What Are Abbreviated AccountsBack in 2012 we wrote an article on abbreviated accounts and helping Limited Companies submit required reports to Companies House and HMRC.  We thought we would revisit this topic afresh for 2019.

If you run a limited company, you will be required to submit various reports to Companies House and HMRC. This can be tricky, especially with the recent changes to accounts filing requirements over the past few years.  So to help you prepare the right ones under the new legislation, here is a quick guide telling you everything you need to know.

Be aware of the most recent changes

Maybe not so recent but worth a mention is that, since 1st January 2016, UK company law has removed the option for small companies to file an abbreviated version of their full accounts. In short, abbreviated accounts have been abolished but small companies and LLPs can still take advantage of certain reduced filing options in the form of abridged accounts instead.

Another big change in recent years is that ‘the confirmation statement’ has replaced annual returns. Find out more about that below.

Main Reports Required

The following is a brief overview of the main reports required and what they should contain.

Abridged Accounts

If you are a small limited company, a micro-entity or dormant, you may be entitled to file simpler (‘abridged’) accounts to Companies House. The current criteria (as of 2016) for a small company is that