Coddan as your tax agent and VAT agent for a company limited by guarantee: when operating with a nonprofit business in the UK you will need to ensure that, you pay both tax and VAT accurately and on time. It is very important to ensure that somebody who knows what they are doing, as you have a legal obligation to fulfil these requirements exactly, manages your tax and VAT affairs. If you pay too little, or fill in a form incorrectly, the consequences can be very serious. By hiring professionals to take care of your tax and VAT, you can give yourself the peace of mind that everything is being done punctually, and by the book.
When you register a company limited by guarantee in the UK you will be expected to pay a certain amount of the company's profits in taxes. There are a number of different kinds of taxes in the UK, but most companies will have to pay corporate tax and VAT. You will fall into a particular bracket for corporate tax depending on how much your company makes, and this will affect how much corporate tax you will be expected to pay each financial year.
VAT or value added tax is a tax added to some goods and services in the UK, which all traders must register for if they make taxable supplied beyond a set limit. You may have to pay VAT in addition to corporate tax, and this will need to be declared on your annual returns.
If you want to ensure that you are correctly registered for VAT and that all the VAT you owe is paid correctly, then you can hire us, Coddan Formations Agency, to do your annual bookkeeping and accounting. We can file your annual tax returns, which will cover both VAT and regular tax. We will be your tax and VAT agent, which means that you can count on us to take care of your company's tax and VAT matters while you deal with more important things. Our services are competitively priced, and we place a high value on customer service - we're always on the other end of a telephone.