First-year accounts for limited company in Beauly

First-year accounts for new Beauly companies

Your first accounts normally cover a little over twelve months, running from the day you incorporated to your accounting reference date, and the period can never be longer than 18 months. For most companies the first accounts are due 21 months after incorporation. You must also register for Corporation Tax within three months of starting to trade.

First company accounts for Beauly businesses: local facts

Beauly is in the Highland council area, in Scotland. Highland has around 11,105 VAT- and PAYE-registered businesses, and 9,830 of them, about 89%, have fewer than ten employees (ONS UK Business Counts, 2026). That is the group the micro-entity rules were written for.

The largest groups of micro businesses in Highland are agriculture, forestry and fishing (2,190), construction (1,540) and wholesale and retail (1,070). If you work in agriculture, forestry and fishing in Beauly, seasonal income, grants and farm equipment need careful year-end treatment, so we tie your accounts to bank records and an asset register. That puts agriculture, forestry and fishing at 22% of the local micro-business base.

Highland ranks 307 of the 1105 areas we serve by number of micro businesses, and its micro share of 89% is in line with the 89% average across them. In construction (1,540 micro businesses in Highland), Construction Industry Scheme deductions, retentions and stage payments can distort profit, so we reconcile your CIS statements before the accounts are prepared. In wholesale and retail (1,070 micro businesses in Highland), closing stock and the VAT treatment of different product lines are the usual pressure points, so we value stock carefully and check your VAT records.

Scottish companies are registered with Companies House in the same way as English ones and the filing deadlines are identical. Scottish income tax bands apply to salary, but dividends and Corporation Tax follow UK rules.