Welcome to Audtax, accountants for Limited companies
AudTax has more than 10+ years of limited company accounting, and we serve all sorts of small businesses in the Central and East London areas. Our aim is not just to keep your business compliant but also to help it thrive and grow.
We offer a range of limited company accounting services which can be tailored to your business. Whether you are starting a new company or are already managing an established limited company, we can devise a cost-effective monthly package to meet all or some of your accounting needs.
At AudTax, we are passionate about what we do, and our team is committed to offering a high-quality service, for which we have won many positive reviews. We pride ourselves on being responsive, and each client manager is on hand to answer questions within 24 hours by telephone or email.
To arrange a free 15-minute discovery call, please get in touch.
What does a limited company accountant do?
As a limited company owner, you have various legal responsibilities to Companies House and HMRC. Specialist limited company accountants like AudTax provide a comprehensive range of financial services to help you remain compliant.
That includes the basics of accounting like bookkeeping, payroll, VAT returns, Corporation Tax returns and filing annual accounts. AudTax carries out these services using the latest accounting software compliant with Making Tax Digital (MTD).
These services can save precious time and money, as well as relieving the stress of compliance and missed deadlines.
In addition, an accountant can provide valuable business advisory and financial analysis to help you make important business decisions and grow your company.
Where AudTax really excel is in tax planning. As your accountant, we can help save your limited company money on tax by identifying deductions and credits. We’ll also help you devise tax planning strategies to minimise the company’s tax liability while effortlessly ensuring compliance with legislation.
Why is accounting important for a limited company?
Limited companies are obligated to maintain accurate accounting records, including income, expenses, assets, liabilities, and other financial transactions. These records are crucial for preparing and filing annual accounts, complying with tax obligations, and providing transparency to shareholders and regulatory authorities.
Failure to keep proper accounts can result in legal penalties and financial consequences for the company and its directors. So it’s wise for limited companies to work with an experienced accountant to ensure compliance.
What’s more, an accountant can help your company to save money and provide analysis to help meet your growth ambitions.
Our limited company accountancy services
We provide all the support your limited company needs to be financially successful, including:
- Payroll – We’re here to help you navigate payroll regulations and complete the monthly process on your behalf to ensure your staff are paid correctly and on time.
- VAT – The team can offer expert advice on VAT and file your returns using MTD compliant software.
- Bookkeeping – This is the backbone of good financial management, and you can rely on us to keep your records in immaculate order.
- Cloud accounting – We are experts in a range of cloud accounting software such as Xero, Sage, Quickbooks, FreeAgent, Dext and Kashflow.
- Management accounts and business advisory – We can empower you to make more profitable business decisions with expert advice and regular analysis of your finances.
- Year End Accounts : Your year end accounts are required by HMRC and Companies House and needed for businesses in order to make important decisions.
- Tax investigations – If you find yourself under scrutiny by HMRC, having our team in your corner can make the process less stressful.
- Tax planning – With careful planning, we can help to make your limited company more tax-efficient and profitable.
- Corporation Tax Returns: Our accounting and tax services can help to minimise your Corporation Tax bill and boost your bottom line.
- Personal tax for company directors – We’ll take care of your self-assessment tax return and provide advice on taking a salary versus dividends.
- Research & Development Tax – If your limited company carries out any sort of R&D, you may be entitled to claim valuable tax relief.
Frequently asked questions about limited company accounting
Can an accountant register my limited company with Companies House?
Absolutely. If you are launching a new business or already operating as a partnership or sole trader, we can advise you on which business structure is most appropriate for your circumstances.
If you decide to go down the limited company route, we can take care of your company registration as well as providing valuable advice on a shareholding structure.
What taxes does a limited company have to file?
A limited company must prepare and file company accounts and a Corporation Tax return every year. If the company is registered for VAT, then the company also needs to file regular returns using MTD-compliant software like Xero or Quickbooks. If your company employs permanent staff, you must also register as a PAYE employer and submit a monthly payroll with accurate NI and income tax deductions.
How can I find a limited company accountant near me?
When it comes to finding a good accountancy firm, location is no longer a consideration. Thanks to online accounting technology, AudTax can provide our entire range of services to businesses across the UK.
What are the advantages of registering as a limited company?
There are many advantages of registering as a limited company, most notably limited liability status and tax savings.
As a self-employed sole trader, your business is registered in your own name, and you are personally liable. If it runs into financial difficulty, then you are responsible for repaying the debt, and your personal assets may be at risk.
As a limited company director, you are considered a separate legal entity from your business. This limited liability status means that your personal assets are protected.
Another popular reason for choosing to register as a limited company is tax efficiency. For business owners paying the higher rate of income tax, there are significant savings to be made. Company directors can also choose to pay themselves a combination of salary plus dividends, resulting in less personal tax.