Limited Company
Did you know that you can often save tax by taking share dividends (profits) instead of directly paying yourself? Talk to Discountants about optimising your income
Is a limited company right for you?
Often considered as more 'serious' than self-employment, for those making the transition from self employment, this is exactly what it can be. However, in its simplest form, the structure of a limited company is very suitable for the management of buildings and other not-for-profit arrangements involving a number of people.
Unlike a partnership where everyone is equally responsible (culpable!) a limited companies needs are "served" by its directors but its ultimate power lies with its shareholders. Thus any number of people can be involved according to their ownership or service roles.
Forming and maintaining limited companies with Discountants.
At Discountants, we can help you decide if it is the right trading vehicle for you and if so, we can form it, set you up as directors and shareholders and maintain your statutory records and reporting at Companies House (the Annual Return). If you want, we can act as Company Secretary for you and if not we can point you to a piece of software which will keep your company registers for free and produce Annual Returns for a one of payment of about £15. Solo (Company Registers and Forms)
Accountant services for limited companies.
If you have a limited company already, you will be aware that it has annual accounting and tax responsibilities which it and its key personnel must meet. There are (legal!) ways of maximising your benefit and minimising your tax if you have a company. As mentioned above, salaries can be paid as dividends, assets can be bought or leased. Even mobile phone costs can be tax free in some circumstances!
We aim to be front runners in our knowledge of the massive body of tax legislation surrounding limited companies and their directors. About 10% of our accountants office time is spent in research and staying up to date. After all, you can be the most highly qualified accountant in the land but if you are not up to date, you are worse than useless!
As long as your turnover is less than £3M we can provide a full accountants service covering...
For the company...
- year end accounts
- VAT
- PAYE
- nominal and other ledger work
- routine book keeping at your premises or ours
- cash flow analysis and forecasting
- stock
- capital items
- work-in-progress
- financial planning, business plans, project accounting and growth modelling
- software consultancy, implementation and bespoke systems.
- statutory registers and filing
- web design and search engine optimisation
For key personnel...
- directors remuneration
- dividend payments
- company cars and other benefits
- personal assets
- mortgages and pensions (through our affiliated Independent Financial Advisor)
- property and other investment portfolios
