Starting a Limited Company is exciting, but once the paperwork is done, the question pops up: do I need an accountant for my Limited Company? Or even, is it a legal requirement to have a Limited Company accountant?

The truth is you don’t have to hire an accountant. Some business owners manage their accounts themselves using accounting software (like Crunch!) or spreadsheets. But Limited Company accounting comes with deadlines, legal obligations, and rules that can be tricky to get right. 

Having a Limited Company accountant makes life a lot easier. They keep you compliant and help you make the most of your tax allowances, and take care of the numbers. That way you can focus on growing your business instead of trying to decode HMRC guidance.

Is an accountant a legal requirement for Limited Companies?

The short answer is no. There is no legal need for an accountant for your Limited Company. You can manage your accounts yourself if you have the time, knowledge, organisation, and confidence. However, being a director of a Limited Company comes with legal responsibilities.

You need to keep accurate financial records, submit annual accounts to Companies House, file a company tax return (and a personal Self Assessment), file confirmation statements yearly, and deal with payroll if you have employees. And if your business is also VAT registered, there are even more requirements. 

Doing any of these wrong or missing deadlines can be costly. So while it’s not a legal requirement, having professional guidance is worth considering. 

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What are the benefits of having an accountant?

A good accountant does a lot a lot more than just prepare figures for HMRC and tick boxes.

Save time

Let’s be honest, running a business is time-consuming. The last thing you want is to add managing your accounts to your workload. Keeping your books in order, reconciling transactions, hitting deadlines, and making sure you haven’t misread a tricky HMRC rule can quickly become overwhelming.

That’s why many business owners ask themselves, do I need an accountant for my Limited Company? The answer often comes down to whether you want to handle it all yourself or have an accountant on your side. With the right support, you can focus on running and growing your business instead of getting lost in paperwork.

Reduce stress

There’s a lot at stake when it comes to company accounts. Mistakes can lead to fines, penalties, or unwanted attention from HMRC. Having an accountant means someone else is double-checking your numbers and keeping you compliant, giving you peace of mind.

Expert advice

Accountants don’t just handle compliance, they provide guidance. From tax planning and cash flow management to working to try and reduce your Self Assessment bill, the right accountant can offer insights that make a real difference to your business.

For example, Crunch clients see average suggested savings of £3,722, which more than covers even our most premium accounting packages. Having an accountant on your side does more than keep you compliant, it helps you make smarter decisions and can keep more of your hard-earned money in the business.
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Common pitfalls to avoid when managing your own accounts

Even if you’re confident with numbers, managing your own accounts can be tricky. Small mistakes can lead to stress, fines, or lost money.

Here are the most common pitfalls:

• Missing deadlines - HMRC and Companies House have strict filing dates for company accounts, Corporation Tax, VAT returns, and Self Assessment. Miss one, and fines or extra hassle can follow.
  
  
• Misclassifying income or expenses - Getting transactions in the wrong category can affect your tax bill and Year End accounts. Accountants make sure everything is filed correctly and claimable allowances aren’t missed.
  
  
• IR35 and payroll errors - If you work through a Limited Company, misunderstanding IR35 or payroll rules can result in unexpected tax bills. Accountants guide you through compliance and get it right the first time.
  
  
• Overlooking tax allowances and reliefs - Limited Companies can claim deductions, but it’s easy to miss what applies. Accountants spot opportunities to reduce your tax bill legally and efficiently.

Managing your own accounts is possible, but these pitfalls show why professional support can save time, money, and stress.
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What an accountant actually does for your Limited Company

Not every business needs the same level of support. Most accountants (including Crunch) offer options to suit different needs. Some companies just want help with the basics, while others prefer full-service support that covers everything from bookkeeping to tax planning. 

Here are some of the services an accountant can handle for businesses:

How Crunch helps Limited Companies

We get it, every business is different, so accounting cannot be one size fits all. Crunch gives you options depending on how much help you want.

Do it yourself

Want to keep control? Our free software lets you track your finances, manage VAT, send invoices, reconcile your accounts. All without getting lost in spreadsheets.

So if you want free accounting software that doesn’t need an accounting degree, you’re in luck. 

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Done-for-you

Prefer to have experts on hand? Perfect. We have a full team of certified accountants and tax experts on call to guide you through pretty much every question you can think of. You can choose exactly what services you want covered. 

Plus, every client gets a client success manager who are worth their weight in gold. They’re ready for anything from quick "how do I do this" questions to full product demos. Want to learn more about our accounting services? Check out our Limited accounting page now. 

Crunch Premier

Got a bigger business or just prefer an even more personal touch? Crunch Premier allows you to have a dedicated senior accountant without the premium price tag. They can support your day-to-day accounts, offer advice on tax, cash flow, and company structure.

Depending on which level you opt for, you can even have your accounts totally taken care of by our bookkeeping team. Meaning plenty more time for your business. 

Make accounting work for you

With Crunch, your accounts are clear, compliant, and easy to manage. You get the support you need without the stress, whether that’s guidance from our accountants, access to expert advice, or software that puts you in control. That means fewer missed deadlines, less guesswork, and more time to focus on growing your business confidently.

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