First-year accounts for limited company in Buxted

First-year accounts for new Buxted 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 Buxted businesses: local facts

Buxted is in the Wealden council area, in the South East region. ONS figures for 2026 count 8,725 VAT- or PAYE-registered businesses in Wealden, and 7,970 of them (91%) employ fewer than ten people. Many are small enough to use the micro-entity regime.

The largest groups of micro businesses in Wealden are construction (1,520), professional, scientific and technical services (1,330) and wholesale and retail (1,050). For construction companies in Buxted, Construction Industry Scheme deductions, retentions and stage payments can distort profit, so we reconcile your CIS statements before the accounts are prepared. That puts construction at 19% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Buxted (Wealden 008) has 645 VAT- or PAYE-registered businesses, and 595 of them (92%) are micro businesses.

Wealden ranks 388 of the 1105 areas we serve by number of micro businesses, and its micro share of 91% is above the 89% average across them. In professional, scientific and technical services (1,330 micro businesses in Wealden), fee income, work in progress at the year end and how directors are paid are the key decisions, so we plan these with you before the accounts are finalised. In wholesale and retail (1,050 micro businesses in Wealden), 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.