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Limited Company

What is a Limited Company?

A limited company ensures that the owner(s) has limited liability. If things go badly wrong and a limited company fails, its director(s) and shareholder(s) has 'limited liability'. This means their personal assets cannot be touched.

A private limited company is owned by its shareholder(s) and operated by a director(s). It needs to issue just £1 worth of shares to open for business.

No Risk at Home

The company's finances are totally separate from the personal finances of their owner(s). Shareholders in a limited company are not responsible for the company's debts.

To go into business as a limited company, the company must:

  • Be registered with Companies House
  • File annual accounts and an annual return each year
  • Update Companies House with basic details relating to the company and director(s)

Tell Me Tell You

HMRC must be informed if the company has any profits or income that is subject to tax. Also, a limited company must complete an annual HMRC corporation tax return and pay any taxes within nine months of its financial year end.

Anyone employed by the company must pay income tax and Employees National Insurance. The company must pay the corresponding Employers National Insurance in respect of the employee(s).

  • Complete our simple registration form and we will contact you to ensure you have the information you need to make your contract successful

  • As professional payroll accountants we provide the right option to suit you. We provide advice and guidance on the right payroll solution for your contracting career

  • When it comes to Tax and Payroll, we are the experts. Let us take the strain and keep you compliant and well paid while you focus on your contract

  • Ready for the next step? Our limited Company payroll and comprehensive tax returns solutions are second to none