Accounting Services for Limited Companies
At Approved Accounting, we offer specialist accounting services for businesses that are setting up or already operating as a Limited Company.
What is a Limited Company?
When you are first starting out, deciding how to set up your business can be confusing. However, we believe that if you are a start-up, small business or fast-growing company that is seeking investment, then using a Limited Company offers a great way to maximise your profits in a tax-efficient way, whilst also keeping risks to a minimum.
One of the biggest benefits to becoming a Limited Company is that it allows the owner to separate their personal affairs from their business venture. This means that the owner’s liability is limited to the amount of money/assets they have invested, ensuring that they are usually not personally liable for company debts.
At Approved Accounting we can help safeguard your personal assets and put your business on a strong footing by setting up your Limited Company. We’re here to advise and support you every step of the way, and we’ll take care of everything from submitting annual accounts and tax returns to preparing formal documentation and guiding you through the relevant legislation.
The benefits of being a Limited Company
A lot of our clients make the decision early on to use a Limited Company. This is due to the number of benefits it brings, compared to trading as a Sole Proprietor or Partnership.
• Limited liability: As explained above, if you trade as a Limited Company and something goes wrong, as the owner you will not be personally liable for any financial losses incurred (providing you have followed rules and regulations). If someone chooses to seek compensation, then they do so against the company you are trading as and not you as an individual.
• Companies House: Once you have registered your company name at Companies House, it is protected by law. This means that other businesses are unable to trade under the same name as you or anything which is deemed as similar.
• Different entities: When you set up a Limited Company, it is a separate legal entity. Therefore, you will need to set up a separate company bank account to record all assets and cashflow relating to the business. This legal requirement actually creates a very healthy and useful dividing line between the business’ funds and your own, which should always stay separate.
• Tax efficient:Small businesses generally choose to trade as a Limited Company as it often allows them to operate more tax efficiently. Taking an income through dividends gives you a degree of control over your own personal income and tax liability, and can save on National Insurance costs.
• Professional perception: If you are a company doing business with larger companies, then being Limited is often perceived as being more professional and gives you a higher degree of credibility.
Your options are never limited when you work with Approved Accounting!
Setting up, owning and operating a Limited Company takes time and commitment, and there are a number of strict processes which need to be adhered to. One of the easiest ways to release the administrative burden from your shoulders is to outsource it all to Approved Accounting.
At Approved Accounting, we offer specialist accounting advice and packages for Limited Companies who need help managing their finances. If this sounds like you, then we can provide you with dedicated support to ensure that your company is run efficiently at all times.
We’ll keep your paperwork in check, costs under control and make sure that you never miss a deadline. And in addition to all that, we can even offer you advice on how to save money and plan for the future.
Not only can we help with the formation and setup of your Limited Company, but we can help you to manage your money efficiently. Using our secure, cloud-based accounting system – Xero – we can monitor your expenditure and help you to automate your invoices, expenses, payments and cashflow. Simple and easy to use, Xero is the perfect book keeping system for Limited Companies, and is comprehensive in its insights and reporting capabilities.
Approved Accounting can help your Limited Company succeed by offering the following services: –
- Companies House and HMRC administration – setup and competition of abbreviated accounts
- Maintaining online accounting records through Xero
- Submission of corporate tax return to HMRC
- Director self-assessment returns
- Tax advice and recommendations
- Invoicing/ledger management
- Payroll services
- VAT returns
- National Statistics reporting
- Construction Industry returns (CIS)
- Payment processing
- Automatic reminders of important deadlines
Monthly accounting packages for Limited Companies
We offer cost-effective, fixed-fee packages based around your Limited Company’s needs. Our fees can be tailored to fit the nature of your business and together we’ll find the ideal service solution that suits you. There are no hidden costs – ever – and we can even provide you with a range of additional services that are truly bespoke to you. Take a look at our example accounting pricing packages.
Why choose Approved Accounting?
Approved Accounting started over 30 years ago and was born out a passion to provide a personable financial service that could act as an extension to any business.
Priding ourselves on our industry knowledge, hardworking attitude and flexible and adaptable approach, we have continued to grow, invest and develop in order to give our clients the best financial advice and accounting service possible. And it seems our clients agree, with many telling us that working in partnership with Approved Accounting, was the best business decision they’ve ever made.
Find out more about our Limited Company accounting
Approved Accounting specialise in Limited Company accounting and can offer a host of services that will not only take the stress out of your financial planning but can streamline your day to day admin. We can provide support with setting up a new business or advise you on how to maximise profits and cashflow with an existing venture. To find out more contact us.