Limited Companies

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UK Limited Companies

We have tried to design our packages to include every service you need to meet your obligations as a Limited Company in the UK.

Our fixed packages start from £30 per month and include your Annual Accounts, Annual Return and Corporation Tax Return PLUS a range of additional client benefits such as Free QuickBooks Online Software. OR you can build your own package, choosing just the services you feel that you need.

We also offer unlimited support and assistance where you need to make any changes to your company.

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All Fixed Fee Monthly Packages Include

Free QuickBooks Online

…QuickBooks Essentials for your business, included with all packages (saving you £180 per year)…

Cloud
Client Portal

…file sharing, report approvals, pay invoices, communicate with us and view deadlines/tasks…

Monthly Profit Reports

…delivered to your inbox and uploaded to your portal at the end of every month…

Personalised Calendar

…sync with or view your personalised sbusiness deadline calendar from your client portal…

Email
Reminders

…get email reminders with instructions before any task you need to complete…

Professional
Support

… reliable support from your own UK qualified accountants and bookkeepers …

Limited Company Responsiblities

If you are a new Limited Company or thinking of starting a Limited Company, here are a few points you need to know.

Company Formation

To exist as a Limited Company in the UK, you need to be incorporated with Companies House. Each Company must have at least 1 director and 1 shareholder and a registered office in the UK.

Maintain Financial Records

This one is often overlooked until it is too late. But every Limited Company (the Directors to be specific) have the responsibility to maintain accurate records and systems of information.

Accurate Company Information

Companies House maintains the register of all companies and their details. It is your responsibility to ensure that any administrative changes to your company or it’s activities are reported to Companies House.

Submit an Annual Return

An Annual Return is an administrative return which is a snapshot of the set up of your company at that time. So it covers things like Shareholder changes, Director Changes, Share Values, Registered Address Changes etc. This return can be submitted online or on paper to Companies House, usually around the anniversary of your Company’s Incorporation.

Annual Accounts

Every Company must submit Annual Accounts to Companies House, this includes Dormant Companies. This submission is due 9 months after your company financial year end and it includes a Balance Sheet, Income Statement and Notes to the Income Statement. It encapsulates your company’s financial performance and is also the basis of the calculations for your Corporation Tax Return.

Corporation Tax Return

All Companies need to compute the corporation tax payable to HMRC. Broadly, this is calculated on the profits that your company has earned in the financial year. The Corporation Tax Rate is 20% for profits under £300000 and 21% for profits over £300000. There are various reliefs available such as Marginal Relief and Capital Allowances. The Return is due within 12 months after the end of the related accounting period.

VAT

If your company’s taxable turnover is more than £82000 OR if you receive goods in the UK or EU valued at more than £82000, in any 12 month period – you must register for VAT. You may also choose to voluntarily register for VAT for a number of reasons.

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Payroll

If you plan to employ and pay any staff within your company, including a director, you need to register as an employer with HMRC. There are a number of other obligations which come along with being an employer such as accounting for income tax and national insurance, adhering to minimum wages and getting Employer Liability Insurance.

Learn more


Learn more about Limited Companies in our DotWIki Area. And if you can’t find your answers, simply submit your own questions.

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Ready to get started?

View our Fixed Fee Limited Company Packages, Year End Packages OR make a custom Accounting Package using our Package Builder.

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