Your Dedicated Limited Company Accounting Partner
Whether you’re looking for expert limited company accountants to handle your VAT and PAYE, ensure accurate Limited Company’s corporation tax return (CT600) submissions, or need support with self assessments and P11D forms. You want an accountant team that is dedicated to providing those services to you, and Worthwhile Accountancy is that team. A bolt-on to your business, delivering high-level expertise with a personal touch.
At Worthwhile Accountancy, we understand that managing a limited company can be complex. That’s why we provide more than just number crunching; we offer proactive support and tailored limited company accounting services to simplify your financial management and empower your business growth. We’re not your typical accountants who are hard to reach; we prioritise being on hand to answer your questions and provide timely advice.
Why Worthwhile Accountants for Your Limited Company?
Choosing the right accountants is crucial for the success of your limited company. At Worthwhile Accountancy, we offer tailored limited company accounting packages designed to meet your specific needs. We understand that as a small business or a growing limited company, you require more than just someone to file your returns; you need a proactive accountant invested in your success.
Here’s what sets us apart and why you should choose Worthwhile Accountancy for your limited company accountancy services:
Limited Company Accounting Services
Starting from £45 per month
Worthwhile Accountancy provides a comprehensive suite of Limited Company Accountancy services designed to meet all your financial needs. Our experienced team ensures accuracy, compliance, and proactive support, allowing you to focus on growing your business. We understand that every limited company is different, so we tailor our services to your specific requirements. You want Limited Company Accountants who help you drive your bottom line.
Benefits of the Limited Company Structure
Operating as a limited company offers several key advantages that can contribute to your business’s success. Worthwhile Accountancy helps you leverage these benefits to achieve your business goals, providing expert guidance and support every step of the way.
Key benefits include:
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- Limited Liability Protection: One of the primary advantages is limited liability, meaning your personal assets are generally protected in case the business incurs debts. This provides peace of mind and encourages business growth.
- Tax Efficiency Opportunities: Limited companies can offer greater tax efficiency compared to operating as a sole trader. We can provide expert tax planning advice to help you minimise your tax liability and maximise your profits.
- Enhanced Credibility: Operating as a limited company can enhance your business’s credibility with customers, suppliers, and lenders, opening up new opportunities for growth and partnerships.
Worthwhile Accountancy’s Limited Company Accountancy services are designed to help you fully capitalise on these benefits, ensuring your financial structure supports your business objectives. For sole traders and partnerships considering this transition, our small business accountant team can provide invaluable support.
What is a limited company?
A Limited Company is a distinct legal structure that offers several key differences from operating as a sole trader or partnership. Understanding these distinctions is crucial for business owners to grasp their responsibilities and the advantages of this structure.
Key Features of a Limited Company
- Separate Legal Entity: A Limited Company is recognised as a separate legal entity from its owners (shareholders) and directors. This means the company can own assets, enter into contracts, and sue or be sued in its own name.
- Limited Liability: In most cases, the shareholders’ liability is limited to the amount they have invested in the company (their shares). This protects their personal assets from the company’s debts.
- Director Responsibilities: Directors are responsible for the day-to-day management of the company and have specific legal duties, including acting in the company’s best interests, keeping accurate records, and filing required documents.
Core Compliance Requirements for Limited Companies
- Limited Company Accounts Preparation and Filing: Limited companies must prepare and file annual accounts with Companies House. These accounts provide a financial overview of the company’s performance and position. Using an experienced Limited Company Accountants is an asset as they can help manage your finances.
- Corporation Tax (CT600): Corporation Tax is a tax on the company’s taxable profits. Limited companies must file a Corporation Tax return (CT600) with HMRC and pay any tax due.
- VAT (if registered): If the company is VAT registered, it must comply with VAT regulations, including submitting VAT returns to HMRC.
- PAYE (if employing staff): If the company employs staff, it must operate a Pay As You Earn (PAYE) scheme to deduct income tax and National Insurance contributions from employees’ wages.
- Companies House Obligations: Limited companies have ongoing obligations to Companies House, such as filing confirmation statements and notifying them of changes in directors or company details.
Considering the Switch to a Limited Company?
If you’re a sole trader or in a partnership considering incorporating and becoming a Limited Company, Worthwhile Accountancy provides expert guidance to ensure a smooth and efficient transition. We understand that this is a significant decision, and we’re here to support you every step of the way.
Common reasons why a sole trader might consider becoming a Limited Company include:
- To gain limited liability protection.
- To improve tax efficiency as the business grows.
- To enhance credibility and attract investment.
The key steps involved in the transition include:
Worthwhile Accountancy can guide you through this entire process, from initial consultation and company formation to setting up your accounting systems and ensuring compliance. Our services for sole traders and partnerships are designed to provide a clear pathway to becoming a Limited Company.
Our team is experienced in helping small business accountants and their clients make this change.
Tailored Accounting for Your Business
“We are a company based in Manchester, and Worthwhile Accountancy has supported us since 2019 on a remote basis. This works really well as they are always quick to respond to our needs/issues and we feel they are part of “our team”. Nothing is too much trouble and they keep us well informed of government changes, payment deadlines etc etc.”
FAQs
Directors have various legal responsibilities, including preparing and filing accurate accounts, paying Corporation Tax, and complying with Companies House regulations. We can help you understand and fulfil these duties.
Cloud accounting software like Xero or QuickBooks can streamline your financial management, providing real-time access to your data and improving efficiency. We are Certified Xero Advisors and QuickBooks Pro Advisors and can help you set up and use these systems effectively.
Corporation Tax is a tax on your company’s taxable profits. It’s due 9 months and 1 day after the end of your accounting period. We’ll ensure your CT600 is filed correctly and on time.
You must file your Limited Company Accounts with Companies House within 9 months of your company’s year-end. We’ll manage this process to avoid penalties.
Our expert tax planning advice can help you take advantage of all available tax reliefs and allowances, minimising your Corporation Tax liability within legal boundaries.
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“Handling your own accounts and taxation can be complex and time consuming. Lack of experience can lead to serious problems in your business, which can easily be avoided. By taking expert advice, any discrepancies are spotted early and dealt with before they become a problem.”
Nicky Nevison – Worthwhile Accountancy