Limited Company Accountants

Spotlight accounting is a modern firm of chartered accountants based in Shropshire but serving limited companies all over the UK. We work with owner managed businesses using cutting edge technology, whilst supporting them to help their business grow.

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Chartered Accountants for Limited Companies in Shropshire and the UK

Starting a new business or expanding an existing business in not an easy task, which is why we are here to work with business owners to gain an understanding of what they are looking to achieve and supporting them on their journey to success.

Our limited company accounting services

We provide a range of limited company accountancy services including:

Payroll for limited companies
Company formation
Company secretarial
Bookkeeping service
Xero Cloud Accounting
Corporation Tax
Annual accounts
VAT
Management Accounts
Business plans
Cash flow forecasts
Directors tax returns

Our specialist limited company accountants work with our clients to build a package of services around their individual needs.

Contact us today for a free initial consultation and quote. Complete our website contact form or call us on: 01952 462693

What is a limited company?

A limited company is a form of business that is a separate legal entity to its shareholders (owners) and directors (managers).

In effect it has a separate birth certificate to its owners. The term ‘limited’ comes from the fact that shareholders are only liable up to the amount of the share capital they have invested in the business, or any guarantees that they have entered into.

The directors (who are normally the shareholders in an SME) are responsible for the day to day running of the company on behalf of the shareholders.

Directors are required to submit yearly to companies house annual accounts and a confirmation statement. They are also required to submit annual accounts and a corporation tax return to HMRC.

Limited company accounts have to be prepared in accordance with the Companies Act and are often referred to as ‘statutory accounts’.

What records does a limited company need to keep?

Both company (statutory books) and accounting records must be kept. Company directors are required by law to maintain these records, and although they can use an accountant to write up and maintain these records, the overall responsibility lies with the directors .

The statutory books include details of directors, shareholders, share transactions, share certificates and charges, as well as minutes held by the directors.

Writing up and recording the statutory books is often referred to as secretarial services. Larger companies often have a company secretary that maintains the company records but smaller companies often use their accountant to carry out this essential task.

Accounting records that a business needs to maintain are records detailing all business transactions. These include:

Goods and services brought and sold
Money spent and received in the bank account
Assets that the business owns such as computer equipment and vehicles
Money that the business is owed such as outstanding sales invoices
Money that the business owes such as business expenses not paid for loans and payroll and corporate taxes due

Businesses also need to keep a record of the stock the business has at the end of the financial year.

The process of writing up these records is often referred to as bookkeeping.

If the business is VAT registered, then under MTD (Making Tax Digital), HMRC requires businesses accounting records to be submitted digitally.

Normally this is through using online accounting software such as Xero (internal link here). This cloud based accounting software can also automate a lot of the bookkeeping function such as importing bank statements rather than having to manually input them, saving valuable time.

Types of limited company formations:

Private limited by shares (LTD): Typically small and medium sized businesses with owners and directors being the same individuals.
Private limited by guarantee (LTD): Suitable for non-for profit organisations like charities, clubs and associations.
Limited liability partnership (LLP): Partnerships that are treated as a separate legal entity.
Public limited company (PLC): These are normally large businesses that are owned by the public and run by company directors on the shareholders behalf. Shares can be purchased and sold on a registered stock exchange.
Private unlimited company: A company where there is no restriction on the liability of the shareholders.
Small limited company: This is typically a company limited by shares and made up of one individual. This means that the company director and shareholder are the same person.

Most small companies opt to form a private limited by shares company, with up to four directors and shareholders.

Contact Us

Complete our contact form and Carrie or a member of our accounting team will contact you quickly:

Client Reviews

Please take a moment to read our reviews from our many satisfied accounting clients.

"Carrie always does an amazing job. We completely trust her and would highly recommend her."

"As a business owner Carrie has made my life so easy. I often find when you work with accountants or technical people, they talk at you, in their own language and seem shocked when you don’t understand! Carrie explains things in plain English making it easy to understand what needs to be done and why. I can not recommend her highly enough."

"Carrie & Team go above and beyond, it was something I needed sorting and they took away the stress and delivered a great service they were recommended and I’m so happy I used them. I can’t wait to grow my business with an accounts team that go that extra mile that make the service feel really personable…. "

"I have been a client of Carrie’s for several years now and have received excellent service. Advice on both personal and business taxation matters is always pro-active so there is time to implement it. Carrie and her team are also readily available to answer any queries regarding accounting software or dealing with HMRC.Highly recommended as an efficient and responsive accountant."

