Discover the benefits
To find out what the Limited Company Option can offer you and how it stacks up financially against an Umbrella Solution. You'll be surprised at what can be done.
Every Business Is Different.
That's Why Our Services Are Built Around Yours
How would you describe running your own business? Exhilarating? Daunting? Confusing? Tiring? Inspiring? However you describe it, we’re here to make it rewarding!
No matter how unique your business, or how specific your requirements, we’re pleased to say, with our collective experience, there’s very little we haven’t already encountered. Whether you’re engaging with your customers as a sole trader, through your limited company or partnership, we’ll help you ensure that you're set up and working correctly, effectively and efficiently.
We have a broad suite of services available so you can pick and choose just the options that you need, when you need them. Whether you’re a seasoned veteran incorporated for decades or the next entrepreneur to become a household name, we know how to help.
As recognised Xero Silver Accounting specialists we can consolidate, manage and submit all of your company information in line with accepted industry standards ensuring that you have visibility of your accounts in an intelligent and easy to understand format. Impressive as our software is however, it’s our people skills we’re proudest of.
For one to one professional, friendly support, were on the other end of the phone. Why not introduce yourself today and let’s start exploring how we can help your business grow.
- Dedicated Account Manager
- VAT Returns
- End Of Year Returns
- Online Portal
- Bank Reconciliation
- Task management
Service Details
Kimson will help you start your journey with your Ltd Company as well as ensure you're on top of all of your statutory obligations regarding TAX and VAT. It's your company, so you are in control.
IR35 Status:
Outside Roles
Payment To:
Ltd Company
Tax Status:
All Taxes Paid by You
We Take Care Of Your Returns
Accounts Filing
- Under normal circumstances, your accounts are due to be filed with HMRC within 12 months and with Companies House within 9 months of your period or year-end.
- We meticulously prepare for this process, including managing deadlines.
- Before filing, we’ll discuss your accounts with you and obtain your authorization.
Tax Payments
- Our team strives to provide you with ample notice regarding tax payments.
- As long as you promptly provide the necessary information, your tax payments can be made in full and on time.
Annual Tax Return
- Yes, we’ve got you covered! The annual tax return is due by 31st January each year.
- We’ll guide you through the requirements, complete your return, and file it after your authorisation.
- Our goal is to ensure you meet the deadline and avoid unnecessary penalties.
Frequently Asked Questions
Find the answers to the questions you have regarding the Limited Company Accounting Service. Other FAQ's.
Q. If I’m setting up a new company, can I choose the name?
Indeed, you have the liberty to choose any company name you prefer (provided it’s appropriate) and it’s not already taken on the Companies House register. The Kimson team is well-versed in assisting contractors in selecting an ideal name for their Limited Company. Don’t hesitate to reach out for our guidance if needed. After you’ve settled on a name, we’ll proceed to establish your Company under that name and handle its registration with Companies House.
Q. What’s required to set up a company?
We can have you ready to trade within 72 hours in most cases.
To adhere to Anti Money Laundering Regulations, you’re required to submit personal information such as your address, date of birth, National Insurance number, and more. Additionally, we’ll need your business or mailing address, an authenticated copy of your passport or driver’s licence, and a document verifying your address.
Yes, we do. Your company will be registered for PAYE and VAT where applicable and we can deal with HMRC on your behalf as your agent.
Q. Will I be VAT registered?
There’s no obligation for your business to register for VAT until your turnover surpasses £85,000. However, you have the option to register for VAT voluntarily even if your turnover is less than this threshold. Often, it’s advantageous to be VAT registered. We can explore the best options for your situation when you join us. Don’t worry, we’ll handle the entire VAT registration process on your behalf.
We process your VAT returns every quarter and share a copy with you for your confirmation prior to submitting it electronically. It’s your responsibility to ensure the payment is made from your company’s bank account. To streamline the process, Kimson can arrange a direct debit for you, alleviating the concern of manual payments.
Q. How do I pay myself from my Limited Company?
Alongside reimbursing your business-related expenses, you’ll receive a customised salary that aligns with your individual financial requirements. Additionally, based on your income level and personal needs, you’ll be entitled to dividends, which are distributions of a company’s earnings to its shareholders. These dividends, known for their tax efficiency due to lower income tax rates and exemption from National Insurance, can be transferred from your Company account to your personal account as distinct transactions. Upon registering with us, we’ll arrange a payment schedule that suits you.
Dividends are payments made from a company’s profits or reserves to its shareholders and are a tax-effective method to withdraw money from a Limited Company.
Our services include providing you with management accounts for your Limited Company, detailing the profits and the available amount for dividend distribution. You’ll inform your account manager of the desired dividend amount, and upon agreement, it will be deposited into your personal account. Kimson will also guide you on any personal tax obligations related to these dividend payments.
Q. Will I need insurance?
When it comes to safeguarding yourself and your Limited Company, acquiring the right level of insurance coverage is crucial. As a director of your own Limited Company, it’s essential to meticulously review all contractual obligations and ensure you have adequate protection in place. Here are the key types of insurance you should consider:
Public Liability Insurance: This cover shields your business against claims related to property damage or injuries caused by your company. For instance, if someone is injured on your premises or due to your products, public liability insurance provides essential protection.
Employers’ Liability Insurance: If you have employees, this insurance is mandatory. It covers legal costs and compensation if an employee falls ill or gets injured while working for your company.
Professional Indemnity Insurance: This type of insurance is crucial for professionals who provide advice or services. It protects against claims arising from errors, omissions, or negligence in your work.
Remember, each company’s needs are unique, so it’s essential to tailor your insurance coverage accordingly.
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