Can an accountant help set up a limited company?

Setting up a limited company gives entrepreneurs a range of benefits, including limited liability, tax advantages, and professional business structures.

It creates a separate legal entity, meaning the company is responsible for its debts and liabilities, separating the business founder’s private assets from those that belong to the business.

The process of setting up a limited company has a number of steps, including registering with Companies House, choosing directors and shareholders, and ensuring that the new entity remains compliant with tax and legal obligations.

Because of this range of requirements, most people without specialist financial or business law knowledge hire the expertise of a professional, such as an accountant, to ensure the process is completed smoothly.

What are the advantages of using an accountant to set up limited company businesses?

Why use an accountant to set up your limited company?

An accountant set up limited company can give your business the best platform from which to start.

Here’s how:

Expertise and compliance

Setting up a limited company requires meeting specific statutory requirements, including choosing the correct structure, registering the company with Companies House, and ensuring legal compliance with a range of legislation. Using an accountant to set up a limited company business ensures the company will have the correct structure and all the essential documents are filed

Tax efficiency

Using an accountant to set up limited company businesses will ensure it’s structured in the most tax-efficient way. This includes advising on the suitability of a limited company as a structure for your business. As soon as a limited company is established, accountants can assist with registering with VAT and setting up PAYE, while ensuring you’re compliant with Corporation Tax regulations.

Choosing directors and shareholders

An accountant can guide you through the process of selecting directors, ensuring the ownership and management structure is suited to your business goals. They can also advise on how shares should be issued to potential investors or new business partners.

Registering with Companies House

Your accountant will complete and submit the necessary forms either online, or by post, ensuring that all of the essential information is included. Crucially, the accountant will ensure that your company name is unique and complies with established naming regulations.

Business bank accounts and record-keeping

Your accountant can guide you through the process of opening a business bank account, setting up your company’s accounting system, and ensuring accurate records are kept from day one. Proper bookkeeping enables your company to remain compliant with tax law, and your accountant can advise on the best accounting software to use. They will also be able to provide ongoing financial and bookkeeping services.

Ongoing financial advice

An accountant can provide you with a range of ongoing services and financial growth to help you achieve your business goals. They can help you navigate finances, ensure you’re taking advantage of allowances and reliefs, and support good financial decision-making.

Comprehensive accounting and financial advice from DAAFL

At DAAFL, our team of financial experts provides a range of accounting services for limited companies, ensuring they meet their statutory obligations, reduce their liabilities, and optimise their financial record keeping.

We can assist in setting up your company and helping you get the best possible start to your business.

Want to learn more about limited company accounting and the value it brings to your business?