Limited company

A limited company is a separate legal entity from its owners. Most small businesses set up as limited companies. The term ‘limited’ derives from the fact that the company’s finances are distinct from the personal finances of their owners (unlike the sole trader arrangement): The higher level requirements for limited liability companies are as follows:

  • The Company must be registered at Companies House
  • Annual accounts must be filed at Companies House
  • An Annual Return must be completed each year to update Companies House with basic details relating to the company, and there will be a small annual fee.
  • HMRC must be informed if the Company has any profits or taxable income in a Company year.
  • The Company must complete an annual HMRC corporation tax return and pay the due taxes within nine months of the company year-end on an annual basis.
  • Anyone employed by the company must pay income tax and national insurance on their income.

Shareholders in limited liability companies are not responsible for company debts, although if required, directors may be required to guarantee loans or credit granted to the company.

Contact us today for free consultation

Telephone 0207 183 1082
Email This email address is being protected from spambots. You need JavaScript enabled to view it.

About Us

We are qualified and experienced medic accountants and business advisors who have been in general practice for over 20 years having helped medic & dentist clients in meeting their aims of maximizing profits and both retaining and building on the rewards of their hard work.


With our newsletter, you automatically receive our latest news via e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login

Contact Us

Medic Accountants
Unit 4, Stirling Court, Stirling Way
Ph: + 44 (0) 207 183 0034
Fx: + 44 (0) 207 100 1082
Registered in Companies House England & Wales

Birmingham office
Cambrai Court,
1229 Stratford Road,
Hall Green,
B28 9AA
Ph: 0121 285 4550
Fx: 0121 285 4551

Copyright © 2018 - Medic Accountants company. All rights reserved.  Website Privacy Policy