Limite Company

When a limited company is incorporated, HMRC sends a letter to the respective business owner, advising him/her of the tax requirements and obligations.

All limited companies in the UK are required to pay their due business taxes to HMRC on each form of taxable income, which includes VAT (value Added Tax) and Corporation Tax. As soon as your company begins trading, it must be registered with HMRC in three months or less once business activity has started.

As a limited company owner, you need to stay right on top of your tax filing matters. You are required to file multiple forms and returns to HMRC as well as Companies House. In addition, you need to know what to file, which can often be a confusing affair.

Our accountants and tax advisors will sit down with you and have an in-depth discussion so as to what you need to file, which may include a self assessment return, P60, P11D, PAYE and Statutory Accounts, just to name a few.

How Tax Filing Works for Limited Companies

Registering for corporation tax can often be a lengthy and mentally intensive process which needs to be done on the HMRC website.

For instance, you need to create a Government Gateway account, agree to the terms and conditions and note down your User ID. Next, you must accurately provide a variety of details including:

  • Your UTR (unique taxpayer reference)
  • CRN (company registration number)
  • When your company became active
  • Main business activities
  • ARD (accounting reference date)

This is not a comprehensive list, however. It is critical to provide all required information as accurately as possible, since the HMRC uses it to calculate your 12-month corporation tax. You will then be provided deadlines for filing tax returns for your limited company for each respective accounting period.

HMRC also requires a company tax return each year, even if you have not made a profit. This requires completing and sending form CT600, along with complete statutory accounts and accurate calculations which must detail how you arrived upon the final figures. Attempting to do this yourself can be a dire mistake as you may end up paying far more tax than due. It is important that you hire accredited accountants and advisers to calculate your limited company tax return.

In addition, submitting you tax returns to HMRC within the allotted deadline is critical – if you fail to make your payment on time, you may have to pay a reasonably heavy fine.

Stay on HMRC‘s Good Side – File Your Tax Returns Effortlessly

Just to reiterate – attempting to oversee the limited company tax return process yourself can be risky and costly. There are multiple forms and returns that must be processed and sent to HMRC and Companies House according to the proposed deadlines.

As a limited company director, you must keep both authorities informed of your business activities. Get a professional tax adviser and accountant to help you with this. Don‘t risk it – your company‘s continued operations largely depend on making due tax payments on time and keeping your overall accounts in great shape all year round.

You‘re going to need bespoke advice on how to handle your allowable expenses and report them in a way so that you‘re tax efficiency stays at its peak.

Contact one of our professional accountants today to have your limited company tax return filed smoothly and efficiently. For any further queries, please do not hesitate to write to us at