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Limited Company:

The biggest advantage of the limited liability company to the majority of business people is that your personal liability is limited to the share capital you hold in the company.
Therefore your personal wealth and home are not at risk. This is because the company is a separate legal entity and it is liable for its own debts.

However, before a company has built its credit history and reputation, it is likely that you will have to act as a personal financial guarantor in any loan agreement the company needs
to enter into or on any business lease etc.

The costs of setting up a company are more or less the same as those of a partnership but the running costs can be little more. There are a number of mandatory statutory provisions that require the company to make certain decisions in certain ways and to file certain company decisions and the company’s accounts at Companies House.

In terms of tax savings, the company is a better option as opposed to sole trader or partnerships as there is no Class 2 National Insurance to pay. The company will be taxed at
corporate rates on its profits. The net profit will then either be retained in full or in part and/or paid as a dividend to the shareholders in proportion to the number and type of shares held or as directors’ remuneration.

Why us?

We are a firm of young, energetic and highly talented accountants who will listen to you and your requirements carefully. After careful listening, we will then come up with the best possible solutions to deal with your tailored needs. We have many clients in the local community and service

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