"Carrie's help has been really valuable in helping me to navigate the tax and accountancy issues of a sole trader business. She's right at the cutting edge of helping her clients deal with 'making tax digital' and her service is always friendly, helpful and responsive. "

"Carrie was invaluable in the process of starting up my business. I will always recommend Carrie to anybody needing assistance with their accounts, and her knowledge and expertise in making a business thrive really are second to none."

Google Rating

5.0

Based on 36 reviews

Spotlight Accounting Limited

5.0

Zac W.

Great experience from spotlight, Emma and Carrie have been so helpful and informative. Would highly recommend and will continue to use them for all accountancy needs

Dave L.

The covid pandemic put an end to my business...my accountants decided not to continue processing my accounts which left me in the middle of a financial nightmare....HMRC were breathing very heavily down my neck...what to do????? Purely by chance I overheard a conversation that mentioned SPOTLIGHT ACCOUNTING in Shifnal...and even though the story being relayed seemed too good to be true, I had to do something, and fast. So I figured, nothing chanced, nothing gained, and I gave them a call. I was duly invited to a meeting with Carrie Stokes, a lovely lady, who calmly and patiently listened to my situation, and began putting measures in place to bring everything back on to an even keel. She liased with my previous accountants, and retrieved all the relevant info for HMRC. She kept me updated regularly via email, and all of my financial issues were dealt with collectively. Carrie basically "broad sworded" the whole issue and dealt with it, without clouding the issue for me with legal narratives and jargon. I cannot express how relieved I am to have found SPOTLIGHT ACCOUNTING, and Carrie. The HMRC are happy(or as happy as they can be!) and my head has stopped spinning. I would thoroughly recommend SPOTLIGHT ACCOUNTING LIMITED. Professional to the extreme, knowledgeable, courteous, and patiently understanding. They are also very fair with their costings. Mine was an emergency situation, and an unscrupulous company could well have fleeced me, but Carrie and the team kept it all very real. They go more than the extra mile, and I couldn't be happier. If you need the services of an exception accountant, go to SPOTLIGHT, you won't be disappointed.

Heather C.

The team at Spotlight have been superb. Supportive. Responsive. Informative. As a small business owner I have really valued the support to scale and grow the business, their prompt disbursement of information during the pandemic and top tips for using xero!

Amanda H.

Fantastic.. Really helpful and gave me a lot of good advice. Highly recommend!

tom A.

A fantastic Accountancy Team with superb knowledge and customer service. Carrie and the Spotlight Team have been fundamental in helping my business develop and grow over the last 5 years. There advice and support is second to none.

Craig H.

Excellent team. Always listen to our needs and give great advice.

Natalie W.

Carrie has been our accountant for over ten years and we highly recommend her and her team. She has played fundamental part in the successful growth of our company with her professional advice.

Shifnal Plant L.

Lee H.

I always receive a fantastic service no matter who i speak to at Spotlight but on this occasion it was with Jim.He was very friendly and supportive when I called. Always happy to help with problems & questions and willing to take the time to explain exactly.Plus he always adds value to every meeting. Recommended highly

Russell C.

Very professional and friendly service, highly recommended.

Anthony W.

I have been advised by Spotlight and Carrie on a number of occasions in recent years whilst working as an expat away from the UK. The advice I have received relating to tax and recently when purchasing a new home have been invaluable. I find Carrie really easy to do business with and extremely down to earth.

Rachael T.

Can’t thank Emma and Carrie enough for their help with our first tax year! They guided us through the process and explained everything so easily. They took the stress out of it all. Highly recommend and we’ll continue to work with them.

Al R.

Carrie and the team are so friendly and proactive as my accountants for my business and my personal tax preparation and would highly recommend for all your business needs.

Stephen S.

What really distinguishes Spotlight is that the team proactively look for ways to save their clients money and add value, beyond the client’s instructions and expectations. This is professional service with a personal touch. The service is very responsive and delivers great quality at good value.

Mark S.

Carrie, Jim and the team are so friendly and forward-thinking as my accountants for my business and my personal tax preparation and with their assistance, we have been able to make a successful claim for research and development tax credits, and would highly recommend working with Spotlight!

Leo R.

I love speaking with Carrie and the team, becuase everytime I do, they save me money!!!

07890213175

Great working with everyone at spotlight. It takes out all of the hassle and worry regarding my accounts and getting things right first time!!!

Matt L.

