Requirement for Ltd Company

  • Thread starter Dirk Bruere at NeoPax
  • Start date

D

Dirk Bruere at NeoPax

I am thinking of setting up a small ltd company, with initially very low
annual turnover. Do the accounts have to be audited by a chartered
accountant or can I do them myself?


Dirk

http://www.neopax.com/technomage/ - My new book - Magick and Technology
 
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R

Ronald Raygun

Dirk said:
I am thinking of setting up a small ltd company, with initially very low
annual turnover. Do the accounts have to be audited by a chartered
accountant or can I do them myself?
Small companies do not need to have their accounts audited.
To qualify, the company must meet the technical definition of "small".
 
D

Dirk Bruere at NeoPax

Small companies do not need to have their accounts audited.
To qualify, the company must meet the technical definition of "small".
Turnover?
 
A

AnthonyL

I am thinking of setting up a small ltd company, with initially very low
annual turnover. Do the accounts have to be audited by a chartered
accountant or can I do them myself?
Further to the responses you already have I will add that providing
you qualify, which appears likely, the on-line filing procedure makes
it very straightforward to submit the accounts yourself if you have
your accounts in a good format.

Similarly the HMRC Employer CD ROM takes the hassle out of payroll for
free if there are only a couple of employees.
 
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jpointon

Further to the responses you already have I will add that providing
you qualify, which appears likely, the on-line filing procedure makes
it very straightforward to submit the accounts yourself if you have
your accounts in a good format.

Similarly the HMRC Employer CD ROM takes the hassle out of payroll for
free if there are only a couple of employees.
Yes but don't forget that from April Companies House and HMRC will
require the filing of annual accounts and corporation tax returns in
ixbrl format which can be quite tricky.
 
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Limited Company accounts do not have to complete by a chartered accountant. However, diy Ltd Compnay accounts is never a good idea. It can be quite comples even for a small company. Deanco.co.uk
 
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I would advise you to consult an accountant. A good one should save you more in tax to more than justify their fee.
 

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