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UK Incorporation

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Accounts Preparation and Tax Computation

Every UK limited liability business is required to file accounts in Statutory Format with Companies House and HM Revenue and Customs. We are professionals in the production of statutory accounts for all types of business.

The highly experienced staff at Capitalite Limited fully understands the presentation and disclosure requirements of the Companies Act and accounting standards. We offer a quick and efficient service to produce year end statutory accounts for limited companies.

This includes:

Dormant accounts

A dormant company in the UK is defined as a company that has never had any accounting transactions since incorporation

There is no time limit on a company remaining dormant however; the company must still comply with the statutory reporting requirements required of a normal active company. The fact that the company is not trading does not dilute the directors’ responsibilities for running the company.

If documents are not submitted to Companies House and HMRC by the due date, then Companies House and HMRC will issue penalty notices

Non Trading accounts.

A dormant company should not be confused with a non-trading company. A company that is non-trading (i.e. not carrying out any business) may nevertheless be involved in other day to day financial transactions. For example, costs such as rent, wages, bank charges or legal fees must be reflected in the company’s accounting records and if this is the case, then even if non-trading, the company will not be considered a dormant company. Remember that a company will only be considered dormant by Companies House if it has never had any accounting transactions during its existence.

Trading accounts.

As the name suggest, trading accounts means that the company has traded during the financial year.

The company must still comply with the statutory reporting requirements required of a normal active company. They need to submit their financial statements and Corporation Tax returns to Companies House and HMRC.

If documents are not submitted to Companies House and HMRC by the due date, then Companies House and HMRC will issue penalty notices.

Statutory accounts are probably the vital part of a business, let us take care of it to improve your company’s potential.

All Limited Companies also have a requirement to file Corporation Tax returns (CT600s) to HMRC. This return will summarize the figures shown in the financial accounts being filed to Companies House.

Accounts are prepared to agreed timeframe and deadlines. Also, we will identify areas of the business that give you the most opportunity to make improvements. We also provide periodic management accounts to allow our clients to assess their business on a more real time basis.