For several years I worked with two different accountancy firms that delivered a ‘standardised’ service for firms like my own. I never met any of their staff in person and felt more like a customer number than a customer. I had little confidence that they would be proactive in giving me advice to enhance my business or to minimise my tax liabilities. I switched to Carrie and the team at Spotlight mid-way through 2019 and have been a great deal happier since then. Although I pay a little more, I believe that this has been more than offset by the professional advice that I have received and have more confidence that Spotlight has a genuine interest in me and my business. The team are friendly and quick to respond to enquiries and I would be happy to commend their service.

Ella O.

Luke B.

Carrie at Spotlight Accounting Limited is a brilliant accountant! Reliable and professional business.

Adam H.

There's not many words to say about Spotlight accounting, professional, helpful, great advise and support. Carrie has a great professional nature and will always assist at short notice. Definitely recommend 100%.

Kevin O.

Fantastic service. Always a friendly and supportive voice when you call them and always a prompt resolution to problems. And they take the time to explain exactly what they've done in lay terms, meaning you don't need a qualification in accountancy to understand them. If you're looking for an accountant Spotlight are absolutely first rate.

Jay H.

I've been with Spotlight Accounting for years now and they've been great to us. They're always responsive with great advise and always happy to help.It doesn't matter how big or small you are the team are always happy to help. Special thanks to Carrie and Claire for all the help and support over the years.I would recommend Spotlight to anyone who is looking for anything but your old fashion accountants.

Tim P.

I have dealt with Carrie and her team for a number of years. Excellent knowledge and advice, which is always explained in a manor that is easy to understand.Would recommend to anybody who is looking for a friendly, reliable and knowledgable service, look no further.

James P.

Recent multi family grievances left us worried about tax implications and how to structure our affairs.With the help of Carrie, Jim and the team, we have made significant improvements and now have peace of mind.I can't thank them enough for helping us with this confusing and time sensitive problem.They are highly recommended by me and my family.

Steven O.

Carrie, Jim and the team are so thorough, friendly, forward-looking and strategic as my financial partners for my business and my personal accounting and tax preparation. I'm delighted to work with Spotlight!

Gareth B.

Carrie and her dedicated team are always ready to answer any questions/queries on what can be a very complicated issue, TAX..I wouldn't hesitate to recommend any self employed person to get in contact and see what they can offer their business.

Amanda H.

Carrie and her team provide my business with the latest information and business systems. Having this reassurance and knowing that the team at spotlight have got your back is priceless.I highly recommend Spotlights services

Andrew P.

I've had a few accountants in the many years I've been trading, and I have to say Carrie and her team are the best.She is thorough and on top of her game. She provides advice when appropriate. She helped me through a VAT investigation and made it pain-free.The IT systems that she uses makes it easier to send and share documents too. I strongly recommend Spotlight Accounting!

Sharon B.

I have always received excellent friendly service from Spotlight accounting. Always very quick at responding to queries. i would have no hesitation in recommending them to my friends and colleagues.

Peter E.

I first approached Carrie for help about 8 months ago to set up a Limited Company for one of my sons businesses as well as numerous questions on his other sole trader business. She couldn't have been more helpful and informative.Since then, being new to limited companies, Xero and Dext, there have been numerous queries along the way, but nothing has been too much trouble. I mainly speak to Emma, who is fantastic, as is Claire on payroll, but at some point I have dealt with every member of the team and the service and friendliness of all is first class and they are a credit to the business.Carrie and her team are a delight to work with and I can highly recommended them.

Laura D.

I honestly can’t say enough great things about Carrie and her team 🙌 I can genuinely say had I not found Carrie my business and I know it sounds dramatic my life would not be the same! Carrie assessed my business model with me and pointed things out to me that I was completely blind to (she says it’s because I’m a nice person) I’d say I’m mad! She’s managed to get a total notebook and pen technophobe onto xero and Dext, again life changing. Her fees are totally transparent and manageable, no more nasty shocks at year end. When I call no problem is too much effort or trouble and I feel like they all genuinely care and support my business, they feel like an extension of my business a true partnership that I am so very grateful for ☺️ I’ve recommended Carrie to everyone I know, not your typical accountant at all!

Karl B.

We started using Carrie and the team at Spotlight towards the end of last year. It's been a breath of fresh air! We needed an accounts team that is on the same page, shares the same values and will help us continue to grow. It's been one of the best decisions we've made.Sometimes you come across companies that go the extra mile, this is one of them. We're very pleased and I can highly recommend Spotlight Accounting to anyone who is looking for a great accounts team and peace of mind.

Mark S.

