─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

First Year Accounts for Limited Company in Paisley, Prepared and Filed by People Who Do This Every Day

A newly incorporated limited company has statutory accounts obligations that start earlier than many directors expect. The first accounting period normally begins on the date of incorporation and runs to the company’s first accounting reference date, and the statutory accounts covering that period are usually the first set the company delivers to Companies House. Micro Entity Accounts supports directors in Paisley with that process from the ground up: reviewing the accounting records, preparing the balance sheet and profit and loss account where applicable, and helping with the Companies House filing where one is required. Corporation Tax is a separate matter handled with HMRC, so where a company has a CT600 to submit, that sits alongside the accounts rather than replacing them. Whether you have been trading for months or have barely started, getting the first set of accounts right sets the pattern for every year that follows.

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First Year Accounts Preparation

(Turnover up to £100K)

£499.00

£399.00

+vat

Micro-Entity Accounts Preparation
Companies House Filing
Corporation Tax Return
Qualified Accountant Support
FRS 105 Accounts
Experienced Accountants

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Trusted by Micro-Entity Businesses Across the UK

From newly incorporated companies to established owner-managed businesses, our clients trust us to prepare their accounts accurately and handle their annual filing requirements.

      EXCELLENT  
   Based on 302 reviews 
    
 
 
 
   
 
 
       Posted on Google  
   
   Ayotunde Rufai 
 
 
 
 Trustindex verifies that the original source of the review is Google. Best accountants we've ever had. Umer is ace, and makes everything easy and transparent.
  
 
      Posted on Google  
   
   Sofia 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a really positive experience with Muhammad. He was incredibly quick to action everything and made the whole process straightforward and stress-free. He took care of everything promptly and kept me informed throughout, which was greatly appreciated.

Muhammad was professional, responsive and genuinely helpful from start to finish. It was clear that he cared about providing a great service and making sure everything was handled properly. I would definitely recommend him to anyone looking for someone reliable, efficient and professional.
  
 
      Posted on Google  
   
   Zest For Life 
 
 
 
 Trustindex verifies that the original source of the review is Google. I worked with Accotx on a HMRC reclaim and overall, they did ultimately deliver on their promise, which I appreciate. The process did take longer than any of us expected, partly due to external delays with the tax authorities, and partly because there were some hiccups in communication and follow-up. However, despite those challenges, they stayed professional and stuck to the original agreed terms. If you’re considering using them, be prepared to stay in regular contact to keep things moving along. They are absolutely capable, have the expertise and willing to work with you, and overall  improving their services over time. I would certainly return for any future needs.
  
 
      Posted on Google  
   
   Pete Wrist 
 
 
 
 Trustindex verifies that the original source of the review is Google. Sterling work. Many thanks to Muhammad and the team for all their help and expertise
  
 
      Posted on Google  
   
   Hansen Personal Training 
 
 
 
 Trustindex verifies that the original source of the review is Google. We have been a client for years - very quick responsive and personalised service
  
 
      Posted on Google  
   
   Jamie Fletcher 
 
 
 
 Trustindex verifies that the original source of the review is Google. It was a pleasure working with Anum on our accounts. The whole process was swift and effortless, and it was one less thing to worry about. I'd highly recommend them.
  
 
      Posted on Google  
   
   Mansur Liman 
 
 
 
 Trustindex verifies that the original source of the review is Google. Accotax have been our accountants for many years now. We maintained them, because of their professionalism. In the last coiple of years, i have working with Imran, who has been very professional and helpful in guiding us through the whole process explaining and clarifying every aspect of it. Very prompt in responding to questions and patient with us even when we seem to be slow. I really enjoy working with him. Thank you
  
 
      Posted on Google  
   
   Muna Mohamoud 
 
 
 
 Trustindex verifies that the original source of the review is Google. I highly recommend Imran to anyone looking for a reliable and knowledgeable accountant. He helped me sort out a very complicated backlog of accounts and prepared my overdue tax returns with professionalism and attention to detail.

Throughout the process, he was incredibly patient, took the time to answer all of my questions, and explained everything clearly. He guided me through each step and helped rectify issues that had built up over time, making what felt like an overwhelming situation much more manageable.

I'm very pleased with the service I've received and truly appreciate his support. If you need help with your accounts or taxes, I would highly recommend Imran.
  
 
      Posted on Google  
   
   Sergey M 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a positive experience with Accotax. The work was completed promptly, my tax return was successfully filed, and I received a refund of overpaid tax. I found the cooperation efficient and helpful. Special thanks to Muhammad Saifullah for his assistance.
  
 
      Posted on Google  
   
   Ebba Qureshi 
 
 
 
 Trustindex verifies that the original source of the review is Google. Fabulous team at ACCOTAX - very efficient and good response time . Honest and professional with their work. I would highly recommend them even if you’re a young start up - or a large business they have it covered .

