First Limited Company Accounts longer than 12 months?

When you set up a limited company, one of the first filing obligations you’ll face is preparing your annual accounts. But many new directors are surprised to find that their first Limited Company Accounts usually cover more than 12 months. Here’s why — and what it means for you.

Why Are First Limited Company Accounts longer than 12 months?

When your company is incorporated, Companies House automatically sets your financial year end as the last day of the month your business was formed.

For example:

If your company was incorporated on 10 June 2024, your first accounting period will run until 30 June 2025.
That’s 12 months and 20 days — longer than a standard year.

How long can the first Limited Company Accounts Be?

Your first accounts can cover up to 18 months. This happens because:

Companies House allows a little flexibility in the first year.
Aligning your year end with the end of a calendar month makes filing dates easier to manage.

What About Corporation Tax?

Here’s where things get a bit trickier. HMRC only accepts accounting periods of 12 months or less for corporation tax.

So if your first accounts are, say, 14 months long, you’ll need to file:

One set of annual accounts at Companies House, and
Two corporation tax returns with HMRC:
- One covering the first 12 months
- One covering the remaining 2 months

This often comes as a surprise to new directors.

Deadlines to Remember

Companies House filing deadline: 21 months after incorporation
Corporation tax return deadline: 12 months after the end of the accounting period
Corporation tax payment deadline: 9 months and 1 day after the end of each accounting period

Missing these deadlines can mean penalties, so it’s vital to plan ahead.

Can You Change Your Year End?

Yes. You can apply to Companies House to shorten or extend your financial year. Many businesses choose to align their year end with the tax year (31 March) to keep things simple.

Why Get Professional Help?

Your first set of accounts sets the tone for your company’s financial compliance. Getting it wrong can cause unnecessary stress and penalties. An accountant can:

Prepare and file your accounts correctly
Handle the split corporation tax returns
Advise whether changing your year end makes sense
Ensure you meet all Companies House and HMRC deadlines

Final Thoughts

If you’ve just set up a limited company, don’t get caught out by longer first-year accounts. Understanding how the rules work — and planning ahead — will save you time, stress, and possibly money.

📞 Ready to get your first accounts sorted? Contact us today for a free consultation.

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Self Assessment Tax
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If you’re not confident with any of this or don’t have the time, getting a licensed accountant to do it for you can actually save you money. It can free up your valuable time which you can use to concentrate on your business. You can also benefit by knowing it has been done correctly and on time.

Mistakes can be costly.

As can missing deadlines.