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Services for Limited Companies from Beach Accountants

Line chart and magnifying glassBeach Accountants offer the following services for Limited Companies:

  • Company Registration
  • Annual Financial Statements
  • Book Keeping
  • Corporation Tax Returns
  • Payroll
  • VAT
  • Management Accounts
  • Book Keeping Training
  • Business Setup Assistance for Start Ups
  • HMRC Tax Investigations
  • Online filing

This is where the shareholders own the Private Limited Company and the Directors and Company Secretary run the company on their behalf. A Limited Company has its own legal status.

The shareholders are not responsible for the debts of the company unless they have made personal guarantees or similar transactions.

Registration and Responsibilities

  • The Company must be registered at Companies House for Incorporation.
  • To incorporate, the Company has to have a set of Memorandum and Articles of Association and complete form 10 and 12.
  • The Company must register with the HM Revenue & Customs (HMRC).
  • It is a legal requirement that you should maintain good book keeping records and keep the records for six full tax years. A penalty can be imposed by HMRC if you do not keep adequate records.
  • It is advisable to check for any grants or financial assistance for start-ups or expanding businesses.
  • Any changes to the Company structure or management, Companies House have to be notified on the appropriate paperwork.

Accounting Requirements and Deadlines.

  • You must produce annual Financial Statements.
  • Verify and return a shuttle Annual Return to Companies House.
  • The Company has to submit an annual Tax Return to HMRC.
  • Financial Statements have to be filed within 9 months to Companies House.

Tax and National Insurance Contributions

  • The Directors are taxed as employed and pay Income Tax and Class 1 National Insurance Contributions under a PAYE scheme.
  • The profits of the Company are taxed under Corporation Tax rules.
  • The profits are distributed to Shareholders as Dividends.
  • See resources for information on rates.

For further information or advice contact Beach Accountants.

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