What to do when you have a Limited company?
- File Company’s Annual Return to Companies house every year. ( To be filed every year, within 28 days from the anniversary date of the company).
- File Abbreviated Set of accounts to company’s house every year. ( Within 9 months after the year end date)
- Pay any Corporation Tax due, within 9 months and one day after the year end date.
- File full set of Accounts to HMRC every year. ( To be filed within 12 months after the year end date)
- 5 – File Company Corporation tax return to HMRC- CT600 ( to be filed within 12 months after the year end date).
- Register your Business for VAT if turnover is above the VAT threshold or you can register on a voluntary basis.
- File VAT return usually quarterly – only if you are VAT registered.
- If you have employees, you should set up a PAYE system to collect income tax and National Insurance contributions.
- File monthly payroll under real time information. Only when you have a PAYE scheme in place.
- File Self-assessment tax return every year – Being a director of the company. ( Only when you take a salary or dividends from the company)
- Other Requirements, depends on individual circumstances such as filing P11D etc
- Keep records of all Sale invoices
- Keep records of all Purchase invoices Expenses – if you are our client, you can request us a list of possible allowable expenses. This will give you an idea what you can and can’t claim for.
- Keep records of business bank statements
- Keep Record of VAT – if registered
- Keep records of all the employees & casual labor
- Keep records of business credit card statements if any.
- Keep records of any other information which you believe is relevant
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