Keep the company compliant, understand the numbers, and make better decisions.
SV&Co supports owner-managed limited companies and growing SMEs across Southall and West London with annual accounts, Corporation Tax, bookkeeping, VAT, payroll, director tax and ongoing business advice.
Before you take money from the company
Four numbers every limited company director should know.
These are the normal deadlines for an established private limited company. First accounts and unusual accounting periods can work differently.
Requirement
Normal deadline
What it means
Annual accounts to Companies House
9 months after financial year end
Statutory company accounts filed on the public register.
Pay Corporation Tax
9 months and 1 day after Corporation Tax accounting period ends
Payment is normally due before the Company Tax Return filing deadline.
Company Tax Return
12 months after Corporation Tax accounting period ends
CT600, accounts and tax computations submitted to HMRC using suitable software.
First company accounts can have different dates.
A newly incorporated private company normally has 21 months from incorporation to file its first Companies House accounts, although the first Corporation Tax periods and returns may not line up exactly with that Companies House period.
Understand your company profit
What does “profit” actually mean?
Many directors look at the bank balance and think that is the profit. It is not. Profit is worked out from the company’s income and costs, then tax rules can adjust that figure before Corporation Tax is calculated.
Sales and other business income
Money the company earns from its trade or other taxable sources.
Less business costs
Wages, rent, software, professional fees and other business expenses.
Accounting profit
The profit shown by the accounts before Corporation Tax.
Taxable profit
The figure used for Corporation Tax after tax adjustments and reliefs.
A simple example
Sales
£120,000
Business costs
£70,000
Simple taxable profit, assuming no tax adjustments
£50,000
Corporation Tax at 19%, assuming the small profits rate applies
£9,500
Profit left after Corporation Tax
£40,500
This example is deliberately simple. In real accounts, accounting profit and taxable profit can differ. Some accounting expenses are not deductible for Corporation Tax, while capital allowances and other tax reliefs can reduce taxable profit.
Important. Cash in the bank is not the same as profit.
A company can have cash but little or no distributable profit, or it can have retained profit but less cash because money has been used to buy assets, repay loans or fund the business.
Dividends explained simply
A dividend comes from company profits available to shareholders.
In simple terms, the company earns profit, Corporation Tax is allowed for, and the remaining distributable profit may be available for dividends. But the legal test is not just this year’s “net profit after tax”. The company must have enough profits available for distribution, taking account of retained profits and losses from current and previous years.
A dividend is a payment to a shareholder. It is not a salary and it is not a business expense for Corporation Tax.
Think of it this way.
Company profit belongs to the company first. A shareholder can receive some of that value as a dividend only when the company has sufficient distributable profits and the dividend is properly declared.
Company profit belongs to the company first. A shareholder can receive some of that value as a dividend only when the company has sufficient distributable profits and the dividend is properly declared.
Do not declare a dividend simply because there is money in the bank.
Before a dividend is paid, the company should check its available profits and records. GOV.UK also requires the dividend decision to be recorded and a dividend voucher to be prepared.
Current tax rates and simple calculators
See how Corporation Tax and dividend tax can affect the numbers.
These tools use the 2026 to 2027 rates currently published by HMRC and GOV.UK. They are designed to explain the rules, not replace a full tax calculation.
Source: GOV.UK and HMRC
Tax year 2026 to 2027
Rates checked: 16 August 2026
Corporation Tax guide
For a normal 12-month period with no associated companies. The £50,000 and £250,000 limits can be reduced for short accounting periods and associated companies.
19%
£50,000 or less
Marginal relief
£50,000 to £250,000
25%
Above £250,000
Dividend tax guide
A simple estimate for an individual using the standard UK dividend rates. Your exact tax can differ because of your total income, Personal Allowance, Scottish non-dividend income, other allowances and reliefs.
How this will stay current on the live WordPress site.
The displayed rates will come from one central “SV&Co tax rates” data record. A scheduled automation will check the official GOV.UK rate pages regularly. Expected rate changes can update the central record for the correct effective date. If GOV.UK changes its page structure or publishes something unexpected, the system will hold the change for review rather than silently publishing a wrong tax rate.
The displayed rates will come from one central “SV&Co tax rates” data record. A scheduled automation will check the official GOV.UK rate pages regularly. Expected rate changes can update the central record for the correct effective date. If GOV.UK changes its page structure or publishes something unexpected, the system will hold the change for review rather than silently publishing a wrong tax rate.
What we do
Compliance is the starting point, not the whole service.
Accounts and tax returns matter, but a useful accountant should also help you keep the records organised, understand the figures and plan before decisions become irreversible.
Keep the records organised
Build reliable records throughout the year rather than trying to reconstruct everything at year end.
Bookkeeping and bank reconciliations.
Sales and purchase records.
Digital invoice and receipt capture.
VAT records and supporting evidence.
Payroll and PAYE records.
Director’s loan account records.
Cloud accounting systems.
Automation and AI-assisted workflows where appropriate.
What this gives you
Cleaner information, fewer year-end surprises and records that are easier to use.
Prepare and file correctly
Keep the company’s recurring obligations clear and make sure you know what is due and when.
Annual statutory accounts.
Corporation Tax calculation and CT600.
Companies House filing.
VAT returns where registered.
Payroll, PAYE and RTI.
Workplace pension support where applicable.
Director Self Assessment where required.
Relevant HMRC correspondence and agent support.
What this gives you
A clear compliance timetable and fewer last-minute filing or payment problems.
Explain the numbers
A director should understand what the accounts are saying, not simply sign them.
What the company’s profit means.
Why profit and cash are different.
Estimated Corporation Tax.
What the company owes you or you owe the company.
Whether profits may support a dividend.
How costs and margins are moving.
Whether cash flow is under pressure.
What needs attention before the next reporting period.
What this gives you
Numbers you can understand and use when making business and personal decisions.
Plan ahead
The best time to discuss tax and cash flow is usually before the year end, not after the accounts have been completed.
Forecast Corporation Tax before the payment date.
Review director salary and dividends.
Check the director’s loan account before it becomes a problem.
Plan dividends before declaring them.
Consider pension contributions where appropriate.
Forecast VAT, PAYE and other tax payments.
Review major purchases and finance decisions.
Plan cash flow, budgets and future growth.
What this gives you
More time to make choices while options are still available.
Questions directors ask before changing accountant.
When are limited company accounts normally due?
For an established private company, Companies House accounts are normally due nine months after the financial year end. First accounts can have a different deadline.
When is Corporation Tax normally payable?
For a normal accounting period, Corporation Tax is generally due nine months and one day after the end of the Corporation Tax accounting period.
When is the Company Tax Return due?
The Company Tax Return is normally due twelve months after the end of the Corporation Tax accounting period.
Can an accountant take over from my current accountant?
Yes. After you authorise the move, the incoming accountant can normally contact the previous accountant for professional clearance and records.
Can SV&Co handle bookkeeping as well as year-end accounts?
Yes. Bookkeeping, VAT, payroll, year-end accounts, Corporation Tax and management reporting can be combined so the annual accounts are built from cleaner records throughout the year.
Reviewed by
Sandip Vadher, PhD FCCA
Founder of SV&Co Accountancy. Fellow Chartered Certified Accountant with more than 20 years of finance and accountancy experience.
New company enquiry
Tell us what you want to improve.
Compliance, bookkeeping, tax planning, better reporting or simply a more responsive accountant. Start with the issue that matters to you.
Limited company accounting works best when annual accounts, Corporation Tax, payroll, VAT and director decisions use consistent records. SV&Co supports West London companies with connected compliance and practical advice.
