How Does Court Restoration Work? Process, N208 & Time Limits
Court restoration is the process of returning a dissolved company to the Companies House register through a court order. It is generally used where administrative restoration is unavailable or where another eligible person, such as a creditor or claimant, needs the company restored. The court restoration route is mainly governed by sections 1029 to 1034
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What Accounting Records Must a UK Business Keep?
A UK business must keep records that explain its income, spending, assets, liabilities, and financial transactions. Limited companies have additional duties under company and tax law. This guide focuses mainly on UK limited companies. Sole traders and partnerships follow different tax record-keeping rules in some areas. Accounting records create a clear financial trail for the
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Cash Accounting vs Accrual Accounting: What Is the Difference?
Cash accounting records income and expenses when money changes hands. Accrual accounting records them when income is earned, or costs relate to the accounting period. This timing difference affects when a business records revenue, expenses, and taxable profit. In this guide, cash basis mainly refers to HMRC’s Income Tax cash basis for eligible sole traders
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What Is Administrative Restoration UK? Eligibility & RT01
Administrative Restoration UK works for eligible dissolved companies. It covers who can apply, which Registrar strike-off cases qualify, the six-year deadline, Form RT01, outstanding Companies House filings, Bona Vacantia requirements, and refusal options. It also explains the key statutory tests under the Companies Act 2006. The article helps former directors, members and advisers understand the
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Balance Sheet vs Profit and Loss Account: What Is the Difference?
A balance sheet shows a business’s financial position at one date. A profit and loss account shows performance over a period. The balance sheet records assets, liabilities, and equity. The profit and loss account records revenue, expenses, and the resulting profit or loss.Understanding balance sheet vs profit and loss helps business owners read financial reports
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When Can a Dissolved Company Be Restored? UK Guide
A dissolved company can be restored when it meets the legal conditions for administrative restoration or court restoration. The correct route depends on how the company was struck off, who applies, and when dissolution occurred. Most restoration applications must be made within 6 years from the date of dissolution. Administrative restoration has narrower eligibility rules.
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Financial Accounting vs Management Accounting: What Is the Difference?
Financial accounting reports financial performance, while management accounting supports internal planning and business decisions. Both systems use financial data, but they serve different purposes. Financial accounting mainly records and reports completed business activity. It helps explain revenue, expenses, assets, liabilities, and profit during a reporting period. Management accounting uses financial and operational data to support
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P800 Tax Calculation: Claim Your HMRC Tax Refund
A P800 tax calculation tells you whether you paid the correct amount of Income Tax through PAYE. HMRC may send one after reviewing your tax records. Many UK employees and pensioners pay Income Tax through Pay As You Earn, or PAYE. Employers and pension providers deduct tax before making payments. However, PAYE does not always
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What Is a Company Tax Return? How to Prepare and File One
A Company Tax Return reports a company’s taxable profits, Corporation Tax calculation, and tax liability to HMRC. Most active UK limited companies receive a notice from HMRC requiring a Company Tax Return for each relevant Corporation Tax accounting period. A complete return usually contains Form CT600, company accounts, tax computations and any required supplementary pages.
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CS01 Confirmation Statement: Filing, Fees & Deadline 2026
A CS01 is the confirmation statement UK companies use to confirm their Companies House information remains correct and up to date. Every company must normally file at least one confirmation statement every 12 months. This includes dormant and non-trading companies. The CS01 confirmation statement replaced the old annual return. It does not replace annual accounts
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