The High Season of Submitting Your Annual Report is Here!
The first quarter of the year 2022 has passed which means the deadlines are approaching. So, now is the ultimate time to start the process of submitting your company’s annual report for 2021.
Just a reminder that annual reports are mandatory and required by the law in every country. If your company fails to submit the annual report, in some countries the registry gives you a warning with a new submitting deadline, but in many countries the penalties will follow even without a warning. So, be sure that your annual report is ready before the due date if you don’t want to face any additional charges.
To make business owners’ life easier and to avoid those unwelcomed penalties, we have put together a guide of annual report due dates and prices in different countries and would like to share it with you:
Annual report for Estonian company
All Estonian legal entities have the obligation to submit annual reports. The annual business report gives information about the company’s progress in the past financial year. This information is public and anyone can access it. Please note that dormant companies or companies which have not had any business activity are also obligated to submit annual reports in Estonia.
Deadline: within 6 months from the end of the company’s financial year. Usually, the financial year is the same as the calendar year in which case the deadline is June 30th.
Price: starting from 195 € for dormant companie
See also the Most Frequently Asked Questions about Estonian Annual Report or a Q&A webinar recording on Estonian Annual Report
Annual report for Swedish company
Submitting an annual report is mandatory for all the companies registered in Sweden, even if the company doesn’t have any activities during the financial year. Besides the Annual Report, each company also needs to submit the Annual Income Declaration.
In Sweden, the delay submitting the Annual Report or Annual Income declaration on time will result in penalties right away without any warnings.
Deadline: within 7 months from the end of the company’s financial year. Usually, the financial year is the same as the calendar year in which case the deadline is July 31st.
Deadline for the Annual Income Declaration is July 1st.
Price: Annual Report from 5900 SEK
Annual Income Declaration from 5300 SEK
Annual report for Finnish company
All Finnish companies are obligated to submit an annual report, even if the company has only 0,01 EUR activities during the financial year (e.g. bank account fees). Annual Report is public information that can be checked from Statistics Finland (Tilastokeskus) and it is available to anybody who purchases the report. It might also be asked by a bank.
Annual Tax Report is not a part of Annual Report, but it is also mandatory to submit and the due date is the same.
Deadline: within 4 months from the end of the company’s financial year. Usually, the financial year is the same as the calendar year in which case the deadline is April 30th.
Each company also needs to submit the Annual Income Declaration and Annual General Meeting Minutes.
Price: Annual Report from 450 €
Together with Annual Income Decl. and Meeting Minutes from 750 €
Annual report for United Kingdom company
Limited companies registered in the UK have to submit an annual report to the Companies House usually within nine months of the end of the financial year. Submitting annual accounts is mandatory even if the company has no economic activity during the accounting period. For that, there is a separate option for Dormant Company Accounts.
The United Kingdom is unique in a way that the financial year will not automatically be the calendar year. Instead, it starts from the opening of the company so the deadline for the annual report is individual for each company.
Deadline: within 9 months from the end of the company’s financial year. The financial year usually starts from the date the company was created, so deadlines are individual.
Price: starting from 675 £, for dormant companies 90 £
Annual report for Latvian company
Every company registered in Latvia has to submit annual report to the State Revenue Service (SRS), even if the company doesn’t have any activities during the financial year.
Deadline: within 4 months from the end of the company’s financial year. Usually, the financial year is the same as the calendar year in which case the deadline is April 30th.
Price: starting from 150 €
Annual report for Lithuanian company
Submitting an annual report is mandatory for all the companies registered in Lithuania, even if the company doesn’t have any activities during the financial year. It must be confirmed at the yearly General Meeting of Shareholders within 4 months from the company’s financial year. The annual report has to be submitted to the Centre of Register within 30 days from the general meeting,
Deadline: within 4 months from the end of the company’s financial year. Usually, the financial year is the same as the calendar year in which case the deadline is April 30th.
Price: starting from 200 €
Some additional information that you should know before your annual report due date:
- A company’s financial year is 12 months long. A financial year generally coincides with the calendar year (1.01 -31.12), but a company’s articles of association may specify a different financial year. In the United Kingdom the financial year starts from the opening of the company so the deadline for the annual report is individual for each company.
- The exact content and the form of the annual report depends on the size and business of the company.
- Delay in submitting the annual report on time may result in penalties and deleting the company from the local business register.
- Please be noted that all the accounting has to be completed before starting to prepare the annual report. If you need help with your accounting feel free to contact us and ask for an offer.
