Local accountants. Clear company support.
Limited Company Accountants in Coventry and the Midlands
Practical accounts, Corporation Tax and bookkeeping support for owner managed limited companies. Fair Books helps directors understand the figures, meet key filing duties and ask the right questions about company expenses and benefits.
Running a company
Clear Support for Limited Company Directors
A limited company is legally separate from its directors and shareholders. Company money and personal money must be kept separate, and the company needs reliable financial records for its statutory accounts and Company Tax Return.
Fair Books provides straightforward support for directors who want to understand what must be done, what information is needed and when action is due.
Read the official GOV.UK company records guidance.
Separate company records
Keep company banking, income, costs and documents clearly organised.
Understand the deadlines
Know the difference between accounts, tax payment, tax return and confirmation statement dates.
Make informed decisions
Use clear figures when considering director pay, dividends, expenses and future plans.
How we can help
Limited Company Accounting Services
Support can be shaped around the company’s size, records and filing needs. We explain the work in plain English and avoid unnecessary jargon.
Statutory Annual Accounts
Preparation of annual accounts from the company records, ready for the relevant Companies House and HMRC requirements.
Company Tax Returns
Preparation of the Company Tax Return and calculation of the Corporation Tax position using the information supplied.
Bookkeeping and Records
Practical help keeping company income, costs, bank activity and supporting documents organised.
Director Pay and Benefits
Clear discussion of salary, dividends, reimbursed expenses and benefits, based on the company and director’s circumstances.
Companies House Duties
Help understanding accounts dates, confirmation statements and company information that needs attention.
Ongoing Company Support
A consistent point of contact as the company grows, its records change or new questions arise.
Did you know?
Trivial Benefits for Company Directors
Some small benefits can qualify as trivial benefits. GOV.UK says there is no tax or National Insurance to pay and nothing to report to HMRC when every condition is met.
The benefit costs the company £50 or less to provide.
It is not cash and it is not a cash voucher.
It is not a reward for the person’s work or performance.
It is not included in the person’s employment contract.
A director of a close company cannot receive trivial benefits worth more than £300 in total during a tax year. A close company is generally a limited company run by five or fewer shareholders. Each benefit must still meet all the conditions above.
Trivial benefits are only one part of director planning. Salary, dividends, pension contributions, reimbursed business expenses and other benefits have separate rules. Individual circumstances differ, so check before acting. See the official GOV.UK trivial benefits guidance.
Key company dates
Limited Company Filing and Tax Deadlines
The exact dates depend on the company’s accounting period and Companies House records. These are the main time frames directors should understand.
The return can still be required where the company made a loss or has no Corporation Tax to pay.
The payment date normally comes before the Company Tax Return filing deadline.
The statement can be filed up to 14 days after the review period ends.
Current guidance says directors must verify their identity. The next confirmation statement needs a Companies House personal code for every director and confirmation that each director has completed identity verification. Check the latest Companies House confirmation statement guidance.
Corporation Tax rates depend on the company’s profit and circumstances. GOV.UK currently states a 19% small profits rate for profits of £50,000 or less, a 25% main rate above £250,000 and possible Marginal Relief between those amounts. Thresholds can be reduced for short periods and associated companies. Check the current Corporation Tax rates before relying on these figures.
Getting organised
What Company Records Might Be Needed?
The exact information depends on the company. Useful records can include:
If the day to day records need support, see our bookkeeping services. Directors who also need personal filing support can visit our Self Assessment service.
Local company accountants
Limited Company Accountants Across Coventry and the Midlands
Fair Books Accountancy Ltd is a Coventry based accountancy practice supporting owner managed companies and small businesses with accounts, bookkeeping and tax matters. We work with businesses across Coventry, Nuneaton, Bedworth, Hinckley, Leamington Spa, Solihull, Birmingham, Leicester and surrounding Midlands areas.
Common questions
Limited Company Accounts FAQs
Does every limited company need annual accounts?
Private limited companies normally prepare statutory annual accounts from their financial records. The accounts are sent to shareholders, Companies House and HMRC as part of the Company Tax Return process. Simpler options can apply to some small, micro or dormant companies.
When is Corporation Tax due?
For many companies, Corporation Tax is due 9 months and 1 day after the end of the accounting period. The Company Tax Return is normally due 12 months after the accounting period ends. Different rules can apply, so check the company’s dates.
Can a director receive trivial benefits?
Yes, where every trivial benefit condition is met. Each benefit must cost £50 or less, cannot be cash or a cash voucher, cannot reward work or performance and cannot be contractual. Directors of close companies also have a £300 total cap for the tax year.
Can I take dividends whenever I want?
Dividends need sufficient available company profits and the correct company records. Personal tax can also arise for the shareholder. Check the figures and paperwork before declaring or paying a dividend.
Do company and personal money need to be separate?
Yes. A limited company is a separate legal entity. GOV.UK says company finances must be clearly separated from the finances of its owners and directors, including separate company banking.
Does Fair Books support companies outside Coventry?
Yes. Fair Books supports small businesses across Coventry and the wider Midlands. Contact us to discuss the company, its records and the most practical way to work together.
Let’s talk
Need help with your limited company?
Tell us about the company, its accounting period and the records you have. We will explain the next practical steps.