needed.
See the different milestones for accounts, Corporation Tax payment and the Company Tax Return.
This tool is coming soon. Ask WiseMind directly in the meantime.
Review before you file
Year end goes smoother when nothing is a surprise.
Filing your accounts, paying Corporation Tax, and filing your Company Tax Return are three separate deadlines, not one generic ‘year end date’, and they don't all fall on the same day.
When are my first accounts due?
When do I actually have to pay Corporation Tax?
Your first statutory accounts can cover more than 12 months, but a Corporation Tax accounting period can never exceed 12 months. If your first year runs long, HMRC splits it into two Corporation Tax periods, each with its own return.
Do I really need two tax returns for my first accounts?
Why is my tax return due after the tax itself?
Dividends and director's loans taken during the year are worth reviewing before your accountant finds them, not after.
I've taken money from the company during the year. Is that a problem?
Can I pay myself a dividend before year end?
Some costs and activities can qualify for reliefs worth investigating, R&D relief, capital expenditure, and pre-trading expenditure among them.
Not every technology company qualifies for R&D relief, and this isn't an exhaustive list. It's worth checking whether any of it applies to you before the window closes.
Could we qualify for R&D relief?
An accountant or filing software handles the formal preparation and submission of statutory accounts. What you can do now is make sure the information they need is ready.
What do I need to give my accountant?
Real questions founders ask at the first year-end stage.
What actually happens at my first company year end?
When are my first accounts due?
When do I actually have to pay Corporation Tax?
Why is my tax return due after the tax itself?
Do I really need two tax returns for my first accounts?
Could we qualify for R&D relief?
What do I need to give my accountant?
WiseMind helps you understand your deadlines, estimate your tax position, identify areas worth investigating and prepare the right information before formal accounts and filing begin. WiseMind doesn't prepare or file statutory accounts; an accountant or your filing software handles that part.