If you’re trying to decide if the Limited company route is right for you, here are some of the benefits on offer…
Tax savings
By becoming a limited company you are more than likely going to pay less personal tax than a sole trader. By taking a small salary plus dividends from the limited company you will not be liable to NIC.
Professional
In some businesses and industries, having a limited company can provide a more professional image. If you are doing business with larger companies, you may find that they prefer to deal only with limited companies rather than sole traders or partnerships.
Limited liability
Your assets and the limited company’s assets are separate. The liability of the directors and shareholders in relation to the company is limited.
Naming
Once you register your limited company with Companies House, your company name is protected by law. No-one else can use the same name as you, or anything deemed to be too similar.
As a sole trader, it’s possible someone else could trade under the same name as you, and you couldn’t do anything about it. This could damage your business, and in some cases, result in you having to go through the costly and time-consuming effort of changing the name of your business.
Pension contributions
A limited company can fund its employees’ executive pensions as a legitimate business expense. This can offer a tax advantage over those who are running their business as self-employed.
If you want a free consultation to talk this through please contact Bright Accounting and we’ll help you make the decision that’s right for you.
If you have already decided that a Limited Company is what you want then this is what Bright Accounting can offer you:
Great value, fixed monthly fee packages
We offer a comprehensive range of packages from just £75 a month.
Dedicated Personal Accountant
Who will provide unlimited help and advice to ensure your limited company is as tax efficient and profitable as possible.
We take away the hassle
When you go Limited with Bright Accounting, we will take care of everything for you. We’ll make sure all deadlines are met and your accounts are structured compliantly and in the most tax efficient way possible. We’ll also complete all the required documentation and ensure these are filed with Companies House and HMRC.
Get in touch about setting up a Limited Company
If you would like to know more on how Bright Accounting can assist you with setting up your Limited Company then please don’t hesitate to get in touch by calling us on 07788 125066 or by using the form on the side of this page. We are based in Tonbridge, Hildenborough, Kent but can travel to any neighbouring areas for a FREE consultation with you.
We look forward to hearing from you and helping you with any Limited Company questions you may have.