for Limited Companies from Beach Accountants
Accountants offer the following services for Limited Companies:
- Company Registration
- Annual Financial Statements
- Book Keeping
- Corporation Tax Returns
- 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
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