Unlike most offshore companies that we offer, accounting, filing and bookkeeping obligations exist for UK limited companies and limited liability partnerships. To facilitate customers therefore, while ensuring that they comply with these rules and regulations, we offer reliable accounting and bookkeeping services to UK ltd. companies and UK LLPs through our accounting partners. Managing a business comes with a host of responsibilities, but entrusting the preparation of the financial statements and tax forms of your UK Company or LLP through our accounting partners can help ease the burden.

Our accounting and bookkeeping service includes:

UK Company/LLP Accounting Services Prices in USD Prices in GBP Prices in EUR
Notifying HM Revenue & Customs (HMRC) of commencement of business $150 £100 €130
Setting up PAYE with HMRC $150 £100 €130
Filling in and delivering application for VAT registration $225 £150 €200
Preparing annual returns for active UK Ltd. companies and LLPs $150 £100 €130
Preparing annual returns for dormant UK Ltd. companies and LLPs $115 £75 €100

Note: Indicative prices quoted by our accounting partners.

UK Company Joint Bookkeeping and Accounting Package

Clients may subscribe to our Joint Bookkeeping and Accounting Package, priced based on two classes of income.

Our joint bookkeeping and accounting package does not have to be taken immediately upon incorporation. Companies may sign up once they have begun to trade and conduct business.

This service includes:

  • Preparing a full set of accounts
  • Preparing abbreviated accounts to deliver to Companies House
  • Preparing corporation tax return
  • Preparing and filing annual return to Companies House
  • Preparing and filing Self Assessment return to HMRC
  • Final review of accounts to ensure that all expenses are listed
UK Company/LLP Accounting Services Prices in USD Prices in GBP Prices in EUR
UK companies with a turnover less than £150,000 $1,125 £750 €1000
For companies with a turnover from £150,000 to £300,000 $1,500 £1,000 €1,350

Note: Indicative prices quoted by our accounting partners.

Further quotations are available upon request Contact Us for further details.

UK Company Registration, Filing Information and Tax Regime

Once incorporated, every UK company must see to it that all relevant tax information is submitted and filing requirements are satisfied. The company’s secretary or the directors are usually the individuals responsible for these obligations.

All annual returns must be filed with the Companies House within 28 days following the date stipulated for filing returns (legal return date). The legal return date is determined according to the anniversary of:

  1. The date on which the UK company was officially registered (registration date), or
  2. The date determined as that of the last annual return by Companies House

Filing annual returns for UK companies forms part of our reliable Company Secretarial Services and can be included on your UK company incorporation order.

UK Company Nominee Secretary Services

It is important to note that appointing a secretary is optional, as no legal requirement exists. It is however advisable that a UK LLP or UK limited company hires a secretary due to filing obligations which in the absence of a secretary would be undertaken by the directors.

UK ltd. companies and limited liability partnerships often sign up for our nominee director/member service; but filing duties are not included in the nominee agreement. Filing services are obtainable from our UK company nominee secretary whose role is to ensure that the filing, annual reports and accounts of the UK company are taken care of. The Company Nominee Secretary also sees to it that:

  • the statutory register is in order
  • all records are delivered to the authorities if requested
  • Companies House is informed about any significant change in the company; ownership for example
  • all company accounts and returns are filed before the deadline

The aim of this service is primarily to facilitate our clients given the filing and accounting obligations of UK registered LLPs and limited companies. For further details regarding Prices for Accounting Services and our Corporate Nominee Secretary you can also Contact Us.

UK Tax Regime for UK Companies

Though not tax free entities, UK companies and UK limited liability partnerships deliver several benefits and tax savings especially when thoughtfully structured.

Corporation tax in the UK is one of the lowest in the EU, giving an advantageous edge to the UK LLP and UK Ltd. Company. It is also twofold, being broken down into a 20% tax rate for UK companies whose yearly profits do not reach £300,000 and 24% for UK company profits in excess of £1,300,000. There is marginal relief for companies whose profits fall between these two figures.

We are looking forward to even more positive UK company benefits in 2014 by which time UK corporation tax would have dropped by 2%, due to the 1% cut promised for April 2012 and again in 2013.

Clients are urged to enquire about our UK Company Accounting Services to avoid late filing penalties.

Personal Income Tax: UK Company and UK LLP

Every year a Self Assessment tax return has to be filed by the directors and partners of UK companies and LLPs regardless of whether these directors and partners live in the UK.

Income earned in any part of the United Kingdom is subject to UK tax.

For the 2013-2014 fiscal period the main income tax rate is expected to remain at the 20% basic rate, while the 40% higher rate and the additional rate will be cut from 50% to 45%. 2012-2013 personal income tax rates are:

  • 20% → £0-£34,370
  • 40% → £34,371-£150,000
  • 50% → over £150,000

Company Registration with HM Revenue & Customs (HMRC)

We encourage strict compliance with all UK Company filing obligations. Our accounting partners are ready and prepared to facilitate the smooth running of your UK Company. Registration for tax purposes includes:

  • Registering for VAT if the company’s turnover is more than £77,000 (2012)
  • Registering for PAYE
  • Informing HMRC of commencement of trade
  • Informing HMRC of the status of UK company as dormant or active

Dormant UK companies are usually taken to mean newly incorporated UK companies that have not yet begun to trade, shelf companies that are up for sale, UK companies incorporated solely to own assets, UK companies that have not been trading for some time, UK companies that have stopped trading and are due for deletion on the Companies Register.