Ltd Company (limited liability) - means that your personal assets are secured if the business fails, if you have given a personal guarantee that you will act so as not to indebt the company. If something goes wrong, the debt is limited to the goodwill and not to your personal assets as a company shareholder.
The Ltd Company is created by registering it in the British company register. The company is managed by one or several directors. The company has its own capital, which is the sum of share values of all shareholders. Shareholders are not responsible for the company's liabilities with their own personal assets, except for shares in the company. Limited companies are subject to full accounting, and annual statements are public and available (in a short version) for a fee from the Companies House website.
Dividends - where profits are made by the company, as a shareholder, the director of a limited company has the right to pay dividends. This option can be used only if the company generated profits at the end of the financial year.
Our Services:
• Company registration, Share confirmation (Annual Return)
• Annual Settlements (Accounts, Corporation Tax)
• Self Assessments for Directors
• Bookkeeping
• Payroll
• VAT
• Consultancy
VAT Services
• VAT Registration
• VAT Payments
• VAT Planning and consultancy
• VAT Deregistration
VAT (Value Added Tax) is a tax on specified goods and services. In the United Kingdom (Scotland, England, Northern Ireland, Wales), any company whose revenue exceeds a certain threshold within one accounting year must register for VAT payments.
Each country belonging to the European Union has its own VAT rates. VAT rates can also differ by product/service as defined by the country’s Government or centrally by the EU.
Any company whose revenues exceed the threshold of 82 thousand. Pounds (L82,000) within one accounting year must register for VAT payments.If the company's turnover is below the set threshold, it is possible to register voluntarily as a VAT payer.
To register as a VAT payer, we will complete the relevant declaration and submit it to HM Revenue & Customs (HMRC). VAT payments should be made every three months, which we can process on your behalf
There are 2 VAT categories:
- VAT included
- VAT due (excluded)
If the value of input tax (refund of VAT on purchases) is greater than the amount due (payment of VAT on sales), then we can apply for a tax refund for you at the tax office. In the opposite situation (payment of VAT on sales exceeds refunds of VAT on purchases), you will have to pay extra, which we can process on your behalf.
The advantages of VAT registration:
• the ability to recover input VAT (on company purchases)
• potential greater trust in the company - some customers prefer companies that are registered under VAT (creates the impression of a professional organisation)
• if your client is another company being a VAT payer, they have the right to recover VAT on goods/services purchased from you
• the ability to buy goods from the European Union at zero rate
Negatives of VAT Registration:
• VAT registration means you need the services of an accountancy, submitting VAT receipts every three months to HMRC and retaining associated documents for a period of 6 years.
