Setting Up A Limited Company Doesn’t Have To Be Difficult
If you plan on being a contractor long-term or generating a significant rate for your services, then a limited company may be the best solution for you.
Running your own business opens many doors to new opportunities and increased financial reward; but does also introduce statutory and financial obligations such as submitting annual accounts to Companies House, company tax returns and meeting HMRC deadlines.
Appointing Whittaker & Co as your accountant will give you the confidence that your finances are in the best hands.
Some Major Points To Consider
- Keep full and accurate records from the start
- Register the company with Companies House
- Open a business bank account and keep your personal finances separate
- Register the company for PAYE if there are employees
- File company annual return on time
- File company accounts on time
- Pay corporation tax and PAYE on time.
Expenses You Could Offset Against Tax
- Travel & Accommodation expenses
- Telephone and Internet for business use
- Percentage of household utility costs for using a room as an office
- Mileage (if you use your mileage you cannot claim any other vehicle-related expenses)
- Travel costs, fuel, train, flights, taxi. Etc.;
- Protective clothing
- Accountancy Fees/Professional Fees
- Office Equipment
- Specialist Equipment.
What Whittaker & Co Can Do For You
- We will help with the set up of your Ltd Company
- Register your Limited Company for you
- Provide an advisory service to guide you through the process of working through a Ltd Company
- Register the company for PAYE if required
- Help keep full and accurate records from the start
- Submit the company annual return on time
- Submit the company accounts on time
- We can advise you when your Corporation Tax and PAYE will need to be paid.
- We offer bespoke bookkeeping packages based on your needs.
- We can assist with the preparation and filing of VAT Returns.
- We can assist and submit monthly CIS Returns.
Setting up a limited company doesn’t have to be difficult. Contact us today and let us advise you on what you need to do.