business checklist

As we wave goodbye to 2022 and welcome all the possibilities of a new year, we wanted to provide a brief but informative blog about what the new 2023 era means for small business owners. 

Here’s a succinct list of the four legal obligations and deadlines that you don’t want to miss in the new year.

  • Financial Year End

Sole traders and partnerships will need to prepare for the UK’s financial year end which is on the 6 April, 2023.

If you are the entrepreneur of a limited company, your first financial year-end runs from the date the company was incorporated and ends one day before that date the following year.

File your financial year end with 121 Company Formation

  • Self-Assessment Tax Return

For UK residents, the deadline for completing your self-assessment tax return is 31 January 2023.

121 Company Formation can complete and submit your self-assessment on your behalf. Alternatively, you can file online or find out more at the Gov.UK website.

  • VAT

Is your company registered for VAT? You’ll be required to submit a VAT return every quarter. And don’t forget, a VAT return must be filed even if you have no VAT payments due or VAT to reclaim.

File your VAT return with 121 Company Formation

  • Confirmation Statement

Confirmation statements aren’t necessarily due at the end of the calendar year but rather  coincides with your company’s anniversary date (i.e. the date your company was incorporated). However, it is certainly worth having on your radar as we enter the new year.

File your confirmation statement with 121 Company Formation


So, there you have it! A comprehensive list of your legal obligations for the new year, as well as all the services and resources we offer to help ensure you remain compliant, seamlessly and more easily than ever before! 


About 121 Company Formation

121 Company Formation is one of the UK’s leading online company formation agents. We have helped over 50,000 entrepreneurs register a company in the UK. We offer the most comprehensive range of services including company formation packages that start at just £15.95, administrative, accounting, and bookkeeping services to support you and your business before, during, and after the incorporation process.

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