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What is a Limited Company? |
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Business Formation
Sole Trader
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Limited Company
Limited Liability Partnership
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There are a number of benefits from forming a limited company.
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From potential tax savings, being able to invite investors to put their cash into your business to making sure that any financial liability stays with the company and and not with you. This gives you some comfort that if it does all go wrong, your assets (your house for example) are relatively safe.
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The laws governing limited companies are much stricter and the company can get fined for not submitting accounts on time. In additon, if you get it really wrong, you could be banned from running a company for years.
If you were confident that you wanted to go down the Ltd. company route, you can view the documentation at the
Clickdocs website, where you can also find lots of other useful documents to download.
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What are you good at?
I think we all place little value on our time. We'd rather battle for hours with some difficult task we have little knowledge of to save a few pounds and the result is never as good as we'd hope. I like to think that I'm good at what I do, so I have no problem in paying for an accountant to help me decide what's best for me and my business. I have to say that my accountant is very good at saving me money and one small change saves my business thousands of pounds every single year.
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