Everything You Need to Know About Getting Your New Company off the Ground.
Navigating the complexities of owning a Limited Company in the United Kingdom can be daunting, given the multitude of laws, regulations, and best practices to keep in mind. This is your comprehensive guide to understanding and managing the key aspects of running a Limited Company. This information is particularly indispensable if you are in the process of:
- Setting Up a Limited Company: Establishing a Limited Company involves a number of crucial steps, from choosing a unique company name and registering with Companies House, to setting up a company bank account and registering for taxes. This guide will walk you through these steps, clarifying the legal requirements and practical considerations.
- Understanding Directors’ Duties and Liabilities: As a director of a Limited Company, you hold certain legal responsibilities and liabilities. It is vital to be aware of these duties, which range from maintaining company records to filing Company Tax Returns and accounts. Our guide will detail these responsibilities and help you confidently navigate the corporate governance landscape.
- Managing Finances and Taxation: Effective financial management is key to the success of any Limited Company. This includes understanding the intricacies of corporation tax, VAT, PAYE, and dividends. Our guide will provide a comprehensive overview of these areas, helping you manage your company’s finances promptly and efficiently.
- Employing Staff: If your Limited Company plans to employ staff, you need to be aware of your obligations as an employer. This includes everything from setting up payroll to understanding employment law and providing a workplace pension. This guide provides essential information to ensure you meet all your obligations.
- Closing or Selling the Company: Whether you’re considering selling your company or winding it up, specific procedures need to be followed. Our guide will provide the necessary steps to ensure a smooth transition or closure, helping you understand the legal implications and obligations involved.
What’s Covered in This Limited Company Guide?
- Setting Up A Business Bank Account
- Paying Yourself: Salaries & Dividends
- Insurance
- What Do I Need To File, And When?
- Corporation Tax Returns
- Confirmation Statement
- Self-Assessment Tax Return
- Staying organised
- Business Expenses
- Your Status
- Role & Responsibilities Of A Director
- The Importance Of A Good Accounting Setup
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Kristina Williams
16:24 21 Feb 24
We've been using RJF for our accounts, payroll and corporate tax for the last 4 years. I wouldn't hesitate to recommend them. Rob has been a real asset to our business as we embark on a fundraise, he's experience and knowledge is helping us ensure we have everything in order. Thanks Rob and the team at RJF
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The best accountants we've ever used! Efficient, well-informed, excellent communication and great at tax saving hints and tips. The text/email reminders to submit VAT and tax payments are amazing - we never miss a deadline! I can't recommend RJF Accountants highly enough!
Laura Tudor
16:24 21 Feb 24
I'm so glad I found RJF Accountants. Rob is such an incredible support and the team have made everything seamless and easy to work with. I've recommended them to several other companies and will continue to do so.
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We have been using RLF Accountants for some time and are extremely pleased with the service Rob and his team provide. They are professional and helpful, providing valuable accounting advice for all our business requirements. We would definitely recommend them.
Jo Peel
16:24 21 Feb 24
Working with Rob takes the stress out of my accounts so that I can focus on the job at hand without tying myself in knots. I've recently become VAT registered and he has made me feel so much more relaxed about the process, with clear conversations and great tools to get the job done.
Tom Darlow
16:24 21 Feb 24
Starting a company is full of uncertainties - one area where we haven't had to loose sleep is our financial & accounting ops. Rob is there in your darkest hour and there to put you on the right track for tomorrow. A+ service for us at Trunk.
Christian Morrall
16:24 21 Nov 23
I've had the pleasure of working with RJF Accountants and specifically Rob for my business accounting needs, and I couldn't be happier. Rob has consistently been accessible and incredibly helpful whenever I've had questions or needed support. His knowledge and dedication have been invaluable to me, and I highly recommend RJF Accountants to anyone in need of expert financial services. Thank you, Rob, for your outstanding assistance!
Stuart Duncan
16:24 21 Jul 23
Worked with Rob and the RJF team for over 2 years. He did our business and directors accounts. Awesome service. Really easy to work, super responsive and with and a whole bunch of extra perks thrown in - love the weekly newsletter with tips and tricks for being more effective as a small business owner. Would gladly work with him again and would highly recommend to all.
Debbie Darling
16:24 21 Jul 23
RJF took over the management of my company's accounts in April 2023 and I can't praise Rob highly enough! The collation of my accounts for tax purposes was straightforward and the submissions process was managed perfectly, with payment amounts and due dates provided in a separate, easy to read document. I'm delighted to be working with Rob and the team!
Jay Williams
12:55 24 Apr 23
Been with RJF for a short time and they have already helped with cashflow and overall financial management
Ken Meaney
16:13 13 Oct 22
We moved our financial management and reporting to RJF Accountants 12 months ago, we needed more of an outsourced Finance Director to give us deeper knowledge and guidance both locally and internationally. Rob and his team at RJF are experts in their field and take the time to genuinely understand the businesses they support and the people within them.
I highly recommend RJF Accountancy to businesses that need more than just a basic accountancy service, we have been entirely satisfied from day one and look forward to a continued relationship with Rob and his team.
I highly recommend RJF Accountancy to businesses that need more than just a basic accountancy service, we have been entirely satisfied from day one and look forward to a continued relationship with Rob and his team.
Moylan Moylan
12:02 07 Oct 22
Thanks to Rob and the team at RJF in getting our first accounts done and filed on time. We are extremely busy and didn't have the time to have everything filed and ready. They pulled out all the stops. Great support
Thanks also to Rob for his advice and support especially in relation to various taxation scenarios, EIS and SEISS, other options and opportunities and regulations. Much appreciated.
Thanks also to Rob for his advice and support especially in relation to various taxation scenarios, EIS and SEISS, other options and opportunities and regulations. Much appreciated.
Judy Leung
14:10 15 Dec 21
I switched to RJF because I needed an accountant who could also offer advice and insight into startup finance and tax related queries, not just deal with the compliance side. I'm extremely pleased I made the move because Rob and his team have been fantastic, always responsive and helpful. It's clear Rob has a lot of experience and is passionate about startup finance and entrepreneurship. I've already referred another business owner to him and am happy to recommend RJF.
Danny Rodgerson
20:02 26 Nov 21
Rob and his team are professional, courteous and always friendly. Rob will make the time to reply to all my ramblings - whatever time of day! He's knows how to advise businesses on their accounting needs. I previously referred clients to Rob, but became one myself when I set up alone, and I can now see why they all raved about RJF.