Company Accounts & Corporation Tax

We specialise in preparing and submitting accurate, compliant year-end accounts and Corporation Tax returns for UK limited companies. Whether you operate as a micro-entity or a growing small business, we ensure everything is filed correctly and on time, with full consideration of your tax-saving opportunities.

Which Reporting Standard Applies to Your Business?

UK companies must prepare statutory accounts using a financial reporting standard. The right framework depends on the size of your business:

FRS 105 (Micro-Entity Accounts)

Applies if your company meets two of the following:

Turnover ≤ £632,000
Balance sheet total ≤ £316,000
≤ 10 employees

Benefits:

Highly simplified accounts
No need to prepare a directors' report
Exemption from audit requirements

FRS 102 Section 1A (Small Company Accounts)

Applies if your company meets two of the following:

Turnover ≤ £10.2 million
Balance sheet total ≤ £5.1 million
≤ 50 employees

Benefits:

More detail than FRS 105, but still simplified
Suitable for companies growing beyond micro-entity status

FRS 102 (Full Standard)

Applies if your company exceeds the small company thresholds.

Features:

Full disclosure accounts
May require audit depending on structure
Generally used by medium to large companies

We’ll help determine the right standard and prepare your accounts accordingly.

What Can Be Claimed Through a Limited Company?

Understanding what’s allowable is key to reducing Corporation Tax liabilities. Common allowable expenses include:

Accountancy fees
Staff salaries and employer NI
Directors’ salaries and pension contributions
Business travel and accommodation
Office expenses (incl. home office portion)
Marketing and advertising
Software subscriptions (e.g. Xero, Microsoft 365)
Business insurance
Mobile phones and internet used for business

We also advise on:

Capital allowances (e.g. computers, office furniture)
Tax-efficient dividend and salary splits
Use of director’s loans and reimbursements

Responsibilities of Limited Companies

As a company director, you’re responsible for keeping the business compliant. Key obligations include:

Filing annual accounts with Companies House
Submitting a CT600 Corporation Tax Return to HMRC
Paying Corporation Tax (usually 9 months and 1 day after year-end)
Keeping accurate accounting records
Maintaining a confirmation statement (annually)
Operating payroll if paying directors/employees
Registering and reporting for VAT (if over threshold)

Missing deadlines can result in penalties and damage your company’s reputation. We ensure everything is handled on time.

Why Choose JSC Accounting?

We specialise in small company accounts, particularly for micro-entities and SMEs. Our clients include freelancers, consultants, trades, and directors across the UK who want:

Clear, compliant accounts
Efficient tax structuring
Friendly, proactive service
A 100% online accountant who understands how to save them time and money

Whether you're just starting or growing steadily, we help you:

Choose the right structure
Optimise salary/dividend planning
Keep your company lean, efficient, and HMRC-ready