Corporation Services
When dealing with a corporation, the yearly tax requirements can be much more complex than they are for a sole trader. Limited companies are an entirely different type of legal entity to an individual, and so the rules around them can be vastly different.
An individual may only need to submit a self-assessment tax return, but each year, full annual accounts must be submitted along with a company tax return. Corporation tax must be paid, and VAT must also be taken care of if the business is registered for it. Excise duty may need to be accounted for if you deal with imports or exports, and PAYE and National Insurance will also need to be considered when your business has employees. And don’t forget capital allowances!
Both Companies House and HMRC require parts of this information, and for the layman, establishing what figures need supplying to which organisation can become confusing. Worse still is determining how much tax you may need to pay, and who to pay it to.
We offer a friendly and professional accounting service for businesses in and around Darlington, helping you to ensure all your paperwork is filled in and your obligations are met, while you get on with the important job of running your business. In fact, there may be limited paperwork involved, as we use the latest accounting software and can submit returns to HMRC electronically. This makes it much easier to track the progress of your submissions and guarantees that your information will be lodged much faster than posting a form to HMRC.
We can provide bookkeeping and payroll services if you are struggling to keep on top of them, and we’re happy to offer business advice to help you manage and grow your existing business and take it to the next level.
We are happy to work with you no matter what business sector you are in, and no matter how large or small your business is. All corporations are subject to the same rules, but we’re happy to tailor our services to match the needs of your business perfectly.
If you have any queries or concerns regarding taxation or accounts, we’ll be glad to help you resolve your problems. Get in touch with us today, call us on 01325 355 145. To find out what we can do for you, your business, and your accounting systems.
