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UK Private Limited Company – Maintenance

2024-06-26
Q：
 What are the requirements for maintaining a UK Private Limited Company?
A： The Company is required to comply with certain requirements under the Companies Act 2006 and the Customs and Inland Revenue Act 1879. The major ongoing obligations and filling requirements are:
1.
 Maintaining a registered address in the UK;
2. Filing of Confirmation Statement to Companies House;
3. Filing of annual accounts to HM Revenue and Customs (“HMRC”);
4. Filing of Company Tax Return to HMRC; and
5. Filing of value-added tax (“VAT”) return if the Company registered for VAT.

Q：
 What is Confirmation Statement?
A：
 Every UK Private Limited Company including dormant and non-trading company must file a Confirmation Statement with the Companies House every year. The purpose of Confirmation Statement is to confirm the information (e.g. registered office address, Standard Industrial Classification (“SIC”) code, particulars of all directors, secretaries and people with significant control, the number and value of shares issued by the company, etc) of the company is up to date.
Q：
 Does the Accounts need to be audited for the UK Private Limited Company?
A：
 It depends on the size of business of the UK Private Limited Company. If the Company is classified as a “small company”, “micro-entity” or dormant, it is able to prepare a simplified accounts and the said accounts are not required to be audited.
Q：
 When should the UK Private Limited Company submit the annual accounts to HMRC?
A：
 The UK Private Limited Company must prepare annual accounts (also called “statutory accounts”) after the end of its financial year. Unless the Company alter its financial year end (i.e. accounting reference date), the financial year end shall be the last day of the month which its anniversary of incorporation falls. The Company shall file the annual accounts with HMRC within 9 months after the company’s financial year end.
Q：
 When should the UK Private Limited Company submit a Company Tax Return to HMRC?
A：
 The UK Private Limited Company has to file a Company Tax Return if the company receives a ‘Notice to deliver a Company Tax Return’ from the HMRC even the company makes a loss or does not have any tax to pay. The deadline for filing of a Company Tax Return to HMRC is 12 months after the company’s financial year end. 
Q：
 If the UK Private Limited Company applies for VAT, when should the VAT return be submitted?
A：
 Generally, the UK Private Limited Company is required to file the VAT return and make payment of VAT to HMRC quarterly.
Q：
 Is there any way I can check if my UK Private Limited Company is renewed or not?
A：
 The public can obtain the following information to check whether the company has been renewed or not on the website of Companies House:
1.
 The date of last accounts made up;
2. The date of last confirmation statement;
3. All documents filed with Companies House.

Q：
 Do I need to report to the Companies House if there is any change of company structure?
A：
 Refer to the Companies Act 2006, the Company must inform Companies House of any corporate changes. For example:
1.
 Change of officer(s) and/or personal details;
2. Change of the company’s registered office;
3. Allotment of shares;
4. Change of company name;
5. Change of constitution;
6. Change of the financial year end, etc.

Q：
 Does the UK Private Limited Company need to hold annual general meeting each year?
A：
 Refer to the UK Companies Act 2006, the UK Private Limited Company needs to hold an annual general meeting every year.
Q：
 Does the UK Private Limited Company need to appoint an auditor?
A：
 The UK Private Limited Company must appoint an auditor for each financial year, unless the directors resolve otherwise on the grounds that audited accounts are unlikely to be required.

Disclaimer

All information in this article is only for the purpose of information sharing, instead of professional suggestion. Kaizen will not assume any responsibility for loss or damage.

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