Your first filing timeline

Incorporation

Your first filing timeline depends on your company's incorporation date and accounting reference date.

Accounting reference date

Set by default to the last day of the month of incorporation, one year on.

First accounts due

Normally 21 months after incorporation at Companies House.

First CT600 due

12 months after the end of the accounting period, with tax due earlier.

What Are First Year Accounts for a Micro Company, and How Do They Fit a New Limited Company in Paisley?

First year accounts are the initial set of statutory accounts a limited company prepares after incorporation. They cover the company’s first accounting period, which generally begins on the incorporation date and ends on the company’s first accounting reference date. Because the accounting reference date depends on the incorporation date and on how Companies House sets that date, the first period is not always a neat twelve months and should be confirmed for each company rather than assumed. Once prepared, the statutory accounts are produced for the company’s members and, where required, delivered to Companies House. Some newly incorporated companies meet the eligibility tests to report as micro-entities. Where they do, the micro-entity accounting framework applies, along with FRS 105, the financial reporting standard for qualifying entities using that framework. Eligibility is assessed for the relevant accounting period and is not automatic — being new or having limited activity does not by itself make a company a micro-entity. If a company does not qualify, small-company or fuller reporting requirements may apply instead, and the correct framework should be confirmed before the accounts are drafted. It is equally important to be clear about what first-year accounts are not. They are not a Corporation Tax Return. A CT600 is submitted to HMRC where applicable, and HMRC deals with the company’s Corporation Tax position — filing accounts with Companies House does not submit a CT600 for you. Nor do first-year accounts replace the confirmation statement, which is a separate filing that keeps the company’s details on the public register current. Accounting records, and any VAT or payroll records a company keeps, support the preparation of the accounts but are not the same document. Directors also remain responsible for making sure the company meets its filing obligations, even when an accountant is engaged to help prepare and submit the information.

Does Your New Company Qualify as a Micro Entity?

Even in your first period, your company must meet the Companies House size criteria to file micro-entity accounts. A company generally needs to meet at least two of these three conditions.

Business Turnover

Annual Turnover of £1 Million or less. (£632,000 previously)

Balance Sheet

Balance sheet total of £500,000 or less.(£316,000 previously)

Company Size

On an average 10 or less employees (10 or less previously)

─── OUR FIRST YEAR SERVICES

What's Included in Our First Year Accounts Service?

Our first-year accounts package can include statutory accounts preparation, Companies House filing and Corporation Tax Return preparation where included in the selected package.

First Year Accounts Preparation

Preparation of your first set of statutory accounts under the micro-entity reporting framework, from incorporation to your first year end.

First Accounting Period Review

Review of extended first accounting periods and any separate Corporation Tax return periods where applicable.

Companies House Filing

We prepare and submit your first statutory accounts to Companies House within the filing window.

First Corporation Tax Return (CT600)

Preparation of your first Company Tax Return and supporting computations for HMRC.

Opening Balances & Set-Up Costs

We record pre-trading expenses, director loans and share capital correctly in your opening balance sheet.

─── WHY CHOOSE US

Why Choose Us

Micro Entity Accountants keep micro-entity accounts straightforward, transparent and easy to manage for busy company directors.

FRS 105 Specialists

The micro-entities regime is all we do, so your accounts are prepared to the right standard first time.

Paperless Onboarding

Get set up in minutes with a fully digital, secure process — no printing, posting or office visits.

Deadline Management

We track your Companies House and HMRC deadlines and prompt you early so late filing penalties are avoided.

Fixed Fee, No Surprises

One transparent fixed fee covers preparation, the tax return and both filings. No hourly billing.

Included in every first year file

Confirmation of your accounting reference date

Split Corporation Tax Returns where the period exceeds 12 months

Pre-trading and formation costs reviewed

Share capital and director loan account set up

Companies House and HMRC submission receipts

─── How It Works

How Our First Year Accounts Filing Service Works

Share Your Company Details

Send us your incorporation date, accounting reference date, bank statements and any pre-trading costs through our secure portal.

First Accounts & Tax Return Prep

We build your opening balances, prepare your micro-entity accounts and your first CT600 Corporation Tax Return.

Review & Approval of Drafts

You receive draft accounts with plain-English explanations of what has been included and why, ready for director approval.

Submit to HMRC & Companies House

We file your first accounts with Companies House and your CT600 with HMRC, then confirm both submissions.

─── Why Choose Us

Why Choose Us for Your First Year Accounts?

We keep a first filing simple, transparent and easy to manage for directors doing it for the first time.

Paperless Onboarding

Get your new company set up on a fully digital, secure accounting process in minutes.

