<p><a href="https://www.goforma.com/small-business-accounting/31-accounting-terms-concepts-you-need-to-know" target="_blank">Current liabilities</a>, otherwise known as short-term liabilities are due within a year.</p>
What are Current Liabilities?
Current liabilities are debts and financial obligations that a UK business must pay within one year, including trade creditors, HMRC tax liabilities, VAT owed, short-term loans, and accrued expenses - understanding what are current liabilities is essential for managing cash flow and meeting your statutory obligations to Companies House and HMRC.
Written by Jordan MaceyAAT
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Our small business accounting guide walks through absolutely everything you need to know if you're considering starting a limited company. From different taxes, limited company advantages/ disadvantages, how to pay yourself, and what your key filing requirements are.
- When to register a Ltd company
- When to register for VAT
- How to take money out of your company
- Dividend tax rates
- Limited company expenses & corporation tax
- Annual accounts and deadlines
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