What is a limited company?

There are different types of limited companies such as limited by shares, limited by guarantee, private unlimited company and public limited company. Most of the people in the UK operate under limited company by shares. Before you start your business under a limited company it has to be registered with the company’s house.

After incorporation, Our first step is to understand your business in-depth so that we would be in a position to guide you according to your business requirements. Our job is to explain each and every aspect of the accounts in detail so you can understand all the figures and their impact on the business. We also make sure that the accounts are in compliance with all the Companies House and Inland Revenue regulations.

What to do when you have a limited company.

  • File Company’s Annual Return to Companies house every year.
  • File Abbreviated Set of accounts to the company’s house every year.
  • File full set of Accounts to HMRC every year.
  • File Company Corporation tax return to HMRC- CT600
  • Register your Business for VAT if turnover is above the VAT threshold.
  • File VAT returns usually quarterly –  only if you are VAT registered.
  • If you have employees, you should set up a PAYE system to collect income tax and National Insurance contributions.
  • File P35 (employer annual return) every year along with P14, P11 etc – only if you are registered for PAYE.
  • File Self-assessment tax return every year – Being a director of the company.
  • Other Requirements, depends on individual circumstances such as filing P11D etc

For further information and detailed guidance please Click here 

Record Keeping

  • Keep records of all Sale invoices
  • Keep records of all Purchase invoices Expenses – if you are our client, you can request us a list of possible allowable expenses. This will give you an idea of what you can and can’t claim for.
  • Keep records of business bank statements
  • Keep Record of VAT – if registered
  • Keep record of all the employees & casual labour
  • Keep records of business credit card statements if any.
  • Keep records of any other information which you believe is relevant

For further information and detailed guidance please Click here

What is included in our fee?

  • Unlimited face to face meetings
  • Incorporation of a limited company*
  • Help you to open a business bank accounts – where needed
  • Preparation & filing of abbreviated accounts to Companies house
  • Preparation and filing of full set of accounts to HM Revenue & Customs – IXBRL format.
  • Preparation & Filing of Company tax return(CT600) to HM Revenue & Customs
  • Guide you how tax system works in UK- Tax, N.I rates etc
  • Guide you how to keep good records
  • Guide you if your business needs to be registered for VAT, Explain you about available VAT schemes
  • Provide you list of possible allowable expense
  • Advise you about the tax liability & dates
  • Act as an agent on your behalf and deal with HM Revenue & Customs
  • Unlimited – Email and telephone support throughout the year
  • ACCOTAX – Bookkeeping software
  • Tax planning