There are two types of a limited company; ‘limited by shares’ (usually businesses that make a profit) or ‘limited by guarantee’ (usually not for profit). Running a limited company is more complicated than self-employment and requires knowledge and experience.
The main company responsibilities include:
- registration and submission of annual reports to Companies House (Confirmation Statement)
- registration and submission of annual Tax Returns to HMRC
- VAT registration if the turnover in the last 12 months exceeds £ 85,000 (if you expect your VAT taxable turnover to be more than £85,000 in the next 30-day period)
- basic bookkeeping
- keeping company records and report changes
- payroll for employees
- registration for the appropriate pension system
- pay Corporation Tax
As registered agents, we are authorised to provide direct contact with HMRC on your behalf. We cooperate with clients in our office, by phone, post and by e-mail.