Accounting for Limited Companies
Accounting for Limited Companies
Whether you’re a new business seeking assistance with starting a limited company or an established venture in need of a reliable accounting solution, Cutts & Co combines a specialist approach with expert guidance to support you and your company every step of the way.
Forming a limited company can provide the security and structure your business needs to thrive. While there are numerous benefits to transitioning to a limited company, the process can quickly become complicated and overwhelming, particularly if you’re just starting out or aiming to grow your business.
Operating as a limited company allows you to separate your personal finances from your business, offering greater protection. However, it also comes with responsibilities, such as ensuring your finances are accurate and up-to-date. This is a crucial aspect of any successful business, and Cutts & Co is here to take on the burden of managing your accounts, so you can focus on what you do best.
Limited Company Accounting with Cutts & Co
- With Cutts & Co, you’ll receive a unique approach to your limited company accounts.
If you are just starting up, we can help you to get registered with Companies House and provide ongoing accounting support for a new limited company.
- A team you can place your trust in
We utilise the advantages of cloud-based software to simplify the approach to record-keeping, and implement bespoke system improvements unique to the industry. Our Xero Gold Accreditation guarantees industry leading service.
Our approach at Cutts & Co goes beyond simply managing your accounts—we generate powerful, real-time reporting that empowers you to make informed decisions. Our service is ideal for businesses seeking support in managing and maximising the potential of their accounting processes.
If you’re an existing limited company looking for a fresh accounting solution, our bookkeeping and tax experts can efficiently administer the statutory books and records of your business, ensuring compliance and optimising your financial operations.
- Support for forming a limited company with Companies House
- Expert advice on where you could save tax
- Streamlining Structure to maximise Porfitability
- Managing Payroll
- Invoice Management
- Company Tax Returns
- Submitting corporate tax with HMRC
- Online account management with Xero
- Gold Accredited Service
What is a limited company?
A limited company is a popular business structure designed to separate a business owner’s personal assets and finances from those of the business. This separation offers an additional layer of financial security for the owner(s), as they typically won’t be personally liable for the company’s losses or debts.
This principle, known as limited liability, provides essential personal protection if the company encounters financial difficulties. By establishing a limited company, business owners can safeguard their personal assets while continuing to pursue their business goals with greater peace of mind.
Starting a limited company
In the UK, setting up a limited company can be done quickly through Companies House, often within 24 hours. This swift process enables you to establish your business identity, legally protect your company name from being copied, and start trading under your own name.
At Cutts & Co, our knowledgeable experts can guide you through every step of the process or handle the entire company formation on your behalf. We ensure that all your documents are accurately completed when you register your limited company. Beyond formation, we manage your accounts and records, including tax documentation, so you can trade with peace of mind, knowing your financial matters are expertly handled.
Why start a limited company?
While limited companies are often established to protect personal assets by limiting liability, there are many additional reasons why forming a limited company might be the ideal choice for you and your business.
As a limited company owner, you have the flexibility to take a significant portion of your income as dividends, reducing your taxable salary and potentially lowering your overall tax burden. However, you’ll also need to manage corporation tax, and Cutts & Co can help you navigate this process correctly from the outset. By structuring your income effectively, you gain greater control over your tax obligations, ensuring your company operates as tax-efficiently and profitably as possible.
As a separate legal entity, a limited company not only protects you as the owner but also allows the business to maintain its own bank accounts, records, and assets. This separation ensures the business can operate independently and continue to thrive, even if you choose to step away. It also enables others to interact directly with the company, creating a professional environment distinct from your personal identity.
Moreover, limited company status simplifies succession planning in the event of resignation, retirement, or the passing of the owner, making transitions smoother and more straightforward.
Why start a limited company?
If you’re looking to establish a lasting structure for your business, forming a limited company may be the ideal solution. By choosing this business structure, you can limit your personal risk while providing your company with the solid foundations it needs to succeed as an independent entity.
