While setting up my UK company, I began to think about the long-term expenses. One question kept coming to mind: what would the annual filing costs be? I needed to understand these ongoing fees to budget properly for my business operations.
Answer by: abdullah-al-naim
3 weeks ago
The annual filing costs for a UK company can vary depending on the services you use and the size of your business. Here are the key components to consider:
1. Annual Confirmation Statement
Every company must file an annual confirmation statement with Companies House. The cost differs depending on whether you file online or via post.
2. Annual Accounts
Preparing and submitting annual financial statements is a mandatory requirement. Costs can depend on whether you do it yourself or hire a professional accountant. Larger or more complex businesses may incur higher costs.
3. Corporation Tax Filing
Although there’s no filing fee for Corporation Tax, you may need to hire professionals to calculate and submit your tax returns accurately, especially if your company’s financials are complex.
4. Additional Services
If you opt for services like a registered office address, virtual office handling, or payroll management, these add to your annual filing costs. The expenses can vary based on the provider and the scope of services.
5. VAT and Payroll Compliance (If Applicable)
For VAT-registered companies or those with employees, there are additional costs for filing VAT returns and managing payroll. Many companies choose professional services for these tasks.
To learn more about UK company formation as a non-resident, visit this link:
https://businessglobalizer.com/blog/uk-company-formation-for-non-residents-a-3-step-guide/
To form your UK company as a non-resident, visit this link:
https://businessglobalizer.com/services/uk-company-formation/
