LIMITED COMPANY ACCOUNT SERVICE
It does not matter if you are an electrician, gas engineer, plumber, builder, freelancer, contractor, beautician, hair salon, Amazon reseller, catering company, events company, retail or wholesale business, restaurant or manufacturing company we have the limited company accountant and limited company accounting package for you from as little as £40 per month.
Limited Companies provide access to a number of tax planning strategies and limited liability status.
What is a Limited Company?
A limited company is a type of business structure that has been incorporated at Companies House as a legal ‘person’. It is completely separate from its owners, it can enter into contracts in its own name and is responsible for its own actions, finances and liabilities.
The owners of a company are protected by ‘limited liability’, which means they are only responsible for business debts up to the value of their investments or what they guarantee to the company.
A limited company must be registered at Companies House (UK registrar of companies) as ‘limited by shares’ or ‘limited by guarantee’. Limited by shares companies are owned by one or more shareholders and managed by one or more directors. Limited by guarantee companies are owned by one or more guarantors and managed by one or more directors.
The same person can be the owner and director, so you can set up a company by yourself or with other people. Get in contact today if you are looking for a Limited Company Accountants to help with your Limited Company Accounting.
Benefits of being a Limited Company
There are a number of reasons you might find it beneficial to trade through a Limited Company. The one major benefit is Limited Companies exist as an entirely separate legal entity from the business owner(s). This brings many advantages, perhaps the most important of which being limited liability. Limited liability means that the company’s assets are kept entirely separate from the business owners’ personal assets. So if the company gets into financial difficulty the business owners’ assets will be unaffected (unless personal guarantees have been signed). So if you have personal assets such as property that you wish to safeguard, then this is typically the safest option to choose.
Limited Companies also have a perceived prestige over a Sole Trader or Partnership business. Primarily this is because private and public Limited Companies are the only way that larger businesses will trade. If you are looking to seek investment for your business then a Limited Company will typically be the right option due to the share structure that a company has along with the way a company separates business assets from personal ones.
There are many other considerations to keep in mind when forming a Limited Company such as the legal responsibilities each director has, and that some information on your company will be publicly available via the Companies House website. Talk to TT Accountancy Service today to find out which option is best suited to you and your business.
Behind Every Successful Business is a Smart Accountant.
Our goal is to deliver peace of mind to every client. We take pride in our ability to take accounting and financial burdens off your plate.
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