Fortress Accounts are accountants in Coventry that aims to make your bookkeeping and accounting life easy. For more information on the accounting and bookkeeping services we offer, call us on 024-7698-0431 or email us at firstname.lastname@example.org.
Limited Company Accountants For A Wide Range Of Businesses
There are many limited company accountants in Coventry which you can trust, one of them is Fortress Accounts, we provide a cost-effective service for businesses and individuals and offer tax advice for your self-assessment and more.
Do you need a firm of accountants for a limited company?
There are no legal requirements for limited companies to have accountants but there are reasons why they need to have one. Accountants will complete your annual accounts and company return and also handle all your tax registration if you’re a new company.
Hiring a professional accountant to handle your company accounts, tax planning and self-assessment tax returns will make things easier for you, you’ll as well have more hours to do other important things in your organization. If your business is just starting up, the accountant will handle all the tax registration processes and also register with Companies House if you wish to, giving you time to focus on other areas that could help grow your business.
The fortress is a company in Coventry that will make all your accounting and bookkeeping needs a priority. To speak with our team of professionals, reach us on 024 7698 0431 or email us at email@example.com.
At Fortress we also advise you on your new tax liability and liaise with the fine folk at HMRC to register you for VAT, Corporation Tax, and payroll if you’re an employee.
Bookkeeping is time consuming and a daunting task, but a very important thing to do for limited companies, because you do not want to start to look for all your paperwork at the last minute when HMRC comes knocking at your door. Hire a professional today to handle all your bookkeeping and accounting needs.
Does Ltd company pay tax in the first year?
When you start your Ltd company you automatically get varying reporting dates for the first annual accounts you send to Companies House and for the first company tax return, you send to HMRC. Your first accounts will cover more than 12 months because they start on the day your company was established and end on the accounting reference date set by Companies House for the end of your company’s financial year.
Tax Return for Limited Company
When your company’s financial year ends, your Ltd company must prepare complete annual accounts and company tax returns. This is because your accounts and tax return have to meet deadlines for filing with Companies House and HMRC.
What are the tax benefits of a limited company?
Limited companies are said to have a very tax-efficient business structure. Here are some of the tax benefits of a limited company:
You pay less tax on profit
You’re able to reduce your income tax and national insurance contributions
You can hold onto surplus cash
Pensions are tax-deductible
What taxes do limited companies pay?
Limited companies pay corporation tax (subtracting any benefits they can claim), in the UK the rate is currently 19%, which can be reduced to 17% soon. When you are an employee you are also supposed to pay personal tax and NICs through the company’s PAYE, also, your limited company is supposed to pay employers NICs at 13.8% on employees who earn more than 169 pounds.
Can I do my own limited company tax return?
Yes. You can definitely do your own accounting for your limited company, which includes preparing and filing your annual accounts. However, hiring professionals to do the work is more effective and efficient, doing everything on your own is difficult and time-consuming and you are bound to make mistakes since it’s not your profession. There are severe penalties for making any small mistakes, therefore hiring a professional is the best thing to do. Moreover, hiring a professional to do all your accounting work lets you have time to do other important things that could help your company expand.
Fortress accounts in Coventry can handle all your accounting needs at an affordable price call us today and we will be happy to help as soon as possible.
How to Get an Accountant that will deliver timely individual advice?
Are you based in Coventry, West Midlands? Fortress Accounts is one of the best accountants in Coventry that you can get to handle all your accounting and bookkeeping needs and offer an effective high-value solution to meet your needs. At Fortress we have worked with a wide range of businesses and deal with all aspects of your limited company including dealing with your general correspondence from HMRC, meaning you won’t have to deal with them.
At Fortress Accounts we offer free access to our online accounting software package giving you the ability to raise your sales invoices from your mobile device, sending them straight to your customers. Also, each month you’ll be furnished with a set of management accounts and an email telling you which payments need to be made that month yourself for salary and expenses and to HMRC for any liabilities due. For more information on the services we offer for limited companies, give us a call on 024 7698 0431.
How do I find accountants in Coventry for my small business?
The best way of finding an accountant for your small business is by getting a referral from friends and family, ask them if they know of any local good accountant that could handle your accounting needs properly. However, if you’re thinking of getting a highly qualified professional, Fortress Accounts in Coventry is one of the best companies to consider, we deliver timely individual advice that can help you business grow.
Do I file taxes if my business made no money?
Regardless of whether you had expenses or not, it’s a must to file the corporation income tax return.
How do I calculate small business taxes owed?
Start by estimating your taxable income this year then calculate how much you’ll owe in income and self-employment taxes, then divide your estimated total tax into quarterly payments.
What qualifies as a small business?
In the UK, a small business is one that has a turnover of not more than 6.5 million pounds, a balance sheet of not more than 3.26 million pounds, and not more than 50 employees.