Limited Liability Companies
Limited companies are one of the most common types of trading options for businesses of all sizes. If you are planning to start a business, it might be the right option for you. You may be a sole trader and considering switching to a limited company. But whatever your situation, we can help you with all of your accounting and tax arrangements. Why Choose a Limited Company? There are several reasons to choose a limited company for your structure, but it all depends on your business. One of the main benefits is that a limited company can seem more professional than a sole trader, which can help you to win more contracts. Some clients will only work with limited companies, so this can be an advantage for you. In addition, you are not personally liable for your company. A limited company is a legal entity that is separate from its owners, and the liabilities of the company are its responsibility and not yours. This provides you with protection for your personal assets like your home. Having a limited company can also help to achieve investment because you may seem more secure for investors compared to being a sole trader. And it can also be more tax-efficient because dividends do not attract National Insurance and you may be able to take advantage of lower tax rates. There are some disadvantages, however. For example, you will lose some privacy compared to being a sole trader because the personal details of the director and shareholders are public. It also costs more to set up the company as well as preparing company accounts and tax returns. How We Can Help Whether you are planning to start a business or you already run a business, we can help to provide guidance and advice so you can make the right decisions regarding limited liability companies. We can also help with many of the day-to-day concerns including Self Assessment, VAT, running a tax-efficient company, payroll, PAYE and more. Contact Us We would be happy to help you with all of your questions and concerns surrounding limited liability companies. Contact us today to speak to one of our experts.