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Services > Accounting Services

UK Company Accounting

All UK incorporated companies must file accounts with the Registrar of Companies (Companies House) and a tax return with H M Revenue and Customs (HMRC formerly Inland Revenue). This applies to dormant (non-trading) or trading companies, tax resident or non-resident.

A company will fall under one of two categories for accounting purposes: Trading or Dormant.

Dormant Accounts and a nil tax return can be filed, if the company was not trading during the accounting year. In general terms, ‘trading’ refers to issuing invoices and receiving income in the company’s name.

For companies which are classed as dormant, you will be asked to provide a declaration of “Dormant Status” for the company. We will clarify all such details with you at the renewal stage of the company.

Trading Accounts and a Corporation Tax Return will need to be prepared and filed for any company that has had any trading activity during the fiscal year. If the company is trading with an annual turnover (sales) of less than £1,000,000, then Small Company accounts will be prepared by a UK accountant.

If the company is trading with an annual turnover (sales) of more than £1,000,000, we will need to prepare more complex accounts. Further details can be obtained from our offices.

Audited accounts are only required for companies with sales in excess of £5, 600,000 per annum.

A company which is VAT registered, and showing activity through its quarterly VAT returns will need to prepare trading accounts.

Appleton Company Services Limited will contact you at the end of each accounting year to remind you of these formalities and assist you in preparing the necessary filings.


Corporation Tax is payable on company profits. Profits are defined as income (turnover, sales) less expenses.


The Corporation Tax Rates for the year ended April 2010 are:

Profits Tax Rate
First 300,000 21%
Next 1,200,000 29.75%
Over £1,500,000 28%

The Corporation Tax Rates for the year ended April 2011 are:

Profits Tax Rate
First 300,000 21%
Next 1,200,000 29.75%
Over 1,500,000 28%

Cyprus Company Accounting

According to Cyprus tax law, companies are obliged to keep accounting books and records and prepare financial statements complying with International Financial Reporting Standards. These are then audited by a qualified auditor and the tax declarations based on the audited financial statements are then filed with the authorities. This is done on an annual basis with the accounting/financial year-end being 31st December. A copy of the financial statements is also filed with the Registrar of Companies. Failure to do so will result in the company being struck off.

The statutory corporate income tax rate in Cyprus is 10%.

Appleton Company Services Limited will contact you at the end of each accounting year to remind you of these formalities and assist you in preparing the necessary filings.

In order to prepare the financial statements and tax declarations, you will be asked to provide a number of items to the accountants. A full list is available on request.

Gibraltar Company Accounting

To be confirmed shortly.

Latvian Company Accounting

Accounting requirements for Latvian SIA (companies) are required to be prepared on a monthly basis. Salary tax, state social insurance payments, personal income tax as well as business risk duty should also be filed on a monthly basis. Even if a company remains dormant, the monthly reporting must still be fulfilled from the month of registration.

Annual reports are submitted to the State Revenue Service. The deadline for the Annual Reporting is April 30th however there may be a few exceptions.

Audited accounts are prepared if a company fulfils 2 out of the 3 following criteria:

i) Company balance sheet total value exceeds 100 000 LVL.
ii) Annual net turnover exceeds 200 000 LVL.
iii) Average number of employees during the financial year exceeds 25.

The company’s annual reports are available on Public file.

     
 
 

 

   
Appleton Company Services Ltd ® - Company reg no 02593473 - VAT number 538754606
Registered in the United Kingdom - Registered office address: Studio G3, Grove Park Studios, 188-192 Sutton Court Road, London, W4 3HR.
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