FAQs
To set up a limited company in the UK we simply need the following information:
- The proposed company name
- The business address,
- The details and address of all the directors
- Total number of the shareholders
- Details of shareholders
- And we will form the company on the same day!
The advantage of a limited company is that it is legally separate from the people who own it. Any shareholders of the company are then not personally liable, so they are not risking any of their personal assets if the company was to get into debt or face liquidation
For more information, please do get in touch.
All limited companies are required is to keep full detailed records of the following information along with the supporting paper-work:
- Income
- Expenditure
- Liabilities
- Assets.
These will give us the details they need when preparing the company annual accounts.
For more information, please do get in touch.
Some of the advantages include:
- Simpler structure
- Low cost set up compared to other structures
- Easy to set up and manage for smaller business owners
- Possibly eligible for small business tax concessions.
- 100% control of your business affairs
There are certain disadvantages as well.
For more information, please do get in touch.
As a self-employed person you will be paid the full invoice amount without any tax being deducted. It would be wise to put money aside to cover your tax bill when it becomes due.
For more information, please do get in touch.
The advantage of running a business through a limited company is that you can pay yourself in the form of dividends which are not liable for either employee or employer’s national insurance contributions.
For more information, please do get in touch.
Yes, if you are self-employed you are responsible for payment of national insurance contributions on earnings above a certain profit threshold. This threshold is quite low.
