What does a limited company accountant do?
A limited company accountant prepares and files your company's annual accounts with Companies House, submits the Corporation Tax return (CT600) to HMRC, processes director payroll and RTI submissions, files quarterly VAT returns, completes director self-assessment tax returns, advises on tax-efficient salary and dividend structures, manages bookkeeping, and provides proactive advice on reducing your tax bill. At GoForma, your accountant also handles company registration, VAT registration, and FreeAgent software setup.
How much does a limited company accountant cost in the UK?
A limited company accountant in the UK costs between £60 and £300 per month depending on the service level and provider. Budget online-only services typically charge £50 to £80 per month but offer limited personalised support. GoForma charges from £79 per month all-inclusive, with a dedicated qualified accountant and all statutory filings included.
Do I need an accountant for a limited company?
You are not legally required to hire an accountant, but the vast majority of limited company directors use one because the compliance requirements are complex and the penalties for errors are significant. A limited company must file annual accounts, a Corporation Tax return, payroll RTI submissions, VAT returns, and director self-assessment. Most directors find the cost of an accountant is outweighed by the tax savings achieved through proper salary and dividend planning.
What is Corporation Tax and when does my company pay it?
Corporation Tax is the tax a UK limited company pays on its taxable profits. For the 2025/26 tax year, the main rate is 25% for companies with profits above £250,000, and 19% for companies with profits of £50,000 or less. Corporation Tax must be paid to HMRC within nine months and one day of the company's accounting period end. The CT600 must be filed within 12 months of the period end.
Do I need to register for VAT as a limited company?
You are legally required to register for VAT when your taxable turnover exceeds £90,000 per rolling 12-month period. You can also register voluntarily below this threshold, which is often beneficial if you sell to VAT-registered businesses or make significant purchases. GoForma handles VAT registration and submits all VAT returns under Making Tax Digital (MTD) as part of Operate and Grow packages.
What is a confirmation statement?
A confirmation statement is an annual filing every UK limited company must submit to Companies House to confirm the company's registered information is up to date. It is due within 14 days of the anniversary of incorporation or the last statement filed. GoForma files the confirmation statement as part of Operate and Grow packages.
What is IR35 and does it affect my limited company?
IR35 is UK tax legislation that determines whether a contractor working through a limited company should be treated as an employee of their client for tax purposes. If HMRC determines your engagement falls inside IR35, the income from that contract is treated as employment income and taxed at PAYE rates. GoForma's accountants provide IR35 assessment support.
How do I pay myself through my limited company?
The most tax-efficient approach for a limited company director is a combination of a low salary and dividends. For the 2025/26 tax year, the standard strategy is to keep the salary around the National Insurance threshold (£12,570 or lower) with dividends taxed at lower personal rates. Your accountant will advise on the optimal split based on your profit level.
Can I switch to GoForma from my current accountant?
Yes, switching is simple. GoForma manages the entire process, including contacting your current accountant, transferring records, and setting everything up without disrupting your business.
What happens if I make my company dormant?
If you expect not to be trading much over a period of time, we can help make your company dormant and provide a 50% discount during this period.
Can I do my own limited company accounts?
Yes, you can file your own accounts, but many business owners find it time-consuming and technically challenging. Most choose a limited company accountant to save time and avoid costly mistakes.
How do I close a limited company in the UK?
To close a limited company, directors must stop trading, settle all outstanding liabilities including taxes and debts, prepare final accounts, and apply to strike off the company through Companies House using form DS01. GoForma offers a company dissolution service to make sure your company is closed properly.
What expenses can you claim through a limited company?
A UK limited company can claim any expense incurred wholly and exclusively for business purposes. Common allowable expenses include office costs, software subscriptions, equipment, travel and mileage, use of home as office, professional fees, marketing, mobile phone bills, and pension contributions.
What is Making Tax Digital and is GoForma compliant?
Making Tax Digital (MTD) is HMRC's programme requiring businesses to keep digital tax records and submit returns via approved software. MTD for VAT has been mandatory for all VAT-registered businesses since April 2022. GoForma is fully MTD compliant and FreeAgent is HMRC-approved MTD software.
Do you only work with companies based in London?
No. While GoForma is based in London, we work with limited companies across the UK. Our cloud accounting, video calls, and fast online support mean you get the same expert service wherever your business is located.
