Limited Companies

Let us take care of all your compliance needs. Never worry about missing an accounts or tax deadline – we’ll keep you up-to-date on when your accounts and tax returns are due, and will let you know in plenty of time what your tax liability will be.

A limited company can be really useful to reduce your tax liability, and to reduce financial risk to you personally by limiting liability. However, these benefits come with additional compliance burdens. A limited company needs:

• Accounts for the shareholders – These are detailed accounts that show income, expenditure, profit and a balance sheet.
• Accounts for filing at Companies House – For a small company, these are a less detailed version of the shareholder accounts, and just show the balance sheet and simple notes. No profit and loss needs sending to Companies House for a small company.
• Corporation tax return – This is a calculation that shows how much tax the company needs to pay.
• Payroll – A company is a separate legal entity, which means that as an owner of the business, you can’t just take money out of the company. You need to take it out through payroll or dividend. We can advise on the most tax efficient way to get your money out of the company.
• Pensions – If you pay certain employees above a set level you need to run a pension scheme. We can help you with this.
• Dividend vouchers – To get money out of the company you need to take it through payroll or by dividend.  If you are taking it by dividend, you need to prepare dividend vouchers and minutes of meetings to declare the dividends. We can prepare these documents for you.

Need more information?

If you’re looking for an accountant in Cheltenham, Gloucestershire or the rest of England, please contact us.