Code

Limited company accounting

Custom-fit for you, built for Limited Companies

Would your business benefit from using intuitive and powerful Limited Company tax & accounting software?

Crunch provides professionals with access to their own built-in Client Managers and Chartered Certified Accountant.

Figure out your Limited Company accounting with Crunch.

Image of 2 ladies looking at an iPad

Alex S

Crunch is a fantastic company. They were brilliant at helping me setting up my Ltd Company. Their customer service is excellent and they take care of all my accounting for a very reasonable fee. I would highly recommend them.

Mark

So after a lot of research I choose to use Crunch for my LTD accounting. As a contractor I may have a mix of taxed at source and LTD Company work so their package is perfect for that. I always phone with queries which are answered 99% of the time straight away, if not I am then put through to an Accountant to discuss.

Steve H

"Absolutely fantastic company, they have gone above and beyond on many occasions to assist with financial matters for both the Ltd company and directors personal finances."

Why go Limited?

Choosing how best to set up your business is an important decision. Crunch are here to offer guidance and support.

Here are a few top benefits to setting up as a Limited Company.

Protection

Limited Companies separate you and your personal wealth & assets from any form of bankruptcy, litigation etc. There is much less protection offered to a sole trader or partnership,

Tax & National Insurance efficiency

Limited Companies are more tax-efficient from approximately £30,000 of annual profit. Speak to our expert team who can advise and guide you.

Reputation/Credibility

A Limited Company adds gravitas and authority to your business. The other benefit is that your clients can easily check the credit rating of a Limited Company, which helps to determine whether to work with you.

Easier access to finance

Setting up and financing a new venture is tricky. A Limited Company makes the process easier to access finance.

Crunch can form your business for free

We will cover the cost of your company formation when you sign up for a Crunch Pro, Crunch Premium or Crunch Small Business Limited Company accounting plan. Learn more about our free Limited Company formations here.

Image of a man working at a laptop

Do you need more advice?

Consult one of our experts to advise and guide you through the pros and cons of setting up as a Limited Company, or indeed any of the Crunch services.

Talk to an expert
Or read our dedicated article: Benefits of a Limited Company

Why choose Crunch?

Crunch software on mobile and a laptop

Software like no other

Crunch provides useful features that no other Limited Company accounting software offers.

These include Directors Payroll and the ability to raise your own dividends for the most tax-efficient pay. Our software even produces the dividends certificate.

Set up recurring expenses and raise similar invoices - our limited company accounting software is packed with time saving features throughout.

Our software has more features bundled in the package than any other, including free receipt scanning.

View plans & pricing

Software Service

Crunch are proud to have been the first firm to innovate the Software and Service model. By including everything professionals need in one place it has been a real revelation in the Limited Company accounting arena.

Crunch has developed attractive-looking accountancy software for you and we provide unlimited access to our expert Limited Company accountants.

With a team of specialists perpetually at your disposal, it can feel like you have your own accountancy firm or finance department at your convenience.

"Hi there I have a question about my bank reconciliation this month."A chat response from a crunch accountant

Client Managers

Our Client Management team are efficient and personable support team members, available to assist no matter how small or large your query is. We also offer training on our Limited Company accounting software.

Everything you could ever need

Crunch is equipped with an array of experts to meet your requirements, ranging from bookkeepers and mortgage brokers to payroll experts and tax experts.

Limited Company accountants

There is nothing like having an accessible expert Limited Company accountant, especially without the clock ticking and a consultation fee racking up.

View Plans & pricing

Unique Features

An image of an umbrella

CrunchTwinTrack

Our Crunch innovation solves the complexities with HMRC’s IR35 tax legislation in one addition with Crunch Premium’s package.

Contractors and consultants enjoy owning a Limited Company. This is partly because it offers the freedom to choose the projects they want.

While many projects/roles are outside IR35, or if they are working for smaller companies and are unaffected by IR35, contractors and consultants can easily work and bill from their Limited Company.

