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If you run a limited company as a creative professional in North London, filing accounts with Companies House is one of those unavoidable responsibilities that comes with the territory. Whether you’re a photographer, designer, filmmaker or musician operating as a limited company, understanding the process can save you from costly penalties and keep your business compliant.
Why filing accounts with Companies House matters
Every UK limited company must file annual accounts with Companies House, regardless of whether you’ve made a profit, broken even, or remained dormant throughout the year. This requirement exists to maintain transparency and ensure public information about registered companies stays current. Your accounts become part of the public record, accessible to anyone who wants to look up your company.
For creative businesses, these accounts tell part of your professional story. Potential clients, collaborators, or investors might review your filed accounts before deciding to work with you, making timely and accurate filing important for your reputation as well as legal compliance.
Understanding your deadlines for filing accounts with Companies House
Timing is everything when it comes to Companies House filings. Private limited companies have nine months from their accounting reference date (your year-end) to submit accounts. However, first-time filers get a bit more breathing room — you have 21 months from your company’s incorporation date to file your first set of accounts, after which you’ll receive late penalties.
Your accounting reference date is typically the anniversary of the last day of the month in which your company was incorporated. You can check your exact deadline by searching for your company on the Companies House website where it’s displayed clearly on the overview screen.
It’s worth noting that Companies House and HMRC have different deadlines. While you have nine months to file with Companies House, you have 12 months to submit your Company Tax Return to HMRC. These are separate requirements, though you can file both simultaneously using certain software if you qualify.
What happens if you miss the deadline
Missing the dealine for filing accounts with Companies House triggers automatic penalties. For private limited companies, the penalty structure works like this:
- £150 if your accounts are up to one month late
- £375 if they’re up to three months late
- £750 if they’re up to six months late
- £1,500 if they’re more than six months late
These penalties double automatically if you file late accounts two years in a row. Beyond the financial cost, late filing damages your company’s public record because anyone searching Companies House will see that your accounts were filed late. In severe cases, persistent non-compliance can lead to director disqualification or the company being struck off the register.
What accounts you need to file
The type of accounts you need to prepare depends on your company’s size. Most creative businesses qualify as either micro-entities or small companies, which benefit from simplified reporting requirements.
Micro-entity accounts require only a balance sheet and don’t need a profit and loss statement for Companies House. Small companies can file abridged accounts without needing a directors’ report. Both categories typically qualify for audit exemption, saving time and accountancy costs.
Even if your company is dormant — meaning it’s had no significant accounting transactions during the year — you still must file accounts. Dormant companies can file simplified dormant accounts, but the filing requirement remains absolute.
New identity verification requirements from November 2025
From 18 November 2025, all company directors and persons with significant control (PSCs) must verify their identity with Companies House. This major change, introduced under the Economic Crime and Corporate Transparency Act 2023, aims to improve transparency and make it harder for criminals to use fake or stolen identities when setting up or running companies.
For creative business owners, this means you’ll need to complete a one-time identity verification process. New directors appointed after 18 November 2025 must verify their identity before they can be formally appointed. Existing directors have a 12-month transition period and must provide their verification code when filing their next confirmation statement.
The verification process is straightforward and free through GOV.UK One Login, typically taking just a few minutes using a passport or driving licence. Once verified, you’ll receive a unique personal code that links to all your Companies House roles. Over 1.5 million people had already completed verification voluntarily before the mandatory date, and the process has an 85% user satisfaction score.
An important change from April 2026
From 1 April 2026, the current free online filing service provided by Companies House will close. After this date, all companies must use commercial software when filing accounts with Companies House. If you currently file directly through Companies House’s website, you’ll need to transition to third-party software before this deadline. Example software that will enable this include Xero, Quickbooks, Sage50 and FreeAgent. If you are unsure about the best accounting software for filing your accounts with Companies House, give us a call on 020 8446 8100 or complete our contact form to chat about your options.
Frequently asked questions
Can I file Ltd company accounts myself?
Yes, you can legally prepare and file your own limited company accounts without hiring an accountant. There’s no legal requirement to use a professional. However, filing accounts with Companies House involves detailed knowledge of current accounting standards and tax legislation. For creative professionals juggling client work and business administration, the time required to prepare accurate accounts often exceeds the cost of hiring an accountant. Additionally, mistakes can result in penalties or missed tax-saving opportunities. Most creative business owners find that working with an accountant who understands their industry provides better value through tax planning advice and ensures compliance.
What happens if I don’t file accounts with Companies House?
Failing to file accounts with Companies House is a criminal offence under Section 451 of the Companies Act 2006. Beyond automatic financial penalties that escalate the longer accounts remain outstanding, directors can face personal prosecution and disqualification. Your company’s public record will show the non-compliance, potentially damaging relationships with clients and suppliers. In extreme cases, the Registrar can take steps to strike your company off the register. The consequences affect you personally as a director, not just your company, making timely filing essential.
Do I need to file accounts if my company made a loss?
Yes, absolutely. The requirement for filing accounts with Companies House applies regardless of your company’s financial performance. Whether you’ve made a profit, broken even, or made a loss, you must still submit your annual accounts within the nine-month deadline. Your financial position doesn’t exempt you from this legal obligation. Loss-making years are common in creative businesses, particularly when investing in equipment or building a client base, but the filing requirement never changes.
Getting expert help with filing accounts with Companies House
For creative businesses in North London, working with accountants who understand your industry makes the process of filing accounts with Companies House straightforward. Green & Peter specialises in supporting photographers, designers, filmmakers, musicians and other creative professionals with their accounting requirements. We can help with everything from self-assessment tax returns to deciding between limited company and sole trader status, ensuring you maximise allowable business expenses and take advantage of creative industry tax reliefs. Call us on 020 8446 8100 or complete our contact form to discuss how we can support your creative business.
Author bio
Robert Green is a chartered accountant and co-founder of Green & Peter, a North London accounting firm specialising in creative industries. With over 30 years of experience supporting creative professionals, Robert helps creative business owners stay relaxed about their business finances and compliance.