First-Year Compliance Support

We help you understand the accounting period, records and filing requirements that apply to your company's first accounts.

Fully Qualified Accountants

All work is handled by UK-qualified accountants who specialise in micro companies.

Fixed Fee, No Hidden Costs

One simple fee covering your first accounts preparation and both filings.

─── WHO WE HELP

First Year Accounts Support for Micro Companies Across the UK

Newly Incorporated Companies

Companies formed in the last 12 to 18 months filing their very first set of accounts.

First-Time Directors

Directors who have never filed statutory accounts and want the process explained clearly.

Newly Incorporated Limited Companies

Small companies with limited first-year trading, including those that stayed dormant part of the period.

First Year Accounts for Limited Company in Paisley: Accurate Drafting and Straightforward Filing Support

Most directors approaching their company’s first accounts are less worried about the arithmetic and more worried about the unknowns: which accounting period actually applies, what records need to be pulled together, which reporting framework fits, and what has to go to Companies House. Micro Entity Accounts works through those questions with you before anything is drafted, so the figures you file reflect what genuinely happened in the company rather than an assumption about it. We help prepare the statutory accounts, review the supporting records, work out whether the micro-entity or small-company framework is the right fit for the period, and support the Companies House filing where one is required, keeping the separate Corporation Tax position clearly in view. If you are a director in Paisley facing a first set of accounts with no clear starting point, that is exactly the right moment to get professional help involved.

─── FAQs

First Year Accounts FAQs

Still unsure where you stand? Reach out to our UK team at info@microentityaccounts.co.uk and we will review your filing history with you.

What are first year accounts for a limited company?

They are the first set of statutory accounts a company prepares after incorporation, covering the initial accounting period. That period normally runs from the date of incorporation to the company's first accounting reference date. The accounts usually include a balance sheet, and a profit and loss account where applicable, and are produced for the company's members. Where required, they are also delivered to Companies House. They are separate from any Corporation Tax Return, such as a CT600, which is submitted to HMRC where applicable.

When are a new company's first accounts due?

The deadline depends on the company's incorporation date, its accounting reference date and the applicable Companies House requirements, so it is not the same for every company. Companies House generally allows a longer period for a first set of accounts than for later years, but the only reliable way to know your date is to check the company's own records rather than assume. If you are unsure, we can help confirm the position for your company before the deadline becomes an issue.

What information is needed to prepare first-year accounts?

It depends on what the company has actually done during the period. Typical items include bank statements and transactions, sales or income records, purchase invoices and business expenses, asset purchases, director transactions, share capital details, and any loans or finance agreements. Where the company runs payroll or is VAT registered, the relevant payroll and VAT records will also be useful. There is no requirement for every company to have all of these — the aim is simply to build a complete picture of the period and to keep the supporting records that back it up.

Do new limited companies have to file accounts with Companies House?

In most cases, yes — first-year statutory accounts are generally filed with Companies House where required, even if the company has had limited activity or has not yet started trading. The exact position depends on the company's circumstances and the relevant rules rather than on an assumption that a quiet first year can be ignored. Preparing the accounts and delivering them are two different steps, and both form part of the company's compliance responsibilities.

Are first-year accounts the same as a CT600?

No. They serve different purposes and go to different places. Statutory accounts go to Companies House where required, while a Corporation Tax Return such as a CT600 is submitted to HMRC where applicable. Filing one does not complete the other. The figures in the accounts are often used as a starting point when working out the company's Corporation Tax position, and the two accounting periods do not always line up exactly, so it is worth treating them as separate tasks with separate deadlines.

Does a new company still need to file accounts if it has not traded?

A company can still have statutory filing obligations even where activity has been minimal or trading has not begun. What that means in practice depends on the company's specific circumstances and the applicable rules, and it is not automatically treated as dormant. If your company has had no significant transactions, it is worth taking advice on how the period should be reported rather than leaving the position unresolved. Directors in Paisley in this situation often find it easier to sort out early than to correct later.

Can a new limited company qualify for micro-entity accounts?

Some do, but qualification is not automatic and being newly incorporated is not in itself the test. Eligibility is assessed against the applicable requirements for the relevant accounting period. Where a company qualifies, the micro-entity framework applies along with FRS 105. Where it does not, small-company or fuller reporting requirements may be more appropriate. It is worth confirming which framework fits before the accounts are drafted, as it affects how the figures are presented.

What happens if first-year accounts are filed late?

Failing to deliver required accounts by the applicable deadline can lead to Companies House consequences, and those consequences are not necessarily the same in every case. Paying any penalty does not remove the obligation to file the outstanding accounts — the filing still has to be made. Where an appeal is being considered, eligibility depends on the circumstances and the applicable rules. The most practical step, if accounts are already overdue, is to get them prepared and filed as soon as possible and to take advice on the position.