When projects are deemed inside IR35, Crunch provides an ‘Umbrella’ service, similar to a payroll capability, so that our members pay all the appropriate taxes. With CrunchTwinTrack you can stay within the IR35 legislation, yet can still keep your Limited Company operating.

All within one fixed monthly price on Crunch Premium.

CrunchIntegrations

Easily connect your Crunch account to a range of helpful business-boosting tools from our trusted collaborators.

Brixx logo

Financial forecasting, reporting for cash flow, business planning and budgeting for your business. Get the free plan with all Crunch subscriptions.

Shopify logo

Create your own online store for your business with Shopify. Available for all Crunch Limited Company, Sole Trader and Free clients

Coming soon -
Stripe logo

Accept payments, send payouts, and manage your business online. Free for all Crunch paid subscription users.


Coming soon -
View Plans & pricing

Crunch Benefits

Saving time is not a gamble

Save time without being a risktaker.  Crunch offers expert limited company accountants within the package.

We estimate that this saves business owners around three working days of hunting by asking Crunch for recommendations.

A major issue with traditional accountants is that although they embrace new business, not all of them plan and prepare to get more resources and scale.

An image of two dice.
Image of a stopwatch

Rapid year-end accounts

Leading SLA's:

  • Six weeks on Crunch Small Business
  • Eight weeks on Crunch Premium

Traditional Limited Company accountants tend not to operate like modern service businesses. So you can be left frustrated by having to chase and chase.

Companies House allows nine months to file accounts after year-end. Should you need them super fast then that is no problem, thanks to our express accounts service and a full references service.

Major award winners

Does anyone really take 'award-winning' into account?

Competition is fierce in the world of Limited Company accountancy, and every single award that we have won.

Crunch has spent years planning, building and implementing powerful yet straightforward Limited Company accounting software.

Although created with a high degree of technical competency, Crunch has been built with the mindset that it is easy to navigate and operate.

Cartoon of a trophy
View Plans & pricing

Why business owners count on Crunch

Milind Barve

January 24, 2022

One of the best online accountants. I ran two Limited Companies with Crunch. An amazing experience, I would definitely recommend.

More

Annie Munday

January 24, 2022

Crunch are fantastic. Always there to support you, which is especially useful when you are a new business owner. Super fast and reliable service.

More

Rob

January 21, 2022

Crunch has always provided me with a great service. I have repeatedly recommended them to my friends.

More

Manage your money ...

Connect your bank account

Our free, secure Open Banking feeds connect your business bank account to your Crunch Limited Company accounting software. It will automatically import all business transactions.

This is the fastest and safest way to keep your business accounts up-to-date.

Bank logos in a 4 by 3 grid

Cashflow & Corporation Tax liability

Tracking and managing your money is straightforward with a Crunch complete Limited Company accountancy package.

Money management in today's digital world means that you have fast access to expense and invoices.

A Crunch package provides details of how much Corporation Tax to pay and indicates how much you can take in dividends.

View Plans & pricing

Comparing Apples with Oranges

It is easy to see a price for a service without taking into account what is included.

When you consider a software product then compare our rivals to all of the amazing accounting support that Crunch offers as standard with our Limited Company plans.

To help compare apples with apples, we have pitted ourselves against some of the biggest players in the UK Accounting market for you to make your own comparisons.

