First-year accounts for limited company in Maybole

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

Maybole is in the South Ayrshire council area, in Scotland. ONS figures for 2026 count 3,500 VAT- or PAYE-registered businesses in South Ayrshire, and 3,045 of them (87%) employ fewer than ten people. Many are small enough to use the micro-entity regime.

The largest groups of micro businesses in South Ayrshire are wholesale and retail (450), construction (430) and professional, scientific and technical services (410). For wholesale and retail companies in Maybole, 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. That puts wholesale and retail at 15% of the local micro-business base.

South Ayrshire ranks 1020 of the 1105 areas we serve by number of micro businesses, and its micro share of 87% is below the 89% average across them. In construction (430 micro businesses in South Ayrshire), Construction Industry Scheme deductions, retentions and stage payments can distort profit, so we reconcile your CIS statements before the accounts are prepared. In professional, scientific and technical services (410 micro businesses in South Ayrshire), 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.

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.