Limited companies.
Don’t be limited by your tax
Trading as a limited company has more behind it than you may think – it adds a plethora of different processes and obligations. Stricter procedures on accounts, how profits are taxed and then the added responsibilities to its owners and shareholders, all need to be considered.
By explaining what this means to you, our team can help you understand the inner workings of your limited company.
Firstly, there are two types of limited company – a public limited company (PLC) and a private limited company (LTD). The ownership of either is down to shareholders, of which there can be any number of. The company itself will be its own legal entity to that of its shareholders.
Secondly, the tax you pay as a limited company will be corporation tax. Limited companies pay this tax on the company profits while shareholders must pay income tax on dividends and pay as you earn (PAYE) salaries.
As limited company accounts need to meet stricter rules, they must be prepared and presented in agreement with account regulations.
As the inner workings of limited company accounts can be a lot to get your head around, our service can provide relief and take some of the stress off your shoulders.
Contact us today about your limited company.
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Our team is just at the other end of the phone to answer any questions you may have about our services. Alternatively, fill out a web form on the contact us section of the site.