LIMITED COMPANIES

Limited companies

Limited companies are a common way of setting up a business, with the major advantage being that your company is a legal entity, and you're not personally liable for its debts. Plus, they offer you flexible ways to distribute your business profits to maximise tax efficiencies. However, they also come with certain statutory obligations.

We can advise your existing limited company, guide on how to alter your business set-up to become a limited company, or how to start a limited company from scratch. Alongside this, we can support you to fulfil all your regulatory obligations, and make sure your company is structured in the most tax-efficient way.

Company Formation

Lots of places offer to set you up a company off-the-shelf, but what they won’t do is talk you through your options, and which type of setup is right for you.

We can advise you on your choices, and then manage the company formation on your behalf. All you need to do is decide the name of the company, and who will be your officials and shareholders. We'll handle the rest.

Annual Accounts

Limited companies must prepare annual accounts and submit them to Companies House in a statutory format and we can help you do this.

Whether your files are neatly arranged, or a bunch of receipts in a cardboard box, we'll summarise your annual accounts and deliver you back a tidy set of numbers ready for submission.

But we don't just help you to comply with your statutory obligations, we also enable you to understand the position of your business today and support you to form plans for the future.

VAT

We help companies register for VAT, complete the necessary returns and ensure that VAT reliefs and opportunities are maximised where possible. Plus, we can also advise on which VAT scheme would work best for your business.

If your business is registered for VAT and your taxable turnover is above the VAT registration threshold of £85,000, you must keep digital business records and send your VAT returns to HMRC using Making Tax Digital-compatible software. We can recommend the right software solution and train you on how to use it, to ensure the transition is as smooth as possible.

Payroll

As an employer it is important to make sure your employees are paid accurately and on time. But this can be time-consuming, expensive and confusing to manage in house.

We can run the weekly, monthly, quarterly and annual payroll returns and take care of pensions, P60s, and other taxable benefits. This will leave you free to get on with running your business, sure in the knowledge that the payroll will be completed correctly and promptly.

Online accounting

Making Tax Digital is HMRC’s approach to digitalising tax administration. If you are not already required to have MTD compliant records and to submit your returns electronically, you will be in the future.

We can support you with accounts preparation through cloud-based software, such as QuickBooks Online, helping you to move to this new way of working. Going digital will save you time, enable you to work from anywhere and give you real-time data at your fingertips.