Limited Company Tax Returns With Vangarde
When you establish a limited company, you'll need to submit annual accounts to Companies House and a company tax return to HMRC by specific deadlines. Your tax return can only cover a 12-month period, so if your company has been trading for longer than that, you may need to file two separate tax returns to cover the initial accounting period. This means you'll have two payment deadlines in the first year. In subsequent years, you'll typically only need to file a single tax return.
What are Limited Company Tax Returns ?
Limited Company Tax Return: A Guide to Compliance and Financial Reporting
A Limited Company Tax Return is a formal document that limited companies must submit to HMRC to report their financial activities for a specific accounting period.
It includes details of the company’s income, expenses, and profits, which are used to calculate Corporation Tax owed. Companies must file their returns within 12 months after their accounting period ends.
Along with the tax return, companies must submit annual accounts showing their financial position. The return may also claim tax reliefs and allowances to reduce tax liability. Failing to file on time can lead to penalties, making timely and accurate submissions crucial. This process is essential for compliance with tax laws and maintaining legal and financial standing.
What Documents Do I need?
Being a company director—or even just an employee—comes with a fair amount of paperwork. While you should definitely keep your P45, P60, and P11D forms, that’s just the beginning. There are other records you’ll need to keep, such as those related to taxed award schemes, redundancy payments, and various benefits. It’s also important to track any business-related expenses, as these could potentially reduce the tax you owe.
HMRC expects you to report all benefits you receive, whether it's Jobseeker’s Allowance, Sick Pay, or Statutory Maternity Pay. Additionally, any income or benefits from things like employee share schemes should be recorded. These details give HMRC a complete picture of your financial situation, which is essential for ensuring you’re meeting your tax obligations.
Why Choose
Filing your tax return with us ensures you receive the support and accuracy you deserve. Our dedicated team is here to guide you through the process, making it as straightforward and efficient as possible. We prioritise your needs and work tirelessly to secure the best results for you. Don’t tackle your tax return alone—let us help you maximise your refund and ensure you’re paying the right amount!
Expertise and Experience
Our team has a wealth of knowledge and years of experience in the industry
Transparency and Integrity
We take an honest approach when working with you to submit Your tax returns to ensure we are on the same page.
Comprehensive Support
We provide ongoing support and assistance every step of the way, ensuring you never feel alone in the process.
Streamlined Experience
We have created the smoothest journey
Over 20 Years Experience
Our team has over 20 years combined experience
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