Accounting services for limited companies
At Approved Accounting, we have vast experience working with ambitious limited companies. Our limited company accountancy packages are flexible, transparent and designed with your goals in mind.
Whether you’re starting up a new venture, making the transition from sole trader, or managing an established business, our limited company services can keep your business compliant, cost-efficient and primed for growth.
Our team understands the unique challenges faced by limited company owners and provides hands-on support to make financial management easier and more effective. From tax compliance to payroll services, we’ve got you covered. Contact us today.
What is a limited company?
When you first start out, choosing how to set up your business is a big decision. Many businesses start life as sole proprietorships, but if you are an ambitious start-up or fast-growing company seeking investment, registering as a limited company may be more prudent.
One of the main reasons for registering as a limited company is that the owners are considered a separate legal entity. This means the owner’s liability is limited to the amount of money and assets they have invested. If the worst happens, they are not personally liable for company debts or legal proceedings.
As your dedicated accountant, we can advise on the right time to incorporate your business and set it up on your behalf. We will ensure you understand your new responsibilities as a company director and support you every step of the way.
The benefits of operating as a limited company
Many of our clients decide early on to adopt a limited company setup. This is because it offers many benefits over trading as a sole trader or partnership.
Limited liability
As a limited company director, you are not personally liable for your company’s financial losses (provided you comply with the relevant legislation, of course). That means you are only liable for the amount of money you invest in the business, and your personal assets are protected, giving you valuable peace of mind.
Brand protection
Registering your company name with Companies House legally protects it, ensuring that no other business can operate under the same name. This not only helps your business stand out in the marketplace but also protects you from any reputational harm that might arise from another company sharing the same name.
Improved financial health
When you set up a limited company, you must open a separate company bank account to record all assets and cash flow related to the business. This creates clarity and acts as a healthy and useful dividing line between the business’s funds and your own.
More tax efficient
Many small businesses choose to trade as limited companies, which offers more tax efficiency for both the company and its director(s). The main rate of corporation tax is lower than the higher rate of income tax, meaning that the company can retain more profits. For directors, this structure allows them to take a combined salary and dividends, resulting in personal tax savings.
Professional perception
When working with larger companies, operating as a limited company is often seen as more professional and reputable, boosting your credibility with clients, suppliers, and potential investors. This can lead to greater opportunities and help establish stronger, more reliable business relationships.
Why use limited company accountants?
Running a limited company comes with unique responsibilities, and having a dedicated accountant can make all the difference. A specialist accountant ensures you stay compliant with tax laws, meet deadlines, and keep your finances in order, giving you peace of mind.
An accountant can take the pressure off by managing tasks like payroll, VAT returns, and corporation tax, ensuring everything is handled accurately for each accounting period so you can focus on growing your business.
With expert advice on tax efficiency and financial planning, you’ll save time, reduce stress, and make better business decisions. Think of them as a trusted partner in your company’s success.
Tailored accounting solutions for limited companies
Starting, owning, and running a limited company requires significant time and dedication, as well as compliance with various regulations. Partnering with a specialist limited company accountant can greatly alleviate the administrative load.
At Approved Accounting, we provide expert accounting services and flexible packages tailored to the needs of limited companies. Whether you’re just starting out or managing an established business, we offer dedicated support to keep your operations running smoothly.
Beyond helping with company formation, we can also help manage your finances efficiently. We can handle the details of everyday financial tasks, ensuring deadlines are met, and your business remains on track. Additionally, we can provide strategic advice to help you save on taxes and plan effectively for the future.
With Xero, our secure, cloud-based accounting system, we can track your expenses and streamline tasks like invoicing, payments, and cash flow. Xero is user-friendly and offers detailed insights and reporting to ensure your business is always on top of its finances.
Our limited company accounting services
We can help your limited company succeed with a combination of the following services:
- HMRC and Companies House administration
- Bookkeeping using Xero, a secure online accounting software
- Submission of corporation tax return to HMRC
- Directors self-assessment tax returns
- Tax planning and tax advice
- Invoicing/ledger management
- Payroll services
- VAT returns
- Construction Industry Scheme (CIS) returns
- Payment processing
- Automatic reminders of important deadlines
Cost-effective limited company accountant fees
We offer cost-effective, fixed-fee accounting packages based on your limited company’s needs. Our fees can be tailored to fit the nature of your business, and together, we’ll find the ideal service solution that suits you. There are no hidden costs – ever – and we can even provide you with a range of additional services that are truly bespoke.
Why choose Approved Accounting?
Approved Accounting was founded over thirty years ago. It was born from a passion for providing personable financial services that could be extended to any business.
Priding ourselves on our industry knowledge, hardworking attitude, and flexible and adaptable approach, we have continued to grow, invest, and develop to give our clients the best financial advice and accounting service possible. And it seems our clients agree, with many telling us that working in partnership with Approved Accounting was the best business decision they’ve ever made.
We can make it easy to transition from your previous accountant by handling the entire transition process. From communicating with your current accountant to transferring records and ensuring a seamless setup with our services, we’ll ensure everything is managed efficiently and without disruption to your business.
Contact us today, and let us help transform your business finances.
Find out more about our limited company accountancy services
We can support you in setting up a new business and advise you on maximising profits and cash flow. To find out more and get a quote, contact us.
Frequently asked questions about limited company accounting
Does a limited company (Ltd.) have to be registered with Companies House?
Yes, registering with Companies House is a legal requirement for all limited companies in the UK. This process creates your business as a separate legal entity and protects your company name. It’s an essential step to ensure your company operates within the law and builds trust with clients and partners.
Do all limited companies have to pay corporation tax?
Yes, every limited company in the UK has a corporation tax liability. Whether a small start-up or a larger enterprise, you must pay corporation tax on company profits. Filing your corporation tax return correctly and on time is crucial, and it’s here that a good accountant can provide invaluable support.
Can you deal with my company tax return?
Absolutely. We can handle your company’s tax return from start to finish. Our team ensures everything is accurate, submitted on time, and fully compliant with HMRC regulations. We also look for ways to minimise your tax liability wherever possible, giving you more confidence and freeing you up to focus on running your business.
What responsibilities do limited companies have?
Limited company directors have several legal and administrative obligations. In addition to paying corporation tax and filing annual accounts, limited companies must ensure compliance with VAT and employer legislation (if applicable) and update Companies House with any changes to their details, such as the registered address, directors, or shareholders.
If your business distributes dividends to shareholders, it’s crucial to document these payments accurately and ensure they comply with tax rules. Approved Accounting is here to help you stay on top of it all, giving you the confidence to focus on growing your business.
