UK Financial Requirements
Understanding your financial obligations is essential for running a compliant business in the UK. These guides provide comprehensive information about record keeping, filing deadlines, and tax requirements.
Limited Companies
Complete guide to financial requirements for UK limited companies, including Companies House filings, Corporation Tax obligations, and statutory accounts.
Sole Traders
Everything you need to know about Self Assessment, record keeping requirements, Income Tax, and National Insurance for sole traders.
Key Differences
Limited companies and sole traders have different legal structures and financial obligations. This quick comparison highlights the main differences to help you understand which requirements apply to your business.
| Requirement | Limited Company | Sole Trader |
|---|---|---|
| Registration | Companies House | HMRC Self Assessment |
| Tax return | Corporation Tax (CT600) | Self Assessment (SA100) |
| Annual accounts | Required (filed with Companies House) | Not required (unless turnover over £150k) |
| Record keeping | Minimum 6 years | Minimum 5 years after filing deadline |
| Tax rates | Corporation Tax (19-25%) | Income Tax (20-45%) + NI (Class 2 & 4) |
| Personal liability | Limited | Unlimited |
Important Disclaimer
These guides are provided for informational purposes only and should not be considered professional tax or legal advice. UK tax laws and regulations change regularly, and your specific circumstances may require different treatment.
Always consult with a qualified accountant or tax advisor for advice tailored to your business. HMRC provides official guidance at gov.uk.
Last updated: September 2026