How to Stay HMRC-Compliant: UK Tax & Accounting Essentials Explained
Running a UK company comes with responsibilities and the most critical one is staying compliant with HMRC. Non-compliance can lead to hefty fines or business disruption.
1. Register for Corporation Tax
Every UK Limited Company must register for Corporation Tax within 3 months of trading.
2. Maintain Proper Books and Records
HMRC requires you to keep financial records for at least 6 years, including invoices, bank statements, and receipts.
3. File Annual Accounts & Tax Returns on Time
- Accounts: Filed with Companies House within 9 months of year-end.
- Corporation Tax Return: Filed within 12 months to HMRC.
4. Manage VAT Correctly
If your annual turnover exceeds £90,000, you must register for VAT. Even if you’re under the threshold, voluntary registration can help reclaim input tax.
5. Use a Qualified Accountant
Tax laws change regularly. Having an accountant ensures you stay updated, compliant, and tax-efficient.
Final Thoughts
Compliance isn’t optional it’s your foundation for long-term growth. Startitup Global keeps your filings on track and ensures every report meets UK standards, giving you peace of mind while you scale.
