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Limited Company:
Limited Company:
We will help the client in selecting the structure of the organisation. i.e. Sole Trader, Partnership and Limited Company as per efficient Tax planning strategies.
Benefits of Limited Company:-
Main privilege of Limited company is that the company is a separate legal entity from its owners and that is very important as it means that all the debts are the responsibility of the company and not that of the director.
Directors personal assets are protected from Business Creditors if for any reason the company goes into liquidation.
Directors and shareholders can be added and removed easily.
Tax efficiency view of Limited Company: -
1. Limited Company will save tax as Dividend are taxed at a lower rate and no National Insurance will be paid.
2. Class 4 N.I will be saved, which will be paid through self-assessment route.
3. Corporation Tax will be taxed at 17%.
4. Directors can run PAYE and take their Salary.
Companies and Director need to submit following returns: -
1. CT-600 – HMRC – Annual Accounts.
2. Companies House – Annual Accounts.
3. Confirmation Statement: - Companies House.
4. Self-Assessment Tax return of Directors.
5. Every Month – RTI and year- end returns if running PAYE system.
We will take care of clients Book-keeping, preparing Annual Accounts and submitting all returns as above.
Our rates vary depending upon the number of transactions from £50 per month to £150 per month.