Limited Company

What should you know?
What HDH Accountants can help with

Limited Company Accounts

A limited company is a type of business structure where the company has a legal identity of its own, separate from its owners (shareholders) and its managers (directors). The tax rules for a limited company are slightly different to other company structures and need to be addressed as such. At HDH Accountants we will go through with you what constitutes a limited company, the types of tax you must pay and how much you as an individual or business owner will have paid by the end of the year in regards to your profits and loss.

Starting your Limited Company

The steps for setting up a limited company and things you will need:

  • Name of your Company (example: ABC Ltd.)
  • Registration Number (“12345678”)
  • Start Date (the day when accounting period begins)
  • Main Address (where business will be operated out of)
  • Type Of Activity (or industry about which a Registered Trade Mark is to appear)
  • Name And Home Addresses For Directors
  • You’ll need to register for corporation tax. You can do this through HMRC on the Gov.uk website

Key things to know

 ‘Limited Liability’ in a limited company?

The major reason why a limited company is a popular structure for a small business is the ability to limit the liability. The owners of the company are protected by ‘limited liability’. Unless there’s fraud or other serious wrongdoing causing the business to fail, the amount debt for the owners of the company  is strictly limited. If the company cannot meet its debts or liabilities, the owners usually risk losing only their initial investment and any personal guarantee they have made against the business.

Additional Funding Opportunities

There are many tax incentives, grants and funding initiatives available to UK businesses. Whether you’re a start-up or an established business, we can provide you with the crucial advice that will help you access additional cash to help your business grow. We are partnered with Counting King, an industry leading firm, that specialise in tax incentives that can support you with accessing additional funding support. Get in touch to find out more about what cash is available to you today! 

Limited Company Accounts

Overview

A private company who's owners filled in a general form of incorporation so they are legally responsible for its debts only to the extent of the amount of capital they invested.

Overview

A private company who's owners filled in a general form of incorporation so they are legally responsible for its debts only to the extent of the amount of capital they invested.

Accounts

The company must file a Corporation Tax return with HMRC every year. Even if the company has only one individual involved as a shareholder and is the only director, the company is still a separate legal entity.

Accounts

The company must file a Corporation Tax return with HMRC every year. Even if the company has only one individual involved as a shareholder and is the only director, the company is still a separate legal entity.

Data Driven

The company must file accounts and a confirmation statement each year with Companies House. These are then available for public viewing. The company must also file a Corporation Tax return with HMRC every year.

Data Driven

The company must file accounts and a confirmation statement each year with Companies House. These are then available for public viewing. The company must also file a Corporation Tax return with HMRC every year.

For any help or advice please contact us:

Make sure your Corporation tax is paid on time and correct.

After the end of its financial year, your private limited company must prepare:


You need your accounts and tax return to meet deadlines for filing with Companies House and HM Revenue and Customs (HMRC).

You can also use them to work out how
much Corporation Tax to pay.

How often do limited companies pay tax?
 
The total corporation tax that you owe must be paid no later than nine months and one day after the end of your company’s accounting period ends. Limited companies have the choice of when to set their accounting year end date but once it is set, it must be the same every year.

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