Easy Company Accounts for Limited Companies

There are a number of reasons why you might choose to contract through a limited company, the tax benefits being just one major advantage – limited companies are more tax efficient and should give you a better return on your income. However, if limited company accounts are not managed properly or kept up-to-date, you could end up facing financial problems when tax return time rolls around. It is important to make sure you keep accurate accounts from the beginning, and then if there are any problems, they will be easier to sort out. Keeping limited company accounts records are also a legal requirement and annual accounts must be filed with Companies House each year. Late filing will also bring about penalties for your company, costing you further time and money.

Another benefit is the control that you have over when and how you get paid, which again has tax benefits. Having your own limited company means you can pay yourself when you want and as much as you want (providing the company can afford it of course!). You can also claim business expenses, which lower your company profit and so thus lower the amount of tax you end up having to pay.

EasyLimited provide online accounting services for professional contractors and limited companies in the UK. While accounting software is readily available on the Internet, it is written for accountants to use, which isn’t much help to the average business director! Easy Limited’s accounting services include software which is easy for contractors to understand and use. Everything is broken down step-by-step and there are video tutorials and a dedicated support team to contact should there be any difficulties. Taking away the complications of company accounts means that you can get on with running your business and making more money!

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