Limited Companies
Unsure about your accounting and tax requirements as a limited company? Speak to one of our experienced accountants today.
Get StartedWhat is a limited company?
A limited company is a type of business that is a separate legal entity from those who own and run it. This means all liabilities are the responsibility of the business – not the directors or shareholders. The defining characteristic of this popular business structure is limited liability, which protects owners from any debts or obligations the business may have and doesn’t put their personal assets at risk.
As your limited company accountant, we can help with all your accounting needs, and be a reliable, long-term financial partner. Our team will support you throughout your limited company’s lifetime and adapt to you, always making sure your accounting and tax requirements are met, efficiently and accurately.
How can our accounting services help you?
Jan McDermott Chartered Accountants have many years’ experience as accountants for limited companies and specialise in various areas of accounting that can be beneficial to you. We understand the pressure and demands of running business without all the accounting and tax requirements are thrown into the mix.
Staying on top of bookkeeping, meeting tax deadlines, checking your tax submissions is accurate, and making the most of your tax allowances are just some of the ways Jan and her team can help you. See some of our specific services as an online accountant for limited companies below.
Video games tax relief (VGTR)
If your limited company works in the video game development industry, you could claim back a percentage of your production costs in the form of a tax rebate with a government funded relief incentive that was introduced for creatives.
VAT
If the taxable turnover of your limited company is over £85,000 you need to get your business VAT registered. It can even be beneficial to become a VAT registered business if your turnover is below £85,000 to possibly recover VAT on your costs. Our team of professional accountants for a limited company can help you with any and all aspects of VAT.
Corporation tax
Corporation tax is the main type of tax that all registered companies in the UK are required to pay. It has to be paid within nine months of the accounting period and your tax return needs to be filled out accurately. It is extremely important that limited companies understand their requirements for corporation tax.
Payroll
Your payroll is a full list of your employees and how much they should be paid. It is also used to describe wages and record how much an employee has made over time. Organised payroll management is extremely important to businesses as it ensures employees are consistently paid and taxed correctly. This can become complex in limited companies as they add more staff, which is why using an experienced and knowledgeable accountant is important.
R&D tax relief
We can help you claim research and development tax relief credits for your limited company if you meet the eligibility criteria. R&D is very broad and can be carried out in any industry, meaning any business could potentially qualify for the relief in the form of a corporation tax deduction or cash payment from HMRC.
How We Can Help
Unlimited professional advice
Your dedicated limited company accountant from our team will be on hand to answer questions and offer advice to support your business operations and development.
The personal touch
When you’re one of our clients we will get to know your business in detail to understand your challenges and help you overcome them with a warm and friendly approach.
Real-time data anytime you need it
Our financial capabilities mean you can have access to real-time financial data and key figures so you can confidently take your limited company to the next level.
Alan Robson
They provide us with a fully outsourced finance function so that our own team can focus on our business. They implemented Xero software from day one of the company meaning that we have real-time visibility of our business at all times, The monthly management accounts meetings we have with Jan really add value to decision-making and strategic planning and we wouldn’t be without them.
Peter Broxton
Their professionalism, expertise and client care are outstanding and they have supported our growing business no end. They look after everything from our bookkeeping, VAT, annual accounts, as well as claiming Research & Development tax relief, preparing budgets and forecasts and assisting with grant claims. The whole team are always responsive, friendly and reliable and we wouldn’t hesitate to recommend them to anyone looking for a trustworthy and efficient firm to look after their business finance requirements.
Scott Hackett
I moved my accounts over to Jan at the beginning of the year and have been extremely impressed with her attention to detail and precision. She’s made it easy for me to understand and manage all the key aspects of my accountancy, as well as offering useful suggestions of ways to improve and make things work more efficiently for me and my business. I’d highly recommend Jan and her team to anyone looking for professional, friendly, and reliable accountants that truly get to know you and offer a tailored service.”
Alistair Evans
Jan McDermott & Co have been our accountants for over 15 years and have not only ensured our accounting records are accurate and legal, but also provided us with first class advice to help us grow. They recommended our move to Xero accounting software which has revolutionised our business, allowing us to create predictable income through the use of Go Cardless Direct Debits, and streamlining our day to day accounting operations. Jan and her team are friendly, easy to work with and take time to understand a particular problem or situation. I wouldn’t hesitate to recommend them to any business that wants an accountancy firm they can grow with and depend on.