Limited company accounting made simple
Operating a limited company comes with several financial and legal obligations. From submitting accounts to Companies House to ensuring tax-efficient practices, there are many moving parts that you need to manage.
A limited company accountant not only helps you stay compliant but also offers strategic advice for sustainable growth. With our service, you can run your business with the peace of mind that every financial detail is in expert hands.
How is accounting for limited companies different?
Running a limited company involves managing financial and legal responsibilities that differ significantly from other business structures like sole traders or partnerships.
A limited company has its own tax obligations which require a dedicated set of accounting practices. Here are some of the key differences:
Separate legal entity
Unlike sole traders or partnerships, a limited company is a separate legal entity from its owners. This means that the company has its own set of legal obligations, including its own tax returns and liabilities, which must be managed carefully.
Limited companies are subject to corporation tax on their profits, separate from the personal taxes of their owners or directors. The nuances of corporation tax rates and allowable expenses can be intricate, requiring specialist knowledge.
Limited companies are required to submit annual financial statements to Companies House, and these statements are publicly accessible. These statements must be prepared according to specific accounting standards and often involve complex financial reporting requirements.
VAT returns and other taxes
VAT can apply to other forms of businesses, and limited companies don’t automatically have to be VAT-registered. But the complexities of VAT are often amplified for limited companies, which might also have to deal with other taxes such as employer’s National Insurance Contributions.
The company director(s) bear the legal responsibility for ensuring that the company meets its financial obligations. This includes accurate record-keeping, timely tax payments and ensuring that the company is solvent. Failing to meet these responsibilities can result in legal consequences for directors.
In short, accounting for a limited company is more complex than for a sole trader or general partnership. Working with a limited company accountant isn’t just a nice-to-have – it’s essential for the efficient operation of your business.
From guiding you through corporation tax to helping you navigate the maze of financial reporting, our tailored services aim to streamline these processes for you.
What does a limited company accountant do?
A limited company accountant is a specialist who understands the unique needs and challenges of running a limited company.
The accountant offers a broad range of services aimed at ensuring that your company fulfils all its financial obligations while maximising its economic potential.
Companies House filings
We handle your annual accounts and all necessary documentation for Companies House, letting you focus on your business.
Corporation tax and VAT returns
From calculating to filing, we ensure that your corporation tax and VAT returns are accurate and submitted on time.
We offer sophisticated online accounting software, designed to help you easily manage your financials.
Discuss your business needs in a free initial consultation, where we outline how our services can be customised for you.
Our approach — the human touch
In a world dominated by numbers, we prioritise people; the human touch. Our unique approach sets us apart, creating lasting relationships built on trust, understanding, and mutual respect.
We genuinely care about the well-being and growth of your business, going the extra mile to ensure your financial stability and success. We’re approachable and available, always ready to lend a listening ear and provide expert advice tailored to your specific needs.
What to expect
Why choose our limited company services?
Your business is unique, and so are our services. We tailor our offerings to fit the specific needs of your limited company.
Expertise at your disposal
Our accountants specialise in limited companies and are equipped with the knowledge and experience to offer you best-in-class service.
Our digital tools are backed by real people who genuinely care about your business success.
From advice and support on tax-efficient practices to helping you meet tax deadlines, we offer comprehensive services that leave no stone unturned.
Our fee structure is transparent, with no hidden charges, so you can budget effectively.