image of an apple with the inside on an orange
Crunch
Quickbooks
Xero
FreeAgent
Sage
Limited Pro
Software + Service
Essentials
Software only
Standard
Software only
Monthly
Software only
Standard
Software only
Monthly cost ex VAT
£39.50
£22
£26
£29
£24
Average monthly cost of an accountant *
Fully inclusive
£140
£140
£140
£140
Monthly cost of Software + Service (exc VAT)
£162
£166
£169
£164
Monthly saving with Crunch Ltd Pro
-
£122.50
£126.50
£129.50
£124.50
Annual saving with Crunch Ltd Pro
-
£1,470.00
£1,518.00
£1,554.00
£1,494.00
Invoicing
Record expenses
Bank feeds
Bank reconciliation
VAT submission
Self Assessment filing
Add on £95
Corporation Tax return filing
Add on
N/A
Confirmation Statement submission
Add on £13
N/A
Annual accounts
Add on
N/A
Payroll
Add on
Add on
Add on
Reporting
Crunch
Quickbooks
Xero
FreeAgent
Sage
Limited Premium
Software + Service
Essentials
Software only
Standard
Software only
Monthly
Software only
Standard
Software only
Monthly cost ex VAT
£115.50
£22
£26
£29
£24
Average monthly cost of an accountant *
Fully inclusive!
£140
£140
£140
£140
Monthly cost of Software + Service (exc VAT)
£162
£166
£169
£164
Monthly saving with Crunch Ltd Pro
-
£46.50
£50.50
£53.50
£48.50
Annual saving with Crunch Ltd Pro
-
£558.00
£606.00
£642.00
£582.00
Invoicing
Record expenses
Bank feeds
Bank reconciliation
VAT submission
Self Assessment filing
Corporation Tax return filing
N/A
Confirmation Statement submission
N/A
Annual accounts
N/A
Payroll
Add on
Add on
Add on
Reporting
*  Average cost of four randomly-chosen traditional accountancy firms:
  Diamond Accounting: £2,150 pa = £179 pm |  Cardens: £1,805 pa = £150.41 pm | Taj Accountants: £1,500 pa = £125 pm |    
  Fusion Accountants: £1,250 pa = £104 pm
  Equals: £140 pm average

Three easy steps to join Crunch

How do I sign up for Crunch Limited Company accountancy package?

Speak with us

Click the button below to book in a chat with one of our personable and knowledgeable advisors.

Talk to an expert

Set you up

A Crunch expert client manager will guide you to ensure that everything set up for you.

That is it

Our simple, intuitive sign-up process is complete. Now you are ready to be productive.

Choose the best accounting software solution for your business

Crunch wants to make the process of managing money a breeze. The Crunch Limited Company accounting software is convenient, feature-rich and user-friendly.

Help is never more than a phone call away. Crunch can connect you to a specialist so that all the support you will ever need is always available.

most popular

Limited Company Pro

Includes accounting software and unlimited accountancy support with director payroll, dividends and more.

From

£39.50 £19.75

From

£75.50 £37.75

+VAT per month
Request a callback
Pro accounting software

Easy-to-use online accounting software that lets you send and track all your invoices, and record payments and expenses, so you can get a real-time view of how your business is doing anytime, anywhere.

Create and issue invoices

Send professional invoices to your clients on-the-go, personalise invoices with your company logo, record and track your income, and set up recurring invoices and late payment reminders.

Record & track expenses

Easily keep track of all your business expenses, set up recurring expenses and even use our free app (‘Snap’) to take a photo of your receipts and have them automatically uploaded to your Crunch software.

Connect your bank account

Link your business bank account to your Crunch software to quickly import bank statements and make reconciling your accounts quicker. Our software integrates with most major banks.

Bank reconciliation

Import all your transactions from your bank account and match them against expenses and invoices, our software makes suggestions for matching transactions to make your bookkeeping easy. Once your account is up to date and reconciled, our software will make publishing your accounts and filing your statutory returns easy.

Real time tax dashboard

Get a complete overview of what tax you owe with our real-time dashboard, giving you a clear and instant picture of your business finances.

Unlimited accountancy support

Get access to your own team of Crunch client managers and accountants, on hand for day-to-day support. They’ll guide you through your online accounting software, make sure you stay on top of deadlines, and help you with support and advice on dealing with HMRC.

Dedicated client management

Your own team of Crunch client managers will be on hand for day-to-day contact. They’ll guide you through your online accounting software, make sure you stay on top of deadlines, and help you with support and advice on dealing with HMRC. We’re online, so you’ll always be able to get hold of us; no appointments, no fuss.

