As a hardworking company director, you deserve an accountant who cares about your business. The VAT Recovery team understands the pressures you’re under and is dedicated to supporting small businesses like yours. From business advice to tax compliance, we’re here to help.
Life as a company director is hard yet rewarding. Every milestone and win is thrilling, but let’s face it, managing your own accounts can quickly suck the joy out of the room. Here at VAT Recovery, we get it. Our team of limited company accountants exist to help ambitious business owners like you ditch the accounting headache. We know the unique challenges and opportunities you face, and we’re here to help with a proactive accounting service to keep your business on track and moving forward. Limited companies have a lot of legal and financial responsibility. Sometimes it’s hard enough to keep your head above water, let alone put any strategic thought into your finances. That’s where VAT Recovery can add value. As well as handling the accounting nuts and bolts like payroll and bookkeeping, we can also offer strategic services like tax planning and management reporting. Our aim is always to increase efficiency, provide valuable insights and maximise your limited company profits. We’re an accountancy firm that believes in supporting small businesses. If you want to turn your company finances around and strive for more, we are your team. Message us today to get started.
Rule number 1: there’s no such thing as a daft question in our book. If you’ve started out as a sole trader, you may not yet have got to grips with what being a limited company is all about. In legal terms, sole traders are considered the same entity as their business. They pay income tax on their earnings via self-assessment and keep all the company profits. While that’s great, if things go wrong and money is owed, it has to be paid from their own pocket. In contrast, a limited company’s finances and actions are separate from those of its owners. This limited liability gives limited company directors a degree of security as they are not responsible for repaying company debts in most cases. Limited companies pay corporation tax on their income and must submit an annual company tax return to HMRC. The limited liability status works both ways – the director’s personal assets are safe, but they can’t just dip into company profits. Profits can only be accessed by issuing dividends or a director’s loan, which comes with strict regulations. Setting up a limited company has several other benefits in addition to limited liability. It can be advantageous from a tax point of view, give a business more credibility, and open up new opportunities. What’s the catch? There is a ton more paperwork, unfortunately. Along with their corporation tax liability, limited companies must register with Companies House and have a legal obligation to submit year-end accounts. However, with help on hand from a good accountant, the extra admin needn’t be a concern.
VAT Recovery is here for all your accounting needs, whether you require a bit of help with your bookkeeping, tax advice or an all-inclusive service.
Are you thinking of starting a limited company? We can advise you on the right time to take the plunge and take care of the company formation process. We’ll register your new company and help you understand your new legal and financial responsibilities as a director. We’ll also provide guidance on the best share structure for your business to minimise your tax liability.
Running a monthly payroll can be a real distraction for an overworked business owner. At VAT Recovery, we offer a full payroll service, from calculating salaries and deductions to auto-enrolling your employees in a pension scheme. That way, your business stays compliant, your employees stay happy, and you stay sane.
Our experienced accountants will prepare your corporation tax returns and submit them to HMRC on your behalf, ensuring you meet all deadlines and never get hit by an unexpected tax bill. We’ll also make sure you deduct every last company expense to minimise your tax liability.
Submitting yearly accounts is a legal requirement for all limited companies. They summarise your company’s financial performance for the year and must be submitted to Companies House along with a detailed report. Our team will prepare your accounts, including your balance sheet and profit and loss statement, in compliance with all relevant regulations.
Most limited companies are registered for VAT, and many choose to register before they meet the threshold. It can give your business more credibility and allow you to reclaim VAT on eligible company purchases. If you’re thinking of registering, we can help with the process. We can also help compile and submit your VAT returns and make sure you claim what you are owed.
Whether you’re looking to start a new venture or you are a director of an established business, VAT Recovery is your ideal partner for limited company accounting. Contact us today to talk to one of our team and get started. Don’t worry; we can make it super easy to move from your previous accountant. Check out what our existing clients say about us on our reviews page. Frequently asked questions about limited company accounts
At VAT Recovery, we bow at the altar of Xero. In our opinion, there is no finer online accounting software on the market; and we’ve tried most of them.
You betcha. To become a limited company, you have to register with Companies House and keep them posted with details of your organisation and financial situation. This involves keeping the register updated with details like the company’s directors and shareholders and submitting annual accounts.
The company’s financial year is the period for which it prepares its annual accounts, ending on a chosen accounting reference date (ARD). A company’s accounting periods usually align with the financial year, which is used for preparing financial statements and filing annual accounts with Companies House.
You must keep limited company accounts and other financial records, including invoices, receipts, and bank statements, for at least six years from the end of the financial year they relate to.
Limited company accountants usually charge a monthly fee for their services.
We work with a wide range of businesses on a national level and can give you the friendly and exprt accounting advice you need.
At VAT Recovery we are able to provide our clients with a wide selection of services.
You didn’t get in to business to fiddle around with payroll and HMRC forms. We offer FREE discovery calls to individuals, sole traders, limited companies and professional businesses.
