Lumi Accountancy
ICAEW Chartered Accountants
Winchester · Hampshire
A Lumi Client Guide · Newly Incorporated

Congratulations — you're a limited company.
Now here's what to do next.

You've made it official at Companies House. From here, a handful of jobs in your first few weeks keep you compliant, tax-efficient and penalty-free. Here's the plain-English roadmap — no Accountant-speak.

First steps HMRC & VAT Paying yourself Key deadlines
✓ You're incorporated

The big decision is behind you. The next move is getting your foundations right — separating your money, registering for the right taxes, and putting the key dates in your diary. Miss them and HMRC and Companies House charge automatic penalties; get them right and your first year runs lean and stress-free.

Rather not juggle it yourself?

Lumi handles all of the below for newly incorporated companies from £120/month.

Book a free 30-min call →
Step by step

Your first few weeks

Four jobs to tackle now that the company exists. None are difficult on their own — the trick is doing them early, before deadlines and admin pile up.

1
Separate your money
Your company is now its own legal "person", so its money is no longer your money. Open a dedicated business bank account and run every sale and expense through it. It keeps your bookkeeping clean and protects the limited-liability separation you set the company up for in the first place.
Tip: Tide, Starling and Monzo Business open quickly and sync straight into Xero.
2
Register for the right HMRC taxes
Tell HMRC you've started trading and register for Corporation Tax within 3 months of doing business. If you'll pay yourself or anyone else a salary, also register as an employer for PAYE — before the first payday.
Deadline: Corporation Tax registration is due within 3 months of starting to trade — late notification can trigger a penalty.
3
Sort your VAT position
VAT registration becomes compulsory once turnover passes £90,000 in any rolling 12-month period. Below that it's optional — but voluntary registration can pay off if your customers are themselves VAT-registered, since you can reclaim the VAT on your own costs.
Tip: ask us whether the Flat Rate Scheme would simplify things and help your cash flow.
4
Get cloud bookkeeping going — and decide how you'll pay yourself
Set up Xero (or similar) from day one rather than a shoebox of receipts — it keeps you MTD-ready for VAT and makes year-end faster and cheaper. Then plan how you'll draw income: a modest salary topped up with dividends is usually most tax-efficient, but it needs setting up properly (PAYE, dividend vouchers, board minutes).
Tip: we'll set your optimal salary/dividend split for the 2026/27 tax year.
Easy to overlook

Don't forget these

The jobs new directors most often miss — each one carries its own deadline or legal duty.

Register with the ICO
If you hold personal data on clients, staff or suppliers — almost every business does — you must register with the Information Commissioner's Office. The data protection fee starts from £52 a year.
Put insurance in place
Professional indemnity is the key cover if you give advice or provide professional services. Employers' liability insurance is a legal requirement the moment you take on staff.
Keep records for 6 years
HMRC requires you to keep sales invoices and expense receipts for at least 6 years. Xero with a receipt-capture tool like Dext stores them automatically.
File your Confirmation Statement
Once a year you must file a Confirmation Statement at Companies House confirming your directors, shareholders and people with significant control. Your first is due 12 months after incorporation.
Diarise these now

Your key deadlines

First annual accounts
Due to Companies House 21 months after your incorporation date. After that, 9 months after each year-end.
Corporation Tax
Pay 9 months & 1 day after your year-end. File the CT600 return within 12 months of year-end.
Confirmation Statement
Annually to Companies House — first due 12 months after incorporation. Confirms directors, shareholders & PSCs.
VAT returns
If registered: due 1 month & 7 days after the end of each VAT quarter, filed digitally (MTD).
Payroll (PAYE / RTI)
If you run payroll: report to HMRC on or before each payday; pay PAYE & NIC by the 22nd of the month.
Self Assessment
As a director you'll usually file a personal tax return — online return & payment by 31 January.

Want to skip the admin entirely?

Our Lite package is built for newly incorporated companies — statutory accounts, Corporation Tax, director's payroll, Xero and email support from £120/month. Start your first year on the front foot, with a real Chartered Accountant who explains things in plain English.

Book a free 30-min call → See our packages