─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Taunton: Clear Financial Reporting for Qualifying Companies

FRS 105 Micro Entity Accounts in Taunton are prepared under the financial reporting framework designed for qualifying micro-entities that choose to apply the UK micro-entities regime. FRS 105 is not a filing shortcut and it is not automatic: a company must first qualify for the regime and then decide to use it. Professional preparation can help you work from your financial records, consider the applicable reporting requirements, and produce FRS 105 financial statements that are appropriate for your company’s circumstances. For Taunton-based directors and business owners, this can mean clearer micro-entity accounts, a more straightforward presentation, and support in understanding what needs to be filed with Companies House separately from any Corporation Tax obligations. We focus on FRS 105 Micro Entity Accounts for companies that meet the relevant eligibility rules, so you can approach your annual accounts with confidence and a clear picture of the framework being applied.

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FRS 105 Micro-Entity Accounts

(Turnover up to £100K)

£499.00

£399.00

+vat

FRS 105 accounts preparation
Accounting records review
Micro-entity eligibility review
Companies House filing where applicable
Corporation Tax support where included
Director review
FRS 105 accounting support

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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 300 reviews 
    
 
 
 
   
 
 
       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 .
  
 
      Posted on Google  
   
   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
      Posted on Google  
   
   3rd Hub 
 
 
 
 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
      Posted on Google  
   
   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
      Posted on Google  
   
   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

─── FRS 105 EXPLAINED

FRS 105 Explained: What the Micro-Entities Regime Means for Taunton Companies

FRS 105 is the UK accounting standard used for micro-entity financial statements when a qualifying company chooses to apply the micro-entities regime. In plain terms, it is a simplified reporting framework that allows eligible micro-entities to prepare accounts with reduced disclosure compared with larger reporting standards, while still reflecting the company’s financial position and performance. The regime is available to companies that meet the relevant size and eligibility conditions, and FRS 105 applies only when that regime is chosen. It is separate from a Corporation Tax Return (CT600) and from other Companies House filings such as a Confirmation Statement. For directors in Taunton considering FRS 105 Micro Entity Accounts, the key point is that eligibility and choice both matter: meeting the size conditions does not by itself force or guarantee the use of FRS 105, and other rules or exclusions can affect whether the regime is available.

Who Can Use FRS 105 in the UK? Guidance for Taunton Micro-Entities

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable size conditions: turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. Those conditions are an important starting point, but they are not the whole test. Other eligibility rules and exclusions can apply, so a company that meets the size thresholds does not automatically qualify for FRS 105 or have to use it. In Taunton and across the UK, directors should consider both eligibility and choice: the micro-entities regime is an available accounting regime for qualifying companies, and FRS 105 applies when that regime is selected. Professional advice can help clarify whether FRS 105 Micro Entity Accounts are suitable for your company’s circumstances.

A company generally needs to meet at least 2 of these 3 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)

─── What We Review

Everything Your Micro-Entity Company Is Required to Get Right

Most compliance problems are not deliberate. They come from a missed deadline, an accounts template that no longer matches FRS 105, or dividends taken without the paperwork to support them. Our review covers each area in turn and reports back in plain English.

FRS 105 Balance Sheet

A statutory balance sheet prepared to the FRS 105 format, using the reduced disclosure the micro-entities regime allows.

Profit & Loss Account

A profit and loss account prepared for your own records and for your Corporation Tax computation, without public filing.

Required Notes & Disclosures

Preparation of the notes and disclosures required for the company's accounts under the applicable reporting requirements.

Corporation Tax Support

Separate Corporation Tax support can be provided where included in the agreed service. The Corporation Tax calculation is governed by tax rules rather than FRS 105.

Companies House Filing

Your FRS 105 accounts filed with Companies House in the correct format, before your accounts filing deadline.

Director Copy Pack

A full signed copy of your accounts and tax return, ready for your bank, mortgage lender or accountant records.

─── How It Works

How Our FRS 105 Preparation Process Works

Share Your Records

Send your bank statements, sales and purchase records, expenses and payroll details through our secure digital platform.

We Prepare Your FRS 105 Accounts

Our accountants confirm you qualify for the micro-entities regime, then prepare your accounts and CT600 from your records.

Review & Approve

We send draft accounts with clear explanations of the figures, and adjust anything before anything is submitted.

We File Where Required

Once approved, we can assist with the relevant Companies House filing and any separately agreed tax submission.

─── WHY CHOOSE US

Why Choose Our FRS 105 Accountants?

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

FRS 105 Accounts Support

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.

Clear, Transparent Pricing

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

─── WHO WE HELP

FRS 105 Support for Micro-Entities Across the UK

From one-director businesses and freelancers to startups, consultants and online businesses that qualify for the micro-entities regime.

One-Director Companies

Straightforward FRS 105 accounts and Corporation Tax filing for owner-managed limited companies.

Freelancers & Contractors

Accounts and compliance support for contractors trading through a qualifying limited company.

Startups & Small Companies

Practical support for newly incorporated companies filing their first set of micro-entity accounts.

