Are you exempt from Making Tax Digital for Income Tax? HMRC clears up the confusion
April 2026
Read MoreRunning a limited company in the UK can be extremely rewarding and offer clear tax advantages.
However, it also brings additional responsibilities and legal obligations that directors must carefully manage.
That is why many business owners choose to work with experienced accountants for support on setting up and running a limited company.
Whether you are newly incorporated or reviewing your current setup, our guide to running a limited company will help break down your obligations so nothing is missed.
Our guide clearly explains:
How can we help you?
Running a limited company brings many responsibilities in managing payroll, VAT, Corporation Tax, personal tax, reporting and statutory filings. Our role as accountants is to bring all of these areas together so that your company’s finances are compliant.
We help businesses:
Do you need further advice?
If you need further advice or support setting up or running your limited company, our expert accountants are here to help.
One of the main benefits of a limited company is that it keeps your business separate from your personal finances. You will become a separate legal entity, which means liability usually stays with the company instead of you.
Limited companies can also be tax efficient and present a more professional image to clients and suppliers.
Almost anyone can set up a limited company in the UK. At a minimum, you need one shareholder and at least one director, who can be the same person.
You must be over 16 years old and be able to provide a company name, a registered office address, any details of directors and secretaries and information about shareholders and shareholdings to Companies House.
While it is not legally required, having a separate business bank account is often a good choice. It can help keep your finances separate and simplify your bookkeeping by keeping everything all in one place.
If you can see that your taxable turnover is going to cross £90,000 in a 12-month period, you must register 30 days before this happens. If it happens unexpectedly, you will have to register within 30 days of the end of the month when it happened.
You might want to consider voluntary registration but double-check with a professional that it will benefit your business first.
If you would like guidance on setting up and running a limited company, download our guide or contact our expert accountants for more information.
Jim Botton – Pleasure Beach (Skegness)