A personal limited company, owned by an individual, is a distinct legal entity that provides personal liability protection. The company is accountable for meeting its tax obligations and fulfilling all statutory responsibilities.
We will establish your own personal limited company, with you as the sole director and shareholder. Our incorporation service covers the registration of all pertinent taxes, including Corporation Tax, PAYE, auto-enrollment, VAT, and Self-Assessment for one or more directors.
You will be required to open a dedicated business bank account for your company. It will be your responsibility to invoice your agency or clients. Each month, you will submit these invoices to us, and we will provide guidance on the amount available for you to withdraw from the business as dividends or salary, as well as the funds that should be retained to settle your tax liability.
We will handle the preparation and submission of your company’s PAYE submissions, VAT returns, and company accounts to HMRC and Companies House. Additionally, we will manage the self-assessment for the director, and all documents will be sent to you for approval before submission. Furthermore, we will provide guidance on the necessary steps to facilitate payments.
The company secretarial services include ensuring the timely filing of the company’s annual accounts with Companies House. Company law is intricate and extensive, which can impose significant burdens on small businesses.
Management Accounts
The day-to-day management of a company and its assets imposes legal responsibilities on the directors.
The regulations surrounding the preparation and filing of documents with the Companies House have become more complex.
The rules governing the preparation and submission of documents to Companies House have grown more intricate. However, there’s no need to worry, as we can provide assistance. We possess expertise in all facets of the legal obligations of directors and company secretaries.
We will assist in forming a company for you and registering your business name with Companies House. Additionally, we will prepare and submit your annual returns, abridged accounts, and all necessary company secretarial documents to Companies House. Moreover, we will provide guidance on director and company secretary responsibilities, as well as advise on share issuance and transfer, changing your company name, managing changes in directors and/or company secretaries, and altering your registered office, among other services.
Every business relies on three essential financial statements: the profit and loss (income) statement, the cash flow statement, and the balance sheet. Together, these documents offer crucial figures and a comprehensive overview of your financial status.
For businesses in the expansion phase or those aiming to enhance their cash flow, the primary concern is often securing funding. In this scenario, maintaining consistent and updated management accounts becomes a vital tool. When seeking funding from a bank or investor, a well-structured business plan supported by forecasts and accounts can significantly bolster your chances of success—particularly if your management accounts are maintained regularly.
Our expertise in making sense of financial data enables us to assist you with your management accounts. We can analyze your financial statements, identify pertinent data, patterns, or warning signals, and provide valuable insights to aid in your decision-making process.