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Accounts Geek

Create your bespoke limited company package

What accounting services do I require

You must always prepare and send copies of the annual accounts to: 

  • all shareholders
  • Companies House
  • HMRC (part of your company tax return)

Your company’s annual accounts, also known as ‘statutory accounts’, are prepared from the company’s financial records (e.g. invoices and expenses) at the end of your company’s financial year.

You must file your limited company tax return to HMRC every year. You are still required to send a return even if your limited company made a loss or has no Corporation tax to pay. 

By filing your company tax return you can work out your:

  • profit or loss for Corporation Tax
  • Corporation Tax bill

It is compulsory to file a confirmation statement at least once every 12 months to Companies House. 

The due date is called the ‘confirmation date’, which falls on the anniversary of company formation or the anniversary of the ‘made up’ date of your last confirmation statement.

If you’re a limited company director and receive income from dividends paid to you by your company or any other self employment income, you need to send a Self Assessment tax return to HMRC, 9 months after the tax year has ended.

For example, the 2020-21 tax year ended on the 6th of April 2021, the deadline for filing your tax return is the 31st January 2022. 

Although, you can complete and file your own Self Assessment tax return, hiring an accountant can save you time, money and ensure you’ve completed your tax return correctly and on time.   

You will need to register and run payroll, with HMRC, if you pay any of your staff more than £120.00 a week. 

You must register for VAT and submit regular VAT returns to HMRC, if your turnover reaches more than £85,000.

General FAQ's

We understand it’s not a one size fits all solution when it comes to limited company accounting. 

So our ‘bespoke’ pricing model means you only select and pay for the services you require. You can keep adding on services as your grow. 

An example of a single transaction would be buying stock from a supplier or selling goods to a customer.

An invoice or a receipt is a recorded as a single transaction. This would include information like the VAT amount, net amount and supplier or customer information.

 

Hiring an accountant can free up your time so you can focus on your business. You can file your own tax returns the same way you can cut your own hair – however it’s always better to go to an expert.

Having an accountant can also save you money in many areas by increasing tax efficiency and improving cash flow.