Accounting for Limited Companies
Accounting for Limited Companies
Whether you are a new business looking for help starting a limited company or an established venture looking for a solution for your accounts, Cutts & Co combine a specialist approach and expert guidance to support you and your company each step of the way.
Becoming a limited company can offer you the security and structure your business needs to thrive. There are numerous benefits of transitioning to a limited company, however the process can quickly become complicated and overwhelming, particularly if you are just starting out or looking to grow your business.
A limited company offers you the freedom to separate yourself from your business, but comes with its own responsibilities, including ensuring your finances are in order and kept up-to-date. It’s a vital part of any successful business, and Cutts & Co are here to bear the burden of managing your accounts.
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 will not only ensure your accounts are taken care of but generates powerful, real-time reporting. Our service is ideal if you are looking for support managing and maximising the potential of your accounting.
If you are an existing limited company and looking for a fresh accounting solution, our bookkeeping and tax experts can administer the statutory books and records of your business.
- 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 common business structure typically formed in order to keep a business owner’s personal assets and finances separate from the assets and finances of the business.
This ensures further financial security for the owner or owners of a limited company, as they typically won’t be personally responsible for the losses or debts of the company. This is what is known as limited liability and can provide personal security should a company face financial difficulties.
Starting a limited company
In the UK, a limited company can be set-up through Companies House. This typically can be completed within 24 hours, meaning you can be set-up as a limited company in no time. You’ll be legally protected from new companies copying your company name and can begin to trade under your own name.
Cutts & Co’s helpful experts can provide advice for navigating the process or form the company on your behalf, ensuring your documents are completed correctly when you register your limited company. We can also make sure your accounts and records, including tax records, are prepared correctly so you can trade with peace of mind knowing your accounts are well taken care of.
Why start a limited company?
Whilst limited companies are typically started for limiting liability regarding personal assets, there are many other reasons that a limited company may be the perfect option for you and your business.
As a limited company owner, you’ll have the option to take more or the majority of your salary in the form of dividends and reduce your taxable salary. You’ll now need to pay corporation tax, and this is something Cutts & Co can help you to get right the first time. Taking your salary in this way means you’ll have more control over the tax you pay and ensure your company is as tax efficient and profitable as it can be.
As a separate entity, not only are you protected as the owner, but the business will have its own bank accounts, records and assets. This will ensure the business operates as efficiently as it can, and will also mean it can continue if you leave the business. People can now deal directly with the company instead of with you personally, allowing you to create a professional setting separate from yourself.
Limited company status also means that succession in the case of resignation, retirement or passing of the owner is straightforward.
Why start a limited company?
If you are looking to create a lasting structure for your business, a limited company may be the solution for you. You’ll be limiting your personal risk and ensuring your company has the foundations it needs to succeed as its own entity.
