Ready to Launch a Limited Company?
Posted on 2nd December 2021 at 11:15
Whether you’re just about to enter self-employment or ready to upgrade from a sole trader into a more official business format, we’re here to help you launch a limited company in a fast and stress-free way.
Why set up a limited company?
There are multiple benefits that come with company status, such as:
Any debts or legal action are limited to the company, rather than the individual. This offers the business owner a level of protection that being a sole trader simply can’t provide. For example, if the business is forced to close due to insolvency, limited company status will in the vast majority of cases prevent you personally from becoming bankrupt.
Hiring staff is easier through a limited company, as you can pay wages through the Pay As Your Earn scheme, often referred to as PAYE.
A limited company can actually save you money, as corporation tax is lower than the rate of income tax that a sole trader has to pay. You can also claim multiple expenses more easily through a company, which can significantly benefit your cash flow.
Limited companies have more prestige than individuals working as sole traders. Even if you’re the only member of staff, your limited company will appear more attractive to large businesses and organisations looking for a reliable provider of goods and services.
How we can help
The team of accountancy, tax, payroll, credit control and business advisory specialists here at TreyBridge can take all kinds of time-consuming jobs off your plate. We can register your new limited company with HMRC and Companies House, manage your tax returns (self-assessment and corporation tax), register you for VAT if your company exceeds £85,000 turnover a year, and guide you in many other core areas to ensure clarity, consistency, compliance and ongoing business growth.
Need some advice?
If you’re ready to launch a limited company, please get in touch with our team of business advisors on 01482 235575 or fill in the contact form below.
Tagged as: Business growth
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