Limited Companies

Registering as a limited liability company has many advantages and is the next logical step when your business has moved beyond sole proprietorship.

With the growth of the limited partnership comes additional management responsibilities, the most important of which is managing the finances of your limited partnership.

If you find LLC finances time-consuming and a real headache, don’t worry, Mazuma’s LLC Accounts Service can help.

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Accountancy services we provide:

Fixed price accounting services for limited companies. Accounting for limited companies, corporate tax declarations, VAT declarations, accounting services, payroll services and self-assessments with a new approach, focused on service levels and proactive advice. We provide business accounts, tax returns, VAT returns, accounting services, self-assessments, payroll services and more to limited partnerships. We are best known for our all-inclusive unlimited service plan, which includes all the accounting services required by a UK business and more for one fixed monthly fee.

Company Accounts

Company Accounts

Tax-advantaged business accounts are set up by Experts-accountant

Personal Tax Returns

Personal Tax Returns

Self-assessment personal tax returns for individuals and directors..

Vat Returns

VAT Returns

VAT returns to HMRC that are accurate and submitted on time, every time.

Bookeping Services

Bookeeping Services

A fully managed accounting service allows you to manage your business.

Financial reports

Financial Reports

Financial reports that help make better business decisions and identify tax savings


Payroll Services

Fully managed payroll service from start to finish.

   Get Ongoing Expert Assistance with The accountancy advice Accounting Services

There are many cases where the limited partnership model makes more sense. But running a limited liability company can be difficult, as you have to take on an important role in managing your company’s accounts.

At The accountancy advice, we can help you with all aspects of your LLC’s accounts and finances, from setting up your Companies House business to keeping accurate monthly accounting records and filing your year-end accounts. .

We understand that even the Companies House registration process can be daunting for new business owners. As a director of a limited liability company, you should be responsible for accurately entering company information online. And it doesn’t stop when you sign up.

Limited partnerships must keep accurate accounting records and file their annual accounts in a timely manner. Any outstanding tax liability must be settled in accordance with your annual corporation tax return.

In addition to managing your limited partnership accounts, as your small business owner you must file and pay your self-assessment tax bill at the end of the tax year. However, the amount of tax you pay depends on your company’s annual turnover and your concern for tax efficiency.

In addition, you also have other legal responsibilities to fulfill as a director of a limited company. For example, you must notify HMRC of any changes to your company and follow your company rules as set out in your articles of association.

This is on top of the day-to-day responsibilities of running your business, such as sourcing or building inventory, paying staff, your own compensation (which is harder than you think, since you and your business are a separate legal entity), dealing with customers, etc.

Many directors of LLCs find that they simply cannot handle all the responsibilities on their own. Even if your company has multiple directors and each assumes a different job title, you may find it difficult to carry out your duties. And if you’re not trained in the more difficult aspects of accounting, you’ll probably end up doing something wrong.

To avoid penalties from HM Revenue and free up your time to focus on other parts of your job, most UK limited company directors choose to outsource their financial management to a dedicated accountant.

Why you need an accountant for your limited company in England

You might think that being a small business means you don’t have to worry about accounting, so you can choose to do it yourself. There’s nothing wrong with that, as long as you don’t make any mistakes and you have an idea of ​​what you’re doing. However, you may miss out on some of the added benefits you get from using an accountant. So let’s look at the reasons to hire an accountant instead of doing it yourself.

You save time

In addition to keeping your day-to-day accounts, you must also file your annual accounts and prepare your tax returns.

This can be tedious and time-consuming work. Since accountants are used to this type of work, you will find that they can work more efficiently, which can save you time and money.

tax efficiency

Many companies hire accountants to reduce their overall tax burden. Accountants know best what deductions you can use and how to manage your income to minimize taxes. This can improve the overall financial health of the business.

It’s probably best to hire a tax accountant because you have peace of mind knowing you’re still meeting all of your legal obligations.

Presentation of accounts and tax declarations

All limited partnerships must file statutory annual accounts, which must include the following:

Income statement (P&L)
Balance sheet
Any additional comments on the accounts.
There are specific filing deadlines and procedures.

In addition to filing your annual accounts, you must also file an annual tax return. This includes a calculation of profit and loss for corporation tax purposes (which is different from the income statement prepared for the accounts).

There are different deadlines for filing and paying corporation tax. Your accountant can help you manage these differences.

In addition to the two, you must also submit your Confirmation Statement, which confirms your company’s registered details so that Companies House has the most up-to-date information on file.

Additionally, as a business administrator, you will be required to do your own self-assessment once a year. It contains information on any salary received, as well as dividends. This may be difficult to achieve on your own.

Accountants can help you stay on top of all these filings and the deadlines for making them.

Avoid tax investigations

Every year HMRC can carry out a tax compliance check on your business. Many of them are done by randomly selected companies, but most of them are done because of a “red flag”. These red flags can include a big difference or obviously incorrect numbers, or even late reports.

By hiring an accountant, your business numbers are likely to be accurate and your records are kept up to date. This can reduce the likelihood of HMRC carrying out a compliance check on you.

Not only does this reduce the likelihood of spot checks, but it can also give you peace of mind if a full investigation is carried out.

Avoid penalties and fines

If your tax return or limited partnership returns are late or inaccurate, it can lead to a large number of fines and penalties. These may include the exclusion of your company, the exclusion of directors, or, in some cases, the imposition of criminal penalties.

This can be avoided if you have an accountant, as one of their key roles is to ensure your business is compliant with regulations.

Better business planning

It is often difficult for business owners to take stock of their financial situation and consider future business strategies, as they are often preoccupied with the day-to-day running of the business.

If you hire a qualified accountant, they can help you assess your current position, analyze seasonal trends, and help you take advantage of opportunities. Additionally, they should also be able to help with cash flow forecasting, allowing managers to make the right decision at the right time.



Contact us for a tailor-made, free and non-binding advice! Our accounting experts answer your questions and help you stay focused on what matters most: your business.