Ainsworth & Co, Chartered Accountants and Business Advisors.

Our Guide to Forming and Running a Limited Company

Limited Company Accounts and Tax Service


We have a full Annual Accounts and Corporation Tax preparation and submission service.

Limited Company Formation


We are able to form a Limited Company for you, please visit our Limited Company Formation webpage. We are based in Preston, Lancashire, and offer our services for companies registered in England and Wales.


What is a Limited Company ?


A Limited Company is a "separate person" in law. So it is not the same as being a Sole Trader under Self Assessment.


Limited Company Taxes


A Limited Company pays Corporation Tax, not Income Tax.

As a Director of the company, and in order to pay yourself, you will almost certainly need a PAYE Scheme with HMRC, where you might pay Income Tax yourself, and we can set this up for you.

Your personal taxes may have Salary and Dividends, from the company, so you will usually need to register for Self Assessment, and we can do this for you.


Limited Company Accounts


A Limited Company must file its Annual Accounts with Companies House - which means that the Accounts become a public document - anyone can get a copy. If the company is a specially defined "small company", then only Micro-Entity Accounts are filed which contain much reduced information.

A Limited Company must also file full Statutory Annual Accounts and Corporation Tax Computations with HMRC.

It is called "Limited" because the liability of the company owners - the Shareholders - will only be the paid up value of their shares if the company gets in financial difficulties. There are exceptions to this if the Directors have acted illegally or have been negligent or have traded whilst insolvent, then the Directors may be liable for the debts of the company.

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More Information About
Limited Companies


Companies House


Companies House is the home and registration place for all companies in England and Wales.
Companies House Link


GOV.UK


The UK Government is building a substantial website of information for businesses:
GOV.UK Link


Our Webpages:


Limited Company Formation

Setting Up A Limited Company

Shareholders' Guide

Directors' Guide

Director's Loan Account

Annual Accounts

Getting Paid from your Company

Limited Company Bookkeeping

Dividends

Limited Company Taxes

Confirmation Statement

Dormant Companies

Stationery