Limited Companies

Furthermore, it also gives your business even more authority and credibility within its target market…

The majority of small companies in the UK will be set up as private limited companies (LTDs) however all businesses are different. Some business owners feel that their company would be stronger as a PLC (Public Limited Company). Whichever you choose, you can be confident that the primary benefit of setting up as a limited company is that it will give you even more financial protection as you will not be liable personally for any potential losses made by your company.

Limited company owners only have financial responsibility for the money that they have personally invested in the business and, therefore, this makes setting up as a limited company the ideal solution for entity who are keen to make their business larger or more professional.

The Benefits Of Hiring A Limited Company Accountant

Many limited companies decide to hire an accountant to help them with the initial process of setting up their business and also to oversee all of the company’s accounting and tax affairs on an ongoing basis. Although it may appear to be an additional expense that you could do without, in fact it can help to save you time, effort and money in the long run as your accountant will work on your behalf, freeing you up to focus on making your limited company a success.

Setting Up Your Limited Company

One of the greatest benefits of hiring an accountant for your limited company is that they can navigate the setting up procedure on your behalf.

Once you’ve determine that this is the direction you wish to take, your accountant can get your business up and running in only a few hours, handling all Companies House registration matters for you and ensuring that all of the essential paperwork has been properly completed.

What Can Accountants For Limited Companies Do?

An accountant can offer many beneficial services to those who run limited companies. These include:

• Initial setting up of the limited company at Companies House
• Establishing and running your payroll system
• Preparing VAT returns for your company on a quarterly basis
• All bookkeeping requirements.
• Handling all of the initial company tax registration forms including those for VAT and Corporation Tax while also registering the company as an employer for payroll
• Completion of all payroll-related HMRC forms
• Completion of Company and Personal Tax Returns
• Provision of tenancy or mortgage references
• Dealing with all ongoing correspondence with HMRC
• Submitting the annual Confirmation Statement
• Setting up a bank account for your limited company

Benefiting from working with an Accountant

As you can see, having a limited companies accountancy specialist on board can be indispensable for the success of your business and thanks to their in-depth knowledge and expertise in the finance industry they will be able to steer your company on the path to profitability.

If you’re ready to find out more about how hiring an accountant for your limited company could benefit you, contact our team today.