We are company accounting experts
Limited companies in the UK are required to file statutory accounts with Companies House and a company tax return with HMRC. This typically includes a director’s report, balance sheet, and a profit and loss statement.
- Whether you’re a start-up or growing business, ensuring your statutory accounts are accurate, compliant, and filed on time is critical.
- We help a wide range of businesses manage these financial requirements. From landlords to contractors and owner-managed businesses to startups, we will ensure your limited company remains compliant and tax efficient.
- We aim to establish long term business relationships and most of our clients have used us for over 5 years. We have achieved this by providing tax advisory services that proactively helps our clients shape their accounting systems and policies instead of relying on reactive services.
Our company accounts service
- Your own dedicated chartered accountant with unlimited support and low fixed fees
- Access to our accounting software so you can view
- Annual accounts prepared and filed with Companies House and HMRC
- Corporation tax return prepared and filed including advice on minimising your tax liability as required by law
- Representation of your company tax affairs with HMRC
- Annual confirmation statement
- Payroll setup & management
- Director personal tax returns
- VAT returns (if required)
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What challenges do companies face with statutory accounts?
Many business owners find the statutory accounts process complex, time-consuming, and high-risk if not done properly. Common challenges include:
- Compliance with accounting standards – Companies must follow accounting best practices to remain compliant.
- Tight deadlines – Annual accounts must be filed with Companies House within nine months of the year-end, or late filing penalties apply.
- Accuracy & audit readiness – Errors or omissions in financial statements can affect HMRC returns, credit ratings, and investor confidence.
- Company size classification – Misclassifying the company size may lead to over-reporting or non-compliance with exemption rules.
- Link with corporation tax returns – Statutory accounts form the basis of CT600 corporation tax filings, requiring consistency and accuracy across submissions.
- Changing regulations – Keeping up with changes in accounting standards and Companies House filing requirements can be difficult without specialist knowledge.
How do we meet these challenges?
Our specialist services for company accounts and tax offer tailored solutions to meet these unique challenges and maximise financial returns including:
- Preparation of statutory accounts – Creating fully compliant year-end accounts tailored to your business’s legal structure and size.
- Filing with Companies House & HMRC – Submitting statutory accounts on your behalf to Companies House, and ensuring they align with your corporation tax return submitted to HMRC.
- Audit preparation & support – Assisting with audit-ready accounts and working with auditors to streamline the process.
- Director & shareholder Reports – Producing detailed reports and summaries to help directors, shareholders, and investors understand the company’s performance.
- Advice on company structure & size – Helping determine the correct reporting framework, eligibility for audit exemption, and small company filing options.
- Integrated year-end services – Combining statutory accounts with tax planning, management reporting, and advisory to streamline compliance and support strategic decisions.
- Deadline monitoring & reminders – Providing automated alerts and personal reminders to ensure your accounts are always filed on time.
Frequently asked questions
What is a limited company?
A limited company in the UK is a business structure that operates as a separate legal entity from its owners and managers, offering limited liability protection to shareholders. It must be registered with Companies House and comply with filing requirements, including annual accounts and corporation tax returns. The company pays Corporation Tax on its profits, while directors and shareholders are taxed on salaries and dividends. This structure provides credibility and potential tax benefits but involves more administrative responsibilities compared to a sole trader.
What accounts does a limited company need to file?
In the UK, a limited company must file several key documents, including annual accounts with Companies House, consisting of a balance sheet, profit and loss account, and potentially a cash flow statement and notes. It must also submit a Corporation Tax Return (CT600) to HMRC, confirming its profits and tax liability, and an annual Confirmation Statement to update company details. If required, the company must file a Director’s Report and have its accounts audited, based on size criteria. Companies may also need to file VAT returns (if VAT registered) and PAYE returns (if employing staff). Small companies may qualify for exemptions in some filings, such as audit and director’s reports.
How are limited companies taxed?
Unlike sole traders, limited companies don’t pay income tax or direct National Insurance. Instead, they pay Corporation Tax, which is calculated on their business profits after deducting allowable expenses and salaries.
Companies with VAT taxable turnover exceeding the VAT threshold or more must register for VAT. If your turnover is less, you can still choose to register voluntarily if it benefits your business. Regardless of how you register, being VAT registered means you must be prepared to submit VAT returns and pay the VAT owed.
Limited companies that employ staff (even if that’s just you, as a Director) are required to pay National Insurance contributions. As many of us know, personal National Insurance payments are automatically deducted from our monthly pay through PAYE. These deductions must be passed on to HMRC by the employing company.
How are limited company directors taxed?
While Corporation Tax, VAT, and employer National Insurance contributions are the main taxes owed by limited companies, there are other obligations to consider. Directors of limited companies must also fulfil their personal tax responsibilities through a Self-Assessment personal tax return submitted to HMRC annually.
Do limited company accounts require accountants?
While limited companies are not legally required to use an accountant, doing so is highly beneficial. Accountants can handle important tasks such as filing annual accounts and Corporation Tax returns, offer business advice, and develop efficient strategies to save your company money.
When do limited company accounts have to be filed?
You must file your company’s accounts with Companies House within nine months after the end of the company’s accounting period. Additionally, the Corporation Tax return and accounts must be submitted to HMRC within 12 months after the end of the relevant accounting period.
When do director personal tax returns have to be filed?
Your annual Self Assessment personal tax return must be filed with HMRC before 31st January each year.
Should directors pay themselves in dividends or salary?
The most tax-efficient way for a limited company director to pay themselves is typically through a combination of a salary and dividends. Many directors opt to keep their salary low, below the National Insurance threshold, and take a larger portion of their income as dividends. The salary is paid in the same manner as it would be to a regular employee.
Do limited companies register with Companies House?
Yes, limited companies operating in the UK must register with Companies House as a legal requirement. This registration process involves providing details about the company, including its name, registered office address, directors, and shareholders. Once registered, the company receives a unique company number and is officially recognised as a separate legal entity.