WHO WE HELP
Small Businesses • Limited Companies • Contractors • Sole Traders • Dentists, Medical & Healthcare Professionals
Limited Companies
At Samir & Co, we specialize in providing accounting services tailored for businesses in the process of setting up or already operating as a Limited Company.
What is a Limited Company?
A limited company, often abbreviated as Ltd., is a type of business structure that is a separate legal entity from its owners (shareholders). This means that the company's finances, assets, and liabilities are distinct from those of its owners. In a limited company:
1. Limited Liability: Shareholders' liability is limited to the amount they have invested in the company. This means that their personal assets are protected in case the company faces financial difficulties or legal issues.
2. Ownership: A limited company is owned by shareholders who own shares in the company. Shareholders appoint directors to manage the company's operations and make strategic decisions.
3. Legal Entity: A limited company is considered a separate legal entity, which means it can enter into contracts, own property, sue or be sued, and engage in business activities in its own right.
4. Financial Reporting: Limited companies are required to prepare annual financial statements and file them with the relevant authorities, such as Companies House in the UK. These financial reports provide transparency about the company's financial performance and position.
5. Taxation: Limited companies are subject to corporation tax on their profits. This is separate from the personal income tax paid by the company's directors and employees.
Overall, a limited company offers advantages such as limited liability, credibility, and potential tax benefits, making it a popular choice for small and large businesses alike. At Samir & Co, we specialize in setting up Limited Companies to safeguard your personal assets and establish a solid foundation for your business. We offer comprehensive support and guidance throughout the entire process, handling tasks such as submitting annual accounts, tax returns, preparing necessary documentation, and navigating relevant legislation. With our expertise, we ensure that your Limited Company is established efficiently and compliantly, allowing you to focus on growing your business with peace of mind.
The benefits of being a Limited Company
The benefits of operating as a limited company include:
1. Limited Liability: Shareholders' liability is limited to the amount invested in the company. Personal assets are protected from business debts and liabilities, reducing the risk for business owners.
2. Professional Image: Operating as a limited company can enhance credibility and professionalism, which may be advantageous when dealing with clients, suppliers, and investors.
3. Tax Efficiency: Limited companies often enjoy tax advantages, such as lower tax rates on profits and opportunities for tax planning, including claiming allowable expenses and deductions.
4. Separate Legal Entity: A limited company is a distinct legal entity from its owners, allowing for greater flexibility in ownership structure, transfer of shares, and succession planning.
5. Access to Finance: Limited companies may find it easier to raise capital through investment from shareholders or by obtaining loans and credit from financial institutions.
6. Business Continuity: The death or departure of a shareholder does not necessarily affect the continuity of the company, as ownership can be transferred through share transactions.
7. Employee Benefits: Limited companies can offer additional benefits to employees, such as share ownership schemes, pension plans, and tax-efficient remuneration packages.
8. Brand Protection: Registering your business as a limited company can protect your brand name and prevent others from using it, providing legal recourse in case of trademark infringement.
Overall, operating as a limited company offers various advantages in terms of liability protection, tax efficiency, financial flexibility, and professional reputation, making it an attractive option for many businesses. However, it's essential to consider individual circumstances and seek professional advice to determine whether this business structure is suitable for your specific needs.
We can help your Limited Company succeed by offering the following services:
• Companies House and HMRC administration – setup and competition of abbreviated accounts
• Submission of corporate tax return to HMRC
• Director self-assessment returns
• Tax advice • Invoicing/ledger management
• Payroll services
• VAT returns
• Construction Industry returns (CIS)
• Automatic reminders of important deadlines
• Monthly accounting packages for Limited Companies