Limited Companies


It is often beneficial, for legal and tax purposes, for even quite modest enterprises to structure themselves as a limited company.


A private limited company is a company in which the liability of the members or shareholders of the company is limited to what they have invested in the company.


Limited companies are managed by one or more directors. In the case of small private limited companies the directors are often also the members of the company. Limited companies are required to file annual accounts with Companies House and to provide personal information concerning both directors and shareholders.


The company's profits are taxed under the UK corporation tax system. Small companies can take advantage of the lower corporation tax rates available. The individual shareholders of the company are taxed as individuals on dividends paid out of company profits in proportion to the number of shares held. Directors are also able to take a salary from the business through operating a PAYE scheme.


We can advise on whether a limited company structure is appropriate for your business, and can provide assistance in the incorporation of a new limited company.


We can also assist in the preparation of cash flow forecasts and profit projections to aid the raising of finance for a new company.


At J F Balshaws we prepare limited company accounts for submission to Companies House in the required iXRBL format.


We provide assistance with Companies House annual returns, corporation tax computations and submission of corporation tax returns to HMRC.