UK Ltd company taxes

[galadrel]

I've incorporated a few days ago, what is the best way of dealing with taxes (like if you're a freelancer do you manage them yourself), how do you take money out of the business bank account etc?

 

[Sols]

If you're not comfortable doing the accounting yourself, hire an accountant to do it for you, especially if you need to worry about VAT.

There is software you can use to help you with the accounting but at least when it comes to doing the actual submissions and tax payments, hiring an accountant is recommended. It's what most people do.

 

[dirtyharry]

You can ask your agent that helped you to register the company in the UK to help you with taxes or he can refer you to a tax accountant.

 

[polonieth]

Where are you based? That will impact on how you draw a salary/dividend etc.

 

[Morrad]

This would be interesting to know something about. Would be pretty good to know if there's a guide somewhere to submit taxes for UK based companies.

 

[Martin Everson]

I would 100% use a tax preparer as HMRC will come after you eventually. I gave a breakdown in the Mentor Group on how to do it all in the most tax efficient way if you are resident in the UK. Otherwise if your not resident in UK then its even much simpler.

https://www.offshorecorptalk.com/threads/best-tax-strategy.29734/post-135981

 

[galadrel]

Where are you based? That will impact on how you draw a salary/dividend etc.

Serbia, but what I'm mainly concerned about and what troubles me is what I have to file etc

 

[polonieth]

Serbia, but what I'm mainly concerned about and what troubles me is what I have to file etc

Someone who specialises in this area will confirm but I think running a UK ltd as a Serbian, while living in Serbia with no ties to the UK would make it a non resident company so the taxes are handled by Serbia.