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Limited Company Accounts

A limited company is required to report to HMRC and Companies House each year on its performance and does so by producing a set of accounts.

In order to produce the limited company’s accounts, we would need the following items;

• Copies of limited company business bank account statements
• Bookkeeping forms (to include invoices & expenses)

Once the limited company accounts have been finalised we can calculate the Corporation Tax payable for the limtied company’s year of trade.

Corporation Tax

Corporation Tax (Dividend Tax) is a company tax that is payable on all profit in the business.

Current rates for Corporation Tax can be found here.

Company profit is the amount left after all costs, salary and pension contributions have been deducted from the company turnover.  The company must pay Corporation Tax on that profit which is due to HMRC within 9 months of your company’s year end date passing.

When the company year end has passed, we would finalise the company accounts and calculate the limited companies Corporation Tax liability.

The Director of the limited company has final authority to approve and sign the accounts before final submission to Companies House and HMRC.  A personal accountant will discuss the company accounts in detail and ensure any questions are answered.

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