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What is corporation tax?
Corporation tax is the tax your limited company pays on profits. The rate varies by profit level and changes annually. Understanding your liability helps with cash planning and compliance.
When are accounts due?
Limited companies must file accounts within nine months of their year-end. Missing this deadline triggers penalties from Companies House. Pro Acc ensures your filings arrive on time, every time.
Do I need management accounts?
Management accounts are not legally required but they show you how your business truly performs. Monthly or quarterly figures help you spot problems early and make better decisions faster.
What records must I keep?
You must keep invoices, receipts, bank statements and payroll records for at least six years. Good record keeping makes tax returns easier and protects you if HMRC asks questions.
Can I claim home office costs?
Yes, if you work from home you can claim a proportion of rent, utilities and council tax. Keep records of your working space and hours to support your claim with evidence.
Need more answers?
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The knowledge is here. Now put it to work with Pro Acc guiding every step. Whether you need accounts prepared, tax returns filed, or someone to make sense of the numbers, we're ready.