Industry
Accountants for limited companies
Everything a Scunthorpe limited company needs — accounts, tax, payroll, VAT and director planning in one place.
Overview
Your sector, in practice
A limited company brings limited liability, credibility and, usually, a lower overall tax burden. It also brings statutory duties: accounts at Companies House, a Corporation Tax return, a confirmation statement, PAYE obligations and directors' responsibilities that are personal rather than corporate.
We act for owner-managed companies of every size across Scunthorpe and North Lincolnshire, handling the compliance and the planning as one continuous relationship rather than a once-a-year exercise.
Challenges
What makes this sector different
Two sets of obligations
The company's duties and the directors' personal tax positions interact constantly and are frequently managed as if they were separate.
Profit extraction
Salary, dividends, pension and loans each have different consequences, and the optimal mix shifts with thresholds every year.
Director's loan accounts
Drawings taken ahead of profit create an overdrawn balance, a s455 charge and potentially a benefit-in-kind.
Multiple deadlines
Accounts, CT600, confirmation statement, payroll RTI, VAT and personal returns all run on different clocks.
Tax and accounting
Key considerations
Distributable reserves
A dividend can only be paid out of accumulated realised profits, evidenced at the time of declaration.
Associated companies
Additional companies divide the Corporation Tax profit limits and can raise the effective rate.
Employment Allowance
Not available to single-director companies with no other qualifying employees.
Shareholdings and agreements
Share class structure affects dividend flexibility; a shareholders' agreement prevents most disputes.
How we help
Our work for these businesses
- Statutory accounts and Companies House filing
- Corporation Tax computations and CT600 submission
- Director payroll and dividend documentation
- Confirmation statements and company secretarial support
- VAT registration and quarterly returns
- Annual remuneration and tax planning review
Watch out
Common mistakes we see
- Declaring dividends without sufficient distributable reserves
- Paying personal costs from the company account without recording them
- Missing the s455 repayment window on a director's loan
- Forgetting the confirmation statement deadline
- Setting a salary level once and never reviewing it
FAQs
Limited Companies questions
Statutory accounts to Companies House within nine months of year end, a CT600 to HMRC within twelve months with tax payable at nine months and a day, an annual confirmation statement, plus payroll and VAT filings as they apply. We track all of them for you.
Enquire
Tell us about your business
A short conversation is usually enough for us to tell you whether we can improve on what you have now.
Related services
Services that work alongside this
- AccountingA complete accounting relationship: statutory compliance, regular reporting and someone to ring before you make a decision.
- PayrollFully managed payroll with RTI filing, pension auto enrolment and payslips delivered on schedule, every period.
- Year-End AccountsStatutory accounts prepared early, filed correctly at Companies House and explained in a meeting rather than an email.
- Corporation TaxComputations and CT600 filing, with the reliefs, allowances and extraction strategy reviewed before the return is submitted.
Related industries
Businesses we work with
- ContractorsLimited company contractors and CIS subcontractors — status, extraction and cash flow handled properly.
- ManufacturingProduct costing, stock, capital allowances and R&D relief for manufacturers in an industrial town.
- EcommerceMarketplace reconciliation, VAT on online sales, stock valuation and true profit by channel.
- Professional ServicesConsultancies, agencies and practices — utilisation, work in progress, partner drawings and extraction.