BC Easyfiler - Tax Guide

What Accounts do I need to supply to HMRC

HMRC require whichever accounts you are required to produce either by law or by their constitution. Companies and to a certain extent charities are heavily regulated in the accounts they must produce, other organisation which may need a corporation tax return such as unincorporated clubs and societies may only require simple accounts.

All companies are under a legal responsiblity under The Companies Act 2006 to produce accounts. Owner managed companies sometimes forget that the key element of the limited liability company is that it gives owners that do not manage the company a framework for their protection. With no outside investors to satisfy, owner managed companies may disregard this and concentrate more on the Companies House requirements. The main difference between these filleted accounts and full accounts is that Companies House is only interested in a company's assets (the Statement of Financial Position or Balance Sheet), wheras HMRC want to know how much money you have made (The Income Statement or Profit and Loss account).

Most companies will need to produce accounts in iXBRL format, although some organisations may not need to because an iXBRL taxonomy is not available. These rules are summarised in the table below.

Type of organisation Type of accounts Requirement
UK Incorporated Company FRS102 (UK & Ireland companies)
FRS105 (microentities)
IFRS (International companies)
UK GAAP (UK companies pre 2016)
Charity SORP (income > 6.5m)
Trading arm of charity
iXBRL Accounts
Real Estate Investment Trust iXBRL Accounts
plus financial statments under CTA2010 as pdf
Life Insurance iXBRL Accounts
plus FSA return as pdf
Charity SORP (income < 6.5m) PDF Accounts
Foreign incorporated Company
(UK Resident)
iXBRL Accounts
Other Standards PDF Accounts
Foreign incorporated Company
(UK Branch)
UK Balance Sheet prepared iXBRL UK Accounts
UK Balance sheet not prepared Worldwide Accounts as PDF
UK Accounts form part of Computations
Clubs and societies Any PDF Accounts
Unincorporated Charities Charities SORP
Charities Act 2006
PDF Accounts
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