Limited companies

As the director of your own limited company, you are responsible for far more than just doing the work. There are accounts to file, a corporation tax return to prepare, a payroll to run, Companies House deadlines to meet, and a hundred other things demanding your attention - on top of actually running the business.

At Facts & Figures, we work with limited company directors across Edinburgh, Glasgow, and Scotland - taking the financial and compliance side of running your company off your plate, and making sure you are getting the most from the structure you have chosen. Whether you incorporated last month or have been trading for years, we will build a service around your specific situation and grow with you as your business develops.

Running a limited company comes with a specific set of legal obligations that have to be met every year, without exception. We manage all of these on your behalf:

• Statutory accounts - prepared in line with UK accounting standards and filed with Companies House on time every year

• Corporation tax return (CT600) - prepared alongside your accounts and filed with HMRC, with your tax liability confirmed well in advance of the payment deadline

• Companies House confirmation statement - filed annually to keep your company's public record up to date

• Director's self assessment - your personal tax return prepared and filed, covering your salary, dividends, and any other income

• Payroll and RTI - your director's payroll run correctly and submitted to HMRC on or before every payday

• VAT - returns prepared and submitted, with MTD compliance and advice on the most appropriate VAT scheme for your business

• P11Ds and benefits in kind - reported correctly and on time if you take benefits outside of salary

Most owner-directors take a combination of salary and dividends, which is more tax-efficient than salary alone because dividends are taxed at lower rates and are not subject to National Insurance. The optimal split depends on your personal circumstances, your other income, and the level of profit in your company - and it changes as tax rates and allowances change. We review this with our limited company clients regularly rather than leaving it on autopilot.

Beyond salary and dividends, the areas we most commonly help company directors with include:

• Pension contributions - employer contributions reduce your corporation tax bill and are usually the most efficient way to build wealth through your company

• Capital allowances - making sure the company is claiming the right relief on equipment, vehicles, and other assets

• Business Asset Disposal Relief - planning ahead for an eventual exit to make sure you qualify for the reduced CGT rate when the time comes

• Director loan accounts - managing withdrawals and repayments correctly to avoid unexpected tax charges

• Management accounts - staying in control between year ends

For limited company directors who want more than a once-a-year financial summary, we prepare management accounts on a monthly or quarterly basis. These give you a real-time picture of how your company is performing - profit and loss, cash position, key metrics - so you can make confident decisions about hiring, investment, and growth without waiting until year end to find out how things went.

Management accounts are also increasingly expected by banks and lenders as part of any facility review or funding application. Having them prepared regularly means you are always ready for that conversation.

Fixed fees - agreed in advance

All of our limited company services are offered on transparent, fixed-fee pricing. You will know exactly what you are paying before we start, the ongoing support of our team is built into that fee, and there are no unexpected invoices when you pick up the phone with a question. For company directors who are used to managing costs carefully, that predictability matters.

Thinking about incorporating?

If you are currently operating as a sole trader and considering whether to incorporate, we can help you work out whether it makes financial sense for your situation - and if it does, manage the whole process from Companies House registration through to getting your new company set up with the right systems and structure from day one.

Thinking of switching accountant?

If you feel like your current accountant handles your compliance but not much else, or you are not confident your tax position is being managed as efficiently as it should be, switching is simpler than most people expect. Find out how moving to Facts & Figures works.