Annual accountancy healthcheck
add-on

Get expert advice on improving your company’s growth and tax-efficiency.

Our Crunch Premium package includes an Accountancy Healthcheck every 12 months. Our Accountancy Healthcheck is designed to provide guidance on helping improve your limited company's financial performance, assist with any changes in regulations and the impact on your business, and help you to understand the changing needs of your business.

Crunch Pro package clients are able to purchase an Accountancy Healthcheck as an add-on service.

In-app chat

Upgrade to Premium and start a direct chat with one of our friendly client managers for quicker in-software support.

HMRC Registration

We’ll take care of getting you registered with HMRC, as well as for any personal or business taxes, so you’ll be up and running in no time.

Year end accounts
add-on

We’ll make sure your annual accounts are prepared and filed correctly. Once we’ve got the information we need from you, your accounts will be prepared by our expert accountants and filed directly with HMRC and Companies House at the click of a button.

Crunch Pro package clients are able to purchase Year-end-accounts as an add-on service. Please speak to an advisor.

Director payroll

Our simple Real Time Information (RTI) compliant payroll software makes it easy for Pro and Premium clients to set up a monthly, recurring salary. All your HMRC filing and payslips are done for you, our software connects to HMRC, so any PAYE-related returns can be submitted directly to ensure you’re compliant.

Pro package clients can have up to two directors taking a salary up to the relevant National Insurance (NI) threshold. If you wish to take more than the NI threshold amount as a salary you’ll have to use our add-on payroll service.

If you wish to take on employees who are not also company directors, you’ll have to use our add-on payroll service.

If you have multiple sources of employment income or you're receiving a pension, you may have a non-standard tax code. In this case, we’ll review your situation and you may have to use our add-on payroll service.

Tax-efficient dividends

As well as taking a director’s salary, you’ll usually want to take dividends from your company profits. Crunch makes paying yourself tax-efficiently with dividend payments easy. Our software lets you make quick and easy dividend payments at the click of a button and produces all the records you’ll need to keep for HMRC.

VAT registration and filing

If you’re VAT registered, your software will automatically calculate your VAT transactions and prepare your returns for filing with HMRC every quarter when due.

Once you’ve approved it, you can submit your VAT return to HMRC with our online accounting software quickly and efficiently. 

We’ll always remind you of upcoming deadlines so you’ll always be aware of your responsibilities. Your software is HMRC compatible and meets the Making Tax Digital (MTD) requirements.

Self Assessment filing
add-on

Get expert help to prepare your Self Assessment, and submit it to HMRC using our innovative online accounting software. We’ll make sure you’re paying the correct amount of personal tax and claiming all the allowances you’re entitled to. We provide a comprehensive review of your Self Assessment, as well as help with more complex returns, such as advising you on multiple sources of income. 

Self Assessment support comes as standard on our Premium package.

TwinTrack - ultimate IR35 solution
add-on

Upgrade to our Crunch Premium package if you have any concerns about IR35. We have a complete range of IR35 solutions: our switchable IR35 service means you can seamlessly move between limited company working or Umbrella payroll if your assignment is inside IR35. Our Crunch software can make any deductions you need for employment taxes, or handle any client payments you receive that have already had employment taxes deducted.

You’ll get unlimited online IR35 assessments to check the status of your assignments. You’ll also get one, free detailed review of the IR35 status of an assignment contract with a report showing your areas of risk, and recommendations to help evidence your contract is outside IR35. A Crunch expert will review your company's contract with your end client and the actual working practices in place to help you understand your employment status (one detailed review and report per year).

Crunch Pro package clients get unlimited online IR35 assessments and are able to purchase a detailed IR35 review as an add-on service.

Company formation

We’ll form your small business or limited company on your behalf and ensure your business is registered for all appropriate taxes.

Service address & mail forwarding

We provide you with a London service address for maximum professionalism and confidence. This service is included as standard in our Premium package.

