Limited Company

A limited company is a form of business which is legally separate from its owners (shareholders). A private limited company is usually owned by shares. 

All limited companies must be incorporated at Companies and given a unique company registration number. It must have either Ltd. or Limited at the end of its company name.

This gives the company a separate ‘legal personality’ from the people who run it and therefore offers limited liability. 

We assist with the formation of limited companies, guiding you through the process of registration, articles of association, and legal compliance. 

As a result of being a limited company, a company is liable to corporation tax on its tax adjusted profits. The amount of tax payable is dependent on the level of profit. 

The return must be filed on time and the correct amount of corporation tax must also be paid on time (please note these dates will be different) to ensure no fines or penalties are applied. 

Along with taxes, a limited company must also prepare a set of financial statements which must be filed on companies house along with any changes in capital in the year. 

Appropriate accounting records must be kept and accounts should be prepared either under UK GAAP (FRS 102) or IFRS. 

Please see section 'Accounting' for more information or get in touch today because at CK Accounting & Tax, we're committed to helping your limited company thrive. Contact us today to explore how our services can enhance your financial efficiency, compliance, and overall success. Let us be your trusted partner in managing your limited company's financial matters.