Limited Company Accounts

For a limited company you have a statuary responsibility to prepare both annual accounts for Companies House and Corporation Tax return for HMRC also known as CT600.

Limited Company Accounts and Taxes By Total Tax Accountant

 LIMITED COMPANY ACCOUNTS

Importance of a Limited Company's' Accounts

A limited company’s ‘year end’ is the date the company’s accounting period ends. It’s also the date for a limited company to send certain documents to HMRC and Companies House.

As a limited company, if you prepare your annual accounts using the financial reporting standard for micro-entities (FRS 105) then you need to submit 2 types of documents to Companies House: the Statement of Financial Position as well as the Footnotes.

At Total Tax Accountants we take each company as an individual and draw a tax planning accordingly. Type of planning solely depends on type of trade and turnover your company has. Commonly these planning’s include combination of salary / dividends, working from home allowance, travel expense if using personal car, type of assets company intend to buy, Life insurance for directors and identification of any tax relief available.

The Deadlines

The submission of a limited company accounts are generally 9 months from the close of company accounting year. iXBRL accounts and company tax returns both needs to be filed with HMRC with CT600. Any corporation tax payable also must be paid within 9th month after the end of company accounting year. These accounts must be prepared in accordance to the guidelines set out by Companies House, HMRC and Financial reporting standards.

Above all tax planning models mentioned are then designed by our expert tax advisors around your business activity and turnover forecast.

 LIMITED COMPANY ACCOUNTS

How can we help !

At Total Tax Accountants we can help you fulfilling all your statuary requirements in order to run your business smoothly. Our expert tax advisers can help you be on a most tax effective plan from day one to save you from big tax bills.