Started a CIC? Here are the key dates you need to know

Starting a CIC is exciting, but once you’ve registered with Companies House, there are a few important dates and filing deadlines to keep on top of. These are not optional, and if you don’t file on time there are some hefty fines!

Here’s a simple guide to help you understand what happens next.

YOUR ACCOUNTING REFERENCE DATE (YEAR END)

When you set up your CIC, you’ll receive an Incorporation Date. This is your official start date with Companies House.

At the same time, Companies House will automatically assign your Accounting Reference Date (ARD), which is your financial year-end date. This is usually set as the last day of the month your CIC was incorporated.

Example:

• CIC incorporated: 16 May 2025
• Year end: 31 May each year

YOUR FIRST ACCOUNTS DEADLINE

This is the bit many new CIC directors don’t realise. Your first accounts are due 21 months from the date you incorporate, NOT 9 months from the year end date.

Example

• Incorporated: 16 May 2025
• First year end: 31 May 2026
• Accounts due: 16 February 2027

After the first year, accounts are due 9 months after the year end – so year-end 31 May 2027 will be due for filing on 29 February 2028. You can file earlier though, and we encourage that.

CORPORATION TAX - USUALLY TWO RETURNS IN YEAR ONE

Because your first accounts usually cover a little over 12 months (in our example from 16 May 2025 to 31 May 2026), HMRC will need 2 Corporation Tax returns submitting:

• One corporation tax return for the first 12 months (16 May 2025 to 15 May 2026)

• A second short return up to the year end (15 May 2026 to 31 May 2026)

• This is completely normal for new CICs, and all Limited Companies

Your Corporation Tax payment is due 9 months and 1 day after the accounting period, so in year 1 this would be 16 February 2027 for the first year, and 1 March 2027 for the second short return. You can pay all of this at the same time, and it’s best to pay it before 16 February deadline.

The Corporation Tax returns themselves have a 12 month filing deadline, so the period to 15 May 2026 deadline is 15 May 2027. Again, we recommend that you get the Corporation Tax returns submitted at the same time as the accounts and the payment made so it’s all done together 😊.

DON’T FORGET THE CONFIRMATION STATEMENT (CS01)

Every CIC must also file a Confirmation Statement each year with Companies House

This confirms details like:

• Directors

• Persons of Significant Control (PSC’s)

• Registered office

• SIC codes

• The current filing fee is £50 if filed online

Remember before you file the confirmation statement, you will need the Companies House ID verification details for each of your Directors and PSC’s. They will have needed to verify their identity either when you appointed them as a director (if after 18 November 2025), or they may already have done this through other business interests.

For more information on this see our blog : Companies House Identity Verification: What Directors & PSCs Must Do Now

LATE FILING PENALTIES

Companies House automatically issues penalties for late accounts - even if your CIC hasn’t traded yet.

Current penalties are:

• Up to 1 month late - £150

• 1–3 months late - £375

• 3–6 months late - £750

• Over 6 months late - £1,500

And if you are late again the following year, the penalty automatically doubles.

HMRC late filing penalties are:

• Day 1 late - £200 penalty

• 3 months late - Additional £200 penalty (bringing the total to £400)

• 3 Consecutive late returns - If a return is filed late for three consecutive accounting periods, the flat penalties escalate to £1,000 at day one and £2,000 at 3 months late.

These penalties are levied even if no Corporation Tax is due.

If you owe Corporation Tax, on top of the penalties HMRC charge additional penalties depending on how late the return and payment is:

• 6 months late - A tax determination will be issued by HMRC along with a 10% penalty on the unpaid tax

• 12 months late - An additional 10% penalty is applied to any tax still outstanding.

• 18 months late -Up to 20% of the unpaid tax may be charged if the return remains outstanding.

The moral of the story is don’t be late, it’s very expensive!

EXAMPLE TIMELINE

FINAL TIP

It is a legal requirement to keep your bookkeeping up to date throughout the year, but it can also give the directors valuable information to help with decision making. It also helps you monitor your turnover to ensure you don’t breach VAT registration threshold. This all helps to make the year-end process smooth and straightforward, and complete the filings in plenty of time to avoid any nasty penalties!

If you’re unsure about your filing responsibilities or need support managing your CIC’s ongoing requirements, our team is here to help. Get in touch today to make sure your CIC stays on track and focus on making a difference to the the communities you are there to serve.