Salary and dividend mix
Most owner-managed companies take a modest salary through PAYE alongside dividends from post-tax profit. The efficient balance depends on personal allowances, other income and the company's profit level.
Limited companies
Accounts and corporation tax for limited companies
A limited company carries separate legal and reporting duties. We prepare the statutory records, meet the filing dates and explain the tax position behind the numbers.
What is included
- Statutory accounts prepared under FRS 105 or FRS 102 Section 1A
- CT600 corporation tax return and computations
- Confirmation statement and registered office filings
- Director payroll, RTI submissions and P60s
- Dividend vouchers and board minute templates
- Directors' loan account tracking and s455 considerations
- VAT returns and scheme reviews
- Company formation and share structure guidance
Your filing obligations
Annual accounts
Filed with Companies House within 9 months of the accounting reference date.
Corporation tax
CT600 filed within 12 months of year end; tax payable 9 months and 1 day after it.
Confirmation statement
Confirms directors, shareholders and registered details at least once every 12 months.
Points that commonly come up
Expenses through the company
Costs must be incurred wholly and exclusively for the trade. Mixed-use items such as vehicles, home office costs and mobile contracts need apportionment and, in some cases, benefit-in-kind reporting.
Directors' loan accounts
Money drawn beyond salary, dividends and expense reimbursement creates a loan. Balances outstanding more than nine months after year end attract an additional corporation tax charge until repaid.