Limited companies

There is one main rate of corporation tax of 19%. Corporation tax rate is to reduce to 17% from 1 April 2020.

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The tax system for companies

How the tax system works for companies.

Should you form a limited company?

We are often asked, 'Should I form a limited company?' The reality is that there is no easy answer. Each situation has to be judged individually. Our guide provides an overview of some of the key issues relating to a business trading as a limited company.

Buying a company 'off the shelf'

If time is an important factor, you can consider buying a ready-made company. The procedure will depend on the company formation agents', including online agents, requirements.

Tax and the company car

Details of how the tax system charges tax on a company car.

Company bonus or dividend?

In many small companies, the owners are also the directors, and this gives importance to how income is extracted from the company.

Entrepreneurs' relief

The relief gives rise to an effective capital gains tax rate of 10% on capital gains of up to £10 million.

Tax saving strategies

Expenditure incurred before the company year-end might reduce the current year's tax liability instead of next year's.

Benefits in kind and expenses payments

Benefits in kind are assessed on all directors and employees and now be 'payrolled'.

Corporation tax

Details of corporation tax rates and bands.

Penalties for late returns

The tax system is replete with fines and penalties for those that do not file or pay on time. Make sure you do not become liable to any of these penalties.

Main capital allowances

A summary of the main allowances available. The 100% annual investment allowance on plant and equipment is £200,000.

Interest and tax payments

HMRC charge interest on underpayments of tax, and pays interest (repayment supplement) on overpayments.

Companies Act

The Companies Act comprises approximately 1,300 sections.

Companies House - forms you need to know about

There are over 100 company-related forms prescribed. We list below these and include a link to all the forms which can be downloaded direct from Companies House.

The law and directors' responsibilities

Who is a director? What are their legal responsibilities?

Statutory records

It is essential that you keep your company's statutory records up-to-date. Do not underestimate the importance of these records - they are definitive proof of the company's legal existence and its members.

The company secretary

The position of company secretary in a private company is now optional. Thus a company can operate with a sole director.

Essential record keeping

Ideas on how you can reduce the time we take to prepare your year-end accounts.

Getting the company struck off

A private company (not subject to insolvency proceedings) can apply to the Registrar of Companies to be struck off the register and dissolved.