Micro-entity accounts in iXBRL
Most one-person and very small companies qualify as micro-entities and can prepare the simplest set of statutory accounts UK company law allows, under FRS 105. Both Companies House and HMRC want those accounts as Inline XBRL, a tagged HTML format that machines can read and people can still open in a browser.
Who qualifies
A company is a micro-entity if it meets at least two of three thresholds for the financial year. For financial years beginning on or after 6 April 2025 those are:
- Turnover not more than £1m
- Balance sheet total not more than £500k
- Not more than 10 employees on average
Some companies are excluded regardless of size, including charities and companies in a group that prepares group accounts.
What micro-entity accounts contain
- A balance sheet in one of the two prescribed formats, with the statutory footnotes.
- A profit and loss account in the prescribed format. This is delivered to HMRC; a micro-entity may choose not to file it at Companies House.
- The director’s statements that the accounts were prepared under the micro-entity provisions and, where applicable, that the company is entitled to audit exemption.
There are no notes beyond the prescribed footnotes, no directors’ report, and no requirement for accruals-based estimates the regime does not ask for. The accounts are presumed to give a true and fair view if they comply with the format.
Why iXBRL, and why it matters that both filings agree
Inline XBRL attaches a machine-readable tag from the FRC taxonomy to each figure in the accounts. HMRC requires accounts and computations in this format with every CT600, and from 1 April 2028 Companies House will accept accounts only through software, which produces the same format. Because the accounts you send to Companies House and the accounts attached to your tax return are read by machines, they are compared. Two filings prepared separately from two slightly different spreadsheets are a common way to draw a query.
FilingKit builds the micro-entity accounts and the Corporation Tax computation from one set of figures, so the balance sheet, the profit and loss account and the CT600 boxes cannot disagree with each other.
What FilingKit does not do
It does not do your bookkeeping. You need a trial balance, or at least the year’s totals, before you start. It does not handle companies above the micro-entity thresholds, groups, or charities, and it says so rather than producing something plausible. Full scope.
Price
£69 for the accounts and CT600 together, £29 for a dormant company. Pay when you file. The Corporation Tax computation is free.