As your limited company accountant, Archimedia Accounts will not only keep you compliant; we will actively seek to make your business more profitable.
Welcome to Archimedia Accounts, your limited company accountants
Archimedia Accounts is a family-owned firm of accountants based in Nottingham. We support many limited companies in the area to help manage their accounts more efficiently, save time and become more profitable.
Our dedicated team is made up of specialists in different areas of limited company accounting, such as bookkeeping, tax planning and management accountancy. Together, we will work to save your business money and grow your personal wealth.
Please get in touch by completing our contact form, and one of the team will respond ASAP.
What is a limited company accountant?
Limited companies have certain obligations which they must fulfil each year, including:
- Company secretarial work, a confirmation statement
- Filing accounts with Companies House and HMRC
- Corporation Tax returns and notes to HMRC
A limited company accountant will ensure all your compliance requirements (and legal responsibilities) to HMRC and Companies House are dealt with in an efficient and timely manner to avoid any penalties.
A limited company accountant can also work with you on tax planning strategies to ensure you save as much corporation tax as possible through claiming tax reliefs and business expenses. We can also provide guidance on how you can pay less personal tax to help you secure your family’s future.
Our limited company accountancy services
As your dedicated accountant, Archimedia can provide a comprehensive range of services to meet your accounting needs and help your limited company to thrive.
Bookkeeping
Limited company bookkeeping is a requirement by law and essential to successful business management. With the help of our professional bookkeepers, you can maintain a good understanding of your finances at all times and be fully prepared come year end.
Cloud accounting software
Archimedia Accounts is proud to be a certified Xero accountant, and we are experts when it comes to this game-changing cloud accounting software. It is accessible on any device and completely live, providing an accurate view of your finances at any given time.
Management accounts
Every limited company can benefit from regular management accounts to keep a track of income and expenditure, avoid financial pitfalls and guide important commercial decisions. Archimedia can provide monthly or quarterly insights based on the needs of your company.
Annual accounts preparation
We will ensure your statutory accounts are compliant with UK accounting standards (i.e. the laws that govern limited company accounts) and that all of the necessary attachments and reports are included before submitting them to the relevant governing body such as a Confirmation Statement.
Corporation Tax and personal tax services
Archimedia can provide expert financial advice when it comes to corporation tax and company director personal tax. We will help you with regular tax planning and identify tax reliefs and business expenses so that you do not pay too much or too little.
Payroll
Your company will be more successful with a contented, motivated team, so paying your employees on time is essential. Payroll is a detailed and time-consuming task, which is why many limited companies outsource their payroll function to an expert like Archimedia.
Why become a limited company?
For most small businesses, there are many advantages to registering as a limited company. Perhaps the most compelling reason is that it can be a more tax-efficient business structure. It also has more perceived prestige than self-employed status, which could open more doors.
For company directors, there are also significant benefits. There are personal tax savings to be made, with flexibility on how you pay yourself. Most importantly, a limited company structure means that you have limited liability status, meaning that you become a separate legal entity from the business. This is as opposed to a sole trader, who has personal responsibility for the company’s debts and legal issues.
If you require advice on the pros and cons of becoming a limited company, then Archimedia can help. We can also help to register your new company with Companies House. Contact us and we will be in touch.
Does a limited company need an accountant?
There is no legal obligation to hire a limited company accountant, and you could choose to manage your accounts in-house. However, due to the complexities involved, it may turn out to be a false economy. If you choose to go it alone, you are susceptible to penalties and may miss out on valuable tax savings.
A limited company accountant will keep you compliant with HMRC and Companies House and conduct thorough tax reviews to save the business as much money as possible. They will also ensure you draw money from your company in a way that saves as much personal tax as possible.
In our eyes, your accountant should save you at least twice as much in tax as we charge.
To find out more about our cost-effective services, please get in touch.
Get in touch with Archimedia Accounts today!
When it comes to limited company accounting services, you couldn’t ask for a more dedicated partner than Archimedia Accounts. Our family accountancy firm has a huge amount of combined experience and will provide you with all the support you need to be more profitable.
Whether you have a new business or a larger, more established business, find out how we can save you money as your dedicated accountant. Fill out our contact form or call us today for a free consultation, or take a look at our reviews.
FREE Accounting & Tax Review
FAQs
Can my accountant register my limited company with companies house?
We can guide you in setting up your limited company yourself or do it on your behalf. That way, we can help you to benefit from specific tax-saving opportunities during set-up.
How much tax do limited companies pay?
Limited companies pay 19% Corporation Tax if their profits are under £50k and 25% if their profits are over £50k after expenses and other tax reliefs (as of April 2023). As to the amount paid, it depends on your accountant! A good tax accountant will leave no stone unturned and save you as much tax as possible in compliance with UK tax law.
How many years of accounts does a limited company need to keep?
By law, you need to keep 7 years of bookkeeping and accounting records. A good accountant will keep these electronically for you.
Can my accountant do my company tax returns?
Absolutely. Limited company compliance is very complex and changes often, so it is very beneficial for a professional limited company accountant to do this on your behalf to avoid costly mistakes and to make the most of tax deductions.
Can my accountant close my limited company?
Yes, it is best your accountants close your limited company as it can get quite complicated, especially if there are other taxes to close down, such as payroll (PAYE and National Insurance) or VAT.
If you are applying for voluntary liquidation, your accountant will work with a liquidation specialist to ensure compliance under the law (e.g. your company and personal assets and liabilities).