2019 Review of UK
Company Formations
669,855 new businesses were formed in the UK in 2018.
View in depth statistics on the UK as a whole or choose a county on the map.
Companies Formed in...
Frequently Asked Questions View all FAQs
How does Inform Direct help me get my accounts right first time?
The process of preparing and filing your accounts is made simple with Inform Direct. Follow our simple wizards as we take you step by step through the process. You’ll be prompted to enter only the details that you need to and if you are unfamiliar with preparing company accounts there are comprehensive help texts to guide you. Using Inform Direct you can file dormant company and micro-entity accounts.
Beautifully streamlined process
Whenever our system can step in and remove a task it will. Our software calculates the balance sheet date, automatically provides the required statutory balance sheet statements, and presents accounts that both meet requirements and look professional. If you are preparing never-traded dormant company accounts you may only have to check the automatically populated details are correct, tick to confirm the balance sheet statements apply, enter the date the accounts were approved and select from a list the name of the director that is authorising the accounts. It’s that simple.
Once you are happy with the accounts you have prepared you can choose to submit them electronically to Companies House. You will receive immediate confirmation of their safe delivery and an email notifying you of their approval as soon as this is received. Your accounts are automatically saved in your Document Library.
Avoid errors
Each year Companies House reject almost 100,000 sets of accounts, often due to simple errors and omissions such as:
- incorrect or absent company name or number;
- authorising signatory missing from the balance sheet;
- incorrect or absent balance sheet date;
- omission of balance sheet approval date;
- incorrect statements on the balance sheet; or
- missing figures on the balance sheet.
If you complete your company accounts using Inform Direct then you will benefit from the checks we have built into our software that prevent the above errors.
Never miss the filing deadline
Inform Direct will send you reminders as your filing deadline approaches, helping you submit your accounts on time and avoid automatic fines for late delivery.
What type of company accounts can I prepare and file using Inform Direct?
Currently you can use Inform Direct to prepare and file the following types of company accounts:
- Never-traded dormant company accounts;
- Audit-exempt micro-entity company accounts.
Will you supply me with a copy of the company accounts submitted?
Yes. Once you have confirmed and submitted your company accounts they will be available to you as a pdf document in your Document Library, ready to print or file. As soon as Companies House has approved your accounts we will confirm this and also attach a copy of the approved accounts to this email.
How long will Companies House take to approve my accounts?
This is dependent upon the volume of applications received by Companies House at any one time, but dormant and micro-entity company accounts are often processed within 24-48 hours of submission.
Can I prepare and file company accounts denominated in a foreign currency?
Yes. Currently you can use Inform Direct to prepare and file company accounts in the following foreign currencies:
- Euros
- US Dollars
- Swiss Francs
- Swedish Krona
- Norwegian Krona
- Canadian Dollars
- South African Rands
- Australian Dollars
If you would like to prepare and file company accounts denominated in a foreign currency not listed above, please contact us as we may be able to accommodate your request.
What is the deadline for filing accounts with Companies House?
This is dependent upon whether you are filing your company’s first accounts or subsequent accounts.
If you are filing the first accounts for your company then you must deliver your company accounts to Companies House:
- within 21 months of the date of incorporation for private companies; or
- within 18 months of the date of incorporation for public companies; or
- within 3 months of the accounting reference date.
You may take whichever deadline is longer.
If these are not your company’s first set of accounts then the following deadlines would normally apply:
- within 9 months after the accounting reference date for private companies; or
- within 6 months after the accounting reference date for public companies.
Remember that if you fail to deliver your company accounts to Companies House within the time allowed then the company will be subject to an automatic late filing penalty.
Never miss the filing deadline
Inform Direct will send you reminders as your filing deadline approaches, helping you submit your accounts on time and avoid automatic fines for late delivery.
What penalties will I face if I miss my company accounts filing deadline?
If you deliver your company accounts to Companies House after the filing deadline, an automatic late filing penalty will be imposed on the company. The level of the penalty is dependent upon how late the accounts are delivered to Companies House. Companies House provide an online guide giving full details of the late filing penalties that may be imposed on a company. Note that late filing of the accounts for two years in a row will result in a doubling of the penalties imposed.
In addition to the automatic civil penalties imposed on the company, late filing of the annual accounts is a criminal offence and can result in the directors facing personal prosecution and a fine of up to £5,000 each. Continual failure to file accounts may also result in the company being struck off the register and dissolved.
What type of dormant company accounts can I file using Inform Direct?
Companies House provides a standardised template (Form AA02) for the simplest dormant companies and you can file this online using Inform Direct. Our intelligent software will guide you step by step through completion of Form AA02 before submitting it electronically to Companies House for you.
Your company will only be eligible to file dormant company accounts using Form AA02 if it is a private company limited by shares or guarantee and meets all of the following criteria:
- it has never traded (since incorporation);
- the only transaction entered into the accounting records of a company limited by shares relates to the issue of subscriber shares (that is the shares issued when the company was first formed);
- it is not a subsidiary; and
- it does not prepare accounts using International Accounting Standards (IAS).
What types of company can use Inform Direct to prepare and file micro-entity accounts?
Inform Direct currently enables private companies limited by shares, incorporated in England and Wales, Scotland, and Northern Ireland to prepare and electronically file micro-entity company accounts.
Future versions of Inform Direct will also enable other company types to prepare and file micro-entity accounts, including:
- Companies limited by guarantee
- Limited Liability Partnerships
The following company types cannot file micro-entity accounts because they are excluded from doing so by legislation:
- Public Limited Companies
- Companies registered overseas
- Most group companies
- Charitable organisations
Can I get approval before completing micro-entity company accounts?
Yes. You are able to save all the details you have entered into the micro-entity accounts wizard and generate draft accounts for approval. Then, following approval (from your client, or internally) you can simply pick the process back up and complete it – submitting the required pages of the accounts to Companies House as appropriate and creating finalised accounts for distribution to company shareholders.
If you are an Inform Direct subscriber you can also choose to produce micro-entity company accounts stamped with a range of watermarks, including ‘Draft’, ‘Client Copy’, ‘File Copy’ and ‘For Approval’.
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