Registered office address
add-on

Crunch can provide an additional service to hide your home address from the public register and provide digital copies of all your company post.

Professional references
add-on

Up to two accountant’s references per year for lettings or mortgages.

If you need an accountant’s reference to confirm your business finances we can help. For our Premium package clients, we'll provide up to two references for lettings or mortgage purposes each year.

If you’re a Pro package client or require other types of reference, we can still help you, though there will be an additional charge.

We can provide non-financial references to meet your specific requirements for an add-on fee on request.

Snap app

Record expenses instantly on your mobile with our app (‘Snap’). Simply take a picture of your receipt and Snap will capture all the important data (including date, price, and VAT), then automatically record it as an expense in your Crunch account. Available for Android and iPhone.

TripCatcher

Easily keep track of business mileage on the go with 'TripCatcher'. Just enter the miles you’ve travelled after each business journey using the free TripCatcher app or website. Your mileage claim will be calculated and recorded as an expense automatically in your Crunch account. It’ll even take care of any tricky VAT calculations needed if you’re VAT registered.

Everything you need

Small Business

Beyond powerful Pro software and Service combination including bookkeeping and a dedicated accountant.

From £196.50 £98.25

+VAT per month
Request a callback
Pro accounting software

Easy-to-use online accounting software that lets you send and track all your invoices, and record payments and expenses, so you can get a real-time view of how your business is doing anytime, anywhere.

Create and issue invoices

Send professional invoices to your clients on-the-go, personalise invoices with your company logo, record and track your income, and set up recurring invoices and late payment reminders.

Record & track expenses

Easily keep track of all your business expenses, set up recurring expenses and even use our free app (‘Snap’) to take a photo of your receipts and have them automatically uploaded to your Crunch software.

Connect your bank account

Link your business bank account to your Crunch software to quickly import bank statements and make reconciling your accounts quicker. Our software integrates with most major banks.

Bank reconciliation

Import all your transactions from your bank account and match them against expenses and invoices, our software makes suggestions for matching transactions to make your bookkeeping easy. Once your account is up to date and reconciled, our software will make publishing your accounts and filing your statutory returns easy.

Real time tax dashboard

Get a complete overview of what tax you owe with our real-time dashboard, giving you a clear and instant picture of your business finances.

Dedicated accountant & Bookkeeper

Get access to your own Crunch accountant and bookkeeper, on hand for day-to-day support. They’ll guide you through your online accounting software, make sure you stay on top of deadlines, and help you with support and advice on dealing with HMRC.

Dedicated client management

Your own team of Crunch client managers will be on hand for day-to-day contact. They’ll guide you through your online accounting software, make sure you stay on top of deadlines, and help you with support and advice on dealing with HMRC. We’re online, so you’ll always be able to get hold of us; no appointments, no fuss.

Annual accountancy healthcheck

Get expert advice on improving your company’s growth and tax-efficiency. Our Accountancy Healthcheck is designed to provide guidance on helping improve your limited company's financial performance, assist with any changes in regulations and the impact on your business, and help you to understand the changing needs of your business.

Unlimited phone and email support

Unlimited access to one of Crunch's Senior Chartered Certified Accountants and Senior Client Manager/Bookkeeper.

HMRC Registration

We’ll take care of getting you registered with HMRC, as well as for any personal or business taxes, so you’ll be up and running in no time.

Year end accounts

We’ll make sure your annual accounts are prepared and filed correctly. Once we’ve got the information we need from you, your accounts will be prepared by our expert accountants and filed directly with HMRC and Companies House at the click of a button.

Director payroll + 1-15 employees

Our simple Real Time Information (RTI) compliant payroll software makes it easy for Small Business clients to set up a monthly, recurring salary. All your HMRC filing and payslips are done for you, our software connects to HMRC, so any PAYE-related returns can be submitted directly to ensure you’re compliant.

Small Business package clients can choose any salary level they wish for up to four directors. We also offer payroll for up to 15 employees!

