A limited company is a form of business that is completely separate from its owners. It has to be incorporated at Companies House with its own unique company registration number, and is run by directors who may also be the owners of the company.
Even if you are the sole director and shareholder of a limited company, it is still a separate legal entity from you.
If you are unsure whether to work as a sole trader, or through your own limited company, see our page: Limited Companies versus Sole Trader.
When you are in business working through a limited company there are more legal requirements than if you are in business as a Sole Trader. The company has to keep proper records, prepare accounts showing the company’s income and outgoings, and file a Corporation Tax Return with HMRC each year, and submit annual accounts to Companies House. As the company is governed by the Companies Act it must make returns of information to Companies House at least once a year. This information is held on the public register, available for everyone to see.
If the company’s turnover is over £85,000 or you expect it to go over in the next month you must register the company for VAT.
It can be very daunting when you first set up a business, and even more so when you want to work through your own company, as you will have statutory obligations to consider. But with our help we can guide you through the process. If you get it right from the start you can save time, money and stress. There is a lot to do, and we are happy to assist in any way that we can.
If you have had your company for a while, we can prepare your limited company accounts, Corporation Tax Return and file the annual Confirmation Statement with Companies House.
We are very proud of our friendly, professional service, and we tailor it to suit you.
We also offer: bookkeeping and management accounting service should you require it.
"we can take away the stress and let you get on with what you do best".
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