Budget 2026: what it means for you and your business —
In short
Every UK limited company must file annual accounts with Companies House — generally within nine months of its accounting reference date, or 21 months after incorporation for a first set. Late filing attracts automatic penalties from £150 to £1,500, and the penalty doubles if you file late two years running. LMJ Group prepares and files your statutory accounts under FRS 102 or FRS 105, correctly and early.
For a private company, accounts are generally due at Companies House nine months after your accounting reference date. For a first set of accounts, the deadline is 21 months after incorporation.
Separately, your corporation tax is payable nine months and one day after the period end, and the CT600 return is due twelve months after it. So the tax is payable *before* the return is due — which is the single most common cash-flow surprise for new directors.
You can check your exact dates with our free Company Filing Deadline Checker.
Companies House applies automatic penalties, with no discretion and no reminder:
– Up to 1 month late: £150 – 1 to 3 months: £375 – 3 to 6 months: £750 – More than 6 months: £1,500
The penalty doubles if you file late in two consecutive years. Persistent default can lead to strike-off action against the company, and directors can face disqualification. Late accounts also flag your company to credit agencies, which affects your ability to obtain credit and win contracts.
FRS 105 for micro-entities — the simplest regime, with minimal disclosure. FRS 102 (Section 1A) for small companies — reduced disclosure. FRS 102 in full for medium and large companies.
Which applies depends on your size classification, and your size classification depends on turnover, balance sheet total and employee numbers. We determine your position and prepare accordingly — and tell you if a change in size is likely to move you between regimes.
Revised FRS 102 requirements on revenue recognition and lease accounting apply to accounting periods beginning on or after 1 January 2026.
The lease change matters most: many leases that previously sat off balance sheet now come on to it. That increases your balance sheet total — which can, in turn, push a company over a size threshold and change its reporting regime or its audit position.
If you are anywhere near a threshold, this needs modelling now, not when the accounts are prepared.
Filed early, never late — deadlines are systematised, not left to memory.
Accounts that read well — your filed accounts are public, and we prepare them accordingly.
FRS 102 changes modelled — including the effect of leases on your size classification.
We explain the numbers — a meeting, not just a PDF and an invoice.
Chartered (ICAEW) since 1947.
This page provides general information about the 2026/27 UK tax year and is not advice on your particular circumstances. Tax and regulatory rules change frequently. Please contact us before acting, or refraining from acting, on anything set out here. LMJ Group is a firm of Chartered Accountants regulated by the ICAEW. LMJ Group is not a registered auditor and does not provide audit services. Last reviewed: July 2026.