If you wish to take on employees who are not also company directors, we can support you with our add-on payroll service.

If you have multiple sources of employment income or you're receiving a pension, you may have a non-standard tax code. In this case, we’ll review your situation and you may have to use our add-on payroll service.

Tax-efficient dividends

As well as taking a director’s salary, you’ll usually want to take dividends from your company profits. Crunch makes paying yourself tax-efficiently with dividend payments easy. Our software lets you make quick and easy dividend payments at the click of a button and produces all the records you’ll need to keep for HMRC.

VAT registration and filing

If you’re VAT registered, your software will automatically calculate your VAT transactions and prepare your returns for filing with HMRC every quarter when due.

Once you’ve approved it, you can submit your VAT return to HMRC with our online accounting software quickly and efficiently. 

We’ll always remind you of upcoming deadlines so you’ll always be aware of your responsibilities. Your software is HMRC compatible and meets the Making Tax Digital (MTD) requirements.

Self Assessment filing

Get expert help to prepare your Self Assessment and submit it to HMRC using our innovative online accounting software. We’ll make sure you’re paying the correct amount of personal tax and claiming all the allowances you’re entitled to. We provide a comprehensive review of your Self Assessment, as well as help with more complex returns, such as advising you on multiple sources of income.

TwinTrack - ultimate IR35 solution

Our Small Business package offers a complete range of IR35 solutions. Our switchable IR35 service means you can seamlessly move between limited company working or Umbrella payroll if your assignment is inside IR35. Our Crunch software can make any deductions you need for employment taxes, or handle any client payments you receive that have already had employment taxes deducted.

You’ll get unlimited online IR35 assessments to check the status of your assignments.

Company formation

We’ll form your small business or limited company on your behalf and ensure your business is registered for all appropriate taxes.

Service address & mail forwarding

We provide you with a London service address for maximum professionalism and confidence.

Registered office address
add-on

Crunch can provide an additional service to hide your home address from the public register and provide digital copies of all your company post.

Professional references

Up to two accountant’s references per year for lettings or mortgages.

If you need an accountant’s reference to confirm your business finances we can help. For our Small Business package clients, we'll provide up to two references for lettings or mortgage purposes each year.

If you’re a Pro package client or require other types of reference, we can still help you, though there will be an additional charge.

We can provide non-financial references to meet your specific requirements for an add-on fee on request.

Snap app

Record expenses instantly on your mobile with our app (‘Snap’). Simply take a picture of your receipt and Snap will capture all the important data (including date, price, and VAT), then automatically record it as an expense in your Crunch account. Available for Android and iPhone.

TripCatcher

Easily keep track of business mileage on the go with 'TripCatcher'. Just enter the miles you’ve travelled after each business journey using the free TripCatcher app or website. Your mileage claim will be calculated and recorded as an expense automatically in your Crunch account. It’ll even take care of any tricky VAT calculations needed if you’re VAT registered.

Meet Crunch Free

Starting out in business can be demanding. Initial financial restraints, until things get moving, are to be expected.

Which is why we provide the free forever software of Crunch Free to perform all of your Limited Company accounts in one place.

Track your finances, create invoices, make decisions and be fully prepared for the tax season with Crunch Free.

As your business grows you may want more financial help so our paid plans may be a better fit.

Get started with Crunch Free
Crunch software on desktop

Unsure what is right for your business?

Compare all featuresGet help from an advisor

Frequently asked questions about Limited Company accounting

Do I need an accountant for a Limited Company?

+

There’s no legal obligation for a limited company to have an accountant, but given the legal responsibilities you’ll have as a limited company director, as well as the various taxes your company will need to pay, an accountant is a vital ally.

A good accountant can help you stay on top of your business finances, submit your tax returns, and free up your time so you can do what you do best - run your business!

How much does an accountant cost for a small Limited Company?