Dormant & Low-Activity Companies

Dormant company accounts and FRS 105 accounts for LLPs that meet the micro-entity thresholds.

Professional Preparation for FRS 105 Micro Entity Accounts in Taunton

Professionally prepared FRS 105 Micro Entity Accounts in Taunton are built from your company’s financial records and the reporting requirements that apply to its circumstances. The work involves preparing FRS 105 financial statements, which may include the balance sheet, notes and other information required under the micro-entities regime, and then considering the separate filing steps that apply. Where a company is required to file accounts with Companies House, that annual accounts filing is dealt with separately from Corporation Tax. A CT600 Corporation Tax Return is submitted to HMRC and is not the same thing as FRS 105 accounts, even though both may draw on similar accounting information. Good preparation does not mean guaranteed acceptance or approval by any authority; it means taking care to apply the framework correctly and to keep your micro-entity accounts consistent with the records you provide.

ICAEW

ACCA

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Need Help With FRS 105 Micro Entity Accounts in Taunton?

To discuss your FRS 105 Micro Entity Accounts in Taunton, get in touch and tell us about your company, your accounting period, your current financial records and any filing requirements you are aware of. We can review the information you provide to assess your circumstances and explain how the micro-entities regime and FRS 105 may apply. If you are unsure whether your company qualifies, or whether applying FRS 105 is the right choice, we can talk through the eligibility conditions, the available reporting framework and the separate nature of Companies House accounts filing and Corporation Tax. The more complete your records, the more useful the conversation can be, but there is no promise of a particular outcome, filing result or tax position.

─── FAQs

FRS 105 Accounts Preparation 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 is FRS 105?

FRS 105 is the UK financial reporting standard for micro-entity financial statements. It sits within the UK micro-entities regime and is used when a qualifying company chooses to apply that regime. It is a simplified accounting framework intended to reduce disclosure and make annual accounts more straightforward for eligible micro-entities, while still requiring the accounts to be prepared on a proper basis and to reflect the company's financial records. FRS 105 accounts are separate from a Corporation Tax Return (CT600).

Who can use FRS 105?

FRS 105 can be used by companies that qualify for the UK micro-entities regime and then choose to apply it. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 size conditions: turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. Other eligibility rules and exclusions can apply, so meeting those size conditions alone does not automatically guarantee that the regime is available. The company must also decide to use it.

Is FRS 105 compulsory for every micro-entity?

No. FRS 105 is an available accounting regime for qualifying companies, not a compulsory one for every micro-entity. A company that qualifies can choose to apply the micro-entities regime, and FRS 105 applies when that choice is made. Some qualifying companies may use another suitable financial reporting framework instead, depending on their circumstances and reporting needs. If you are unsure which framework applies to your Taunton company, it is worth taking advice before preparing the accounts.

What are the current micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, the micro-entity size conditions are generally: turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. A company generally needs to meet at least 2 of these 3 applicable conditions. That is only part of the picture, because other rules and exclusions can affect eligibility. Meeting the size tests does not automatically mean a company can or must use FRS 105; the company must also qualify for the micro-entities regime and choose to apply it.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the micro-entity reporting standard, while FRS 102 is a broader UK financial reporting standard used by many other companies. FRS 105 generally allows simpler financial statements with fewer disclosures, because it is designed for qualifying micro-entities that choose the micro-entities regime. FRS 102 tends to involve more detailed accounting and disclosure requirements. The right choice depends on eligibility, the company's circumstances and the reporting framework it decides to apply. FRS 105 is not simply a smaller version of FRS 102 for all purposes; it is its own regime with its own rules.

Do FRS 105 accounts need to be filed with Companies House?

Where a company is required to file annual accounts, its FRS 105 accounts are filed with Companies House as part of that accounts submission. FRS 105 is the reporting framework used to prepare the financial statements, while Companies House filing is the separate step of delivering the accounts. This process is distinct from Corporation Tax, which is dealt with through HMRC and typically involves a CT600. A Confirmation Statement is another separate filing and is not the same as annual accounts. Filing obligations can depend on the company's circumstances, so it is important to check what applies to your company.

Is a Corporation Tax Return (CT600) separate from FRS 105 accounts?

Yes. FRS 105 accounts are the company's financial statements prepared under the micro-entities regime, while a CT600 is the Corporation Tax Return submitted to HMRC. The two are related because the tax return usually starts from the company's accounts and accounting information, but they are separate documents with separate purposes and separate submission routes. Preparing FRS 105 Micro Entity Accounts does not replace the need to deal with Corporation Tax obligations, and filing accounts with Companies House is not the same as filing a CT600 with HMRC.

Can a new limited company use FRS 105?

A new limited company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. New companies are not automatically eligible, because the size conditions and other rules still need to be considered, and a first accounting period can raise particular questions. If the company meets the relevant criteria and decides to use the micro-entities regime, FRS 105 can be the framework for its financial statements. It is worth reviewing the position early so that the records are kept in a way that supports the accounts.