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Thinking about starting your own business?

If you're setting up your own business for the first time, you might come across the term micro company — but what does that actually mean?

In the UK, a micro company is simply a very small limited company. To qualify, you need to meet at least two of the following:
✅Turnover of £632,000 or less
✅£316,000 or less on the balance sheet
✅10 employees or fewer

The good news is that micro companies benefit from simpler financial reporting. But there are still a few important things you’ll need to do each year, including: ➔ Keeping proper bookkeeping records
 ➔ Running payroll (if you pay yourself a salary)
 ➔ Preparing annual financial statements
 ➔ Filing a corporation tax return with HMRC
 ➔ Submitting a confirmation statement to Companies House

At Neame & Co, we help people take the stress out of getting started.

We can set up your company, get your bookkeeping systems in place, sort your payroll, and handle your accounts and tax returns — so you can focus on building your business, not worrying about paperwork.

If you’re thinking about setting up on your own, or you’ve recently taken the leap, feel free to get in touch.

We specialise in supporting micro companies — giving you clear, practical advice from day one.