+

At Crunch, our Limited Company Pro package costs just £75.50+VAT per month. You get access to a whole team of expert accountants and client managers who can help you manage your business finances, tax responsibilities, and so much more!

If you’re happy managing your own accounts, or you have your own accountant already, you can sign up to a Crunch Free account to help you organise your expenses, sales invoices, and other important records.

How should I be doing my Limited Company accounts?

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Your limited company will have an accounting period. When the accounting period ends, you’ll need to prepare accounts and submit them to Companies House and HMRC. 

Accounts are usually produced using accounting software. To make this process as smooth and accurate as possible, all of your limited company records, such as your expenses, sales invoices etc. should be stored in secure online accounting software. Not only will this help you stay compliant with HMRC’s Making Tax Digital (MTD) rules for VAT and other taxes, it’ll also help you stay more organised and simplify your tax returns.

Of course, we would also highly recommend getting an accountant using accessible accounting software to do the heavy lifting for you!

When are Limited Company accounts due in the UK?

+

You must file your company’s accounts with Companies House nine months after the company’s accounting period ends. The company’s Corporation Tax return and accounts must be submitted to HMRC within 12 months after the accounting period ends to which it relates.

For a more complete rundown of your limited company tax responsibilities and their due dates, check out our article on what taxes you pay as a limited company.

How can I view my Limited Company accounts?

+

As a Crunch client, you’ll be able to get a complete overview of what tax you owe with our real-time dashboard, giving you a clear and instant picture of your business finances. You’ll also be able to access all of your limited company records, such as your expense receipts, sales invoices - whether paid or unpaid - and records of your previous tax filings.

What tax do I pay as a Limited Company?

+

Limited company directors may be required to pay a number of different taxes: some limited company taxes are mandatory for all directors, while others will depend on factors such as whether your company has employees.

Some of the taxes you may be required to pay include Corporation Tax, National Insurance, and VAT. Check out our article on what taxes you pay as a limited company director for a more detailed rundown!

Do Limited Companies pay dividends?

+

If your limited company has made a profit, it can pay a dividend to shareholders. It’s important to remember that dividends aren’t a business expense when calculating your Corporation Tax, and that it’s illegal to pay a dividend if your company doesn’t have sufficient profit after tax available to cover the dividend amount.

Should I pay myself in dividends or salary?

+

Usually, the most tax-efficient way to pay yourself as a limited company director is by taking a combination of a salary and dividends from your limited company. Most directors prefer to keep their salary low, and below the National Insurance threshold, and pay themselves more in dividends. The salary will be paid to you as a director, in the same way as a regular employee. 

Our article, "How much should I take as a salary from my limited company?", can talk you through this process in much greater detail.

Do Limited Company accounts have to be audited?

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There are complex rules surrounding the type of company which must have an audit. You can find out more if you check HMRC’s website.

In general terms, if your company’s turnover is below £10.2 million, and its assets are below £5.1 million, you do not need to have an audit. However, some companies with turnover and assets below these amounts elect to have an audit to comply with financial covenants.

Do Limited Company accounts have to include every bank transaction?

+

You’ll need to include every business bank transaction that relates to your limited company to ensure your accounts remain in balance and you can reconcile them at year-end.

With secure Open Banking connections, you can link your business bank account directly to your Crunch account and import all of your transactions in one simple click. From there, reconciling your bank accounts becomes a simple job!

How long do Limited Company accounts need to be kept in the UK?

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‍You must keep records for six years from the end of the last company financial year they relate to, or longer, if:

  • they show a transaction that covers more than one of the company’s accounting periods
  • the company has bought something that it expects to last more than six years, like equipment or machinery
  • you submitted your Company Tax Return late
  • HMRC has started a compliance check into your Company Tax Return.


Check out our Knowledge article, “How long should company records be retained for?”, for more information!

Who can sign off Limited Company accounts?

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As the director of your limited company, you are responsible for authorising your tax returns. Crunch can help you prepare some of your returns, and even file them for you, but the responsibility for signing them off is ultimately yours!