Carrie and her team have looked after with regards to submitting accounts, setting yo companies and closing companies. They always act professionally and are readily available for advice and recommendations. I was very happy with the service provided and would strongly recommend.

Maribel P.

Carrie has been my accountant since I've started the business in 2012. She's very knowledgable, patient and always takes the time to listen to my concerns. I highly recommend her and her team.

Laura A.

Carrie and her team offer an excellent, professional, highly knowledgeable, friendly and approachable service. I have been using Carrie's accountancy services for over 10 years and she has always been exceptionally responsive to any queries and quick to advise on any matters where I have been unsure. Highly recommended for all type of business.

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Frequently Asked Limited Company Accounting Questions

Can an accountant set up a limited company?

In a nutshell yes, we recommend that a limited company is set up by an accountancy firm, as this will ensure that all it is correctly registered with HMRC and Companies House.

Using Spotlights incorporation service, ensures that all the records and shareholdings are registered correctly.

Why should I become a limited company?

There are many reasons why you might choose to become a limited company, but below are the our top 6:

Tax Efficiency - in most cases small business's trading through a limited company pay less tax.
Separate entity - there will be a clear distinction between you and your business.
Limited liability - as a shareholder, you will only be liable up to the amount you have invested in share capital and any personal guarantees you have entered into. Therefore, it protects your personal assets.
Prestige - some larger businesses insist on only dealing with limited companies, as they can be deemed to be more professional.
Share structure - shareholdings can be structured to save both you and your family tax.
Succession planning - limited companies offer a more flexible solution for planning the future succession of your business, including offering key employees ownership.

What tax does a limited company pay?

The company pays corporation tax which is currently 19% of the taxable profits.

The tax liability is due to HMRC before 9 months and a day after its financial year end. A company tax return with the accounts has to be submitted to HMRC within 12 months of the year end.

As a shareholder, income will be extracted from the business through salary and dividend. Your salary will be processed through a payroll. However, personal tax will be due on dividends drawn out of the business.

Is a limited company the most tax efficient way for my business?

In the majority of cases yes, however it is always best to talk to an accountant about your business and your future plans to make sure that you are trading through the right vehicle for your business.

Do I need to use an accountant for my limited company?

Legally you do not need to use an accountant to run your limited company, however, from a practical point of view you will need specialist software to submit your tax return.

UK tax legislation is very complicated, so by using an accountant that is a member of a chartered association you are paying for their expertise and knowledge that will ultimately save you tax.

Does my limited company have to be registered at my home address?

No, a registered office for your limited company can be any address. At Spotlight Accounting we recommend using your accountants address as this way any Companies House or HMRC correspondence will come directly to your accountant, giving you on less thing to think about.

Can I do my own bookkeeping?

Yes you can of course do your own bookkeeping, however the question we always pose is "can your time be utilised more effectively elsewhere?".

By outsourcing your bookkeeping will not only save you time, but it will clear headspace so you can focus on running your business efficiently.

Why choose Spotlight Accounting services for your limited company?

When it comes to choosing a limited company accountant, you need to ensure that they offer a reliable service. After all, a good accountant should become an extended part of your business.

Quality service

At Spotlight we pride ourselves in the service that we deliver - we want to be a strategic part of your journey to success.

Allocated dedicated accountant

All our clients are allocated a dedicated accountant to their business, which enables us to have an in depth understanding of what you are trying to achieve, so that we can help provide solutions to any growing problems encountered along the way.

Small business experts

We have a wealth of expertise and experience working with small businesses, and whilst we are a small firm ourselves, we find that this works to our advantage. As each client has their own dedicated accountant this enables us to build strong and lasting relationships.

Plus, we also have a great track record for spotting financial opportunities that other transactional limited company accountants may not.

Online accounting services

Our online accountancy services ensures that you have up to date financial information at your fingertips, and as your dedicated accountants we base all our discussion on actual financials rather than guesstimates.

Working with online accounting software enables you to have full visibility over your company accounts. It will also help save you valuable time automating manual entries as well as office space that would otherwise be taken up storing all of your paperwork.

Tax and planning advice

Not only do we look after your tax affairs but we offer tax planning advice so that you know you are in safe hands using us as your accountant.

FREE consultations

We offer a free consultation too, so that you can ensure that we are a right fit for each other. And, if you are worried about the process of switching from your current accountant then we can take care of that for you too, making it as pain free as possible.

Request A Free Consultation

If you are looking to grow your business, have a new venture in mind or have recently set up in business then get in touch today so that we can facilitate you on your journey.