New Limited Company?
Limited companies are businesses that have been incorporated with Companies House and registered with HMRC. They are a separate legal entity to the shareholders and directors. Limited companies are owned by the shareholders and run by the directors. In smaller companies these are often the same people.
We can advise on whether you would benefit from incorporating your business and becoming a limited company or whether it is better to be a sole trader or partnership.
We can also set up your company ( incorporation) and register it for all the right taxes and give you advice on how to run it.
Advantages of being a Limited Company
- Limited Liability Being incorporated limits the amount of liability undertaken by the company’s shareholders to their stake in the company by way of investments or commitments
- Tax Efficient Limited companies pay corporation tax on their profits so they can be more tax efficient for a business with over £30,000 profit per year.
- Credibility Being limited gives you more credibility with customers and suppliers
Disadvantages of being a Limited Company
- Complexity Limited companies can be complex to run with more paperwork and deadlines.
- Less Privacy Accounts and documents have to be filed on public record at Companies House
What All Tax Accountants can do for your limited company:
- Set up your limited company
- Prepare and file the company’s year-end accounts with Companies House
- Prepare and file the company’s Corporation tax calculation
- Prepare and file the company’s year-end accounts and corporation tax return with HMRC
- File the Confirmation statement (annual return) with Companies House
- Give you telephone, email and in-person support for business advice
- Remind you of all the deadlines
- Prepare and file the Director’s tax return
- Set up and get you started with online bookkeeping software (Xero or QuickBooks)
- Provide HMRC investigation fee protection to cover you against unexpected defence costs of an HMRC investigation.
Some of the additional services we offer:
- Management reports
- Registered Office address
Keeping on top of your bookkeeping and accounts is essential for business success. You need to know your sales figures and what you are spending on expenses to keep trading, improve your business and pay the correct amount of tax.
Let All Tax Accountants take care of the financials so you can concentrate on running the business.