Do I need an accountant?

[sk08]

help please first timer here

I've had my own limited company since 2002 and I've got away without having an accountant.

Some tips...

If (like me) you have a day job, get the tax office to close your payroll account.

You don't need to register for VAT unless you have quite a big income (or you have lots of expenses which you can reclaim against VAT)

Take revenue from the company as dividends.

Don't forget to do company house annual filings. Companies house aren't too fussy about your accounts, but the tax office sure will be!

My hardest thing was doing the corporation tax return. Stupidly, each different tax office used to like the form done slightly differently! Fortunately, it's now much easier now it's doable online.

If your company isn't doing anything, you can make it dormant.

Hi Ya,

I think i'm in the same situation as you. got a day job not much of transaction the only transaction would be the initial set up costs and the monthly/ quarterly dividend payout. Could you tell me what is the reason of closing the payroll account ? (trying to find the easiest way for myself and get the best tax efficiency)

i don't think i need an accountant because i'm a chartered accountant any way but i'm qualified from Australia. Just came to UK 3 months ago on working holiday visa. Got a 6 months contract now just set up a limited company 2 months ago.

any advice would be much appreciated

Thanks in a million