There are many big advantages attached to operating as a limited company. Many sole traders switch their status to that of a limited company to reduce their tax liabilities and gain extra credibility. At One Click, we are eager to come to your assistance if you are considering setting yourself up as a limited company.
Should you become a limited company?
We have helped a wide range of businesses to become limited companies. We will conduct an in-depth discussion with you to find out whether becoming a limited company is the best option for your specific circumstances and will provide all the support you need if you decide to go ahead. You can count on us to help with tax planning, helping you increase your take-home pay and provide you with ongoing support to help you prosper. We offer a highly competitive fee for this service, working hard on various tax and accountancy-related matters in the background so you can focus on running your business.
Valuable tax savings
We are here to help you choose the right business structure and heighten your tax savings. One of the key benefits of becoming a limited company is that your company’s finances will be separate from your personal ones. This is why so many sole traders opt to transform their enterprises into limited companies. You won’t be responsible for your business’ debts, although you may need to provide loan guarantees if your business does borrow money.
Registering a limited company
We will also help you register with Companies House – this is one of the key steps of turning your business into a limited company. This can be completed in a matter of hours, and we can help you gather together all the crucial documents you need to make this happen. These include your Memorandum of Association, Articles of Association and Form IN01. Your limited company must have a minimum of one director. We can help you decide whether to become a limited liability company or a public limited company. With the latter option, you are able to offer shares to the public to raise capital, but you will need at least two directors as well as a company secretary.
Limited companies have more paperwork to deal with than sole traders, though we can complete and deal with much of this on your behalf. You will need to file annual accounts and make a Confirmation Statement each year. You will also need to ensure any employees are paying income tax and National Insurance on their income and will need to complete a Corporation Tax return each year. Many companies are able to pay less tax than a sole trader would on the same income.
Contact us today
Get in touch with One Click Accountant if you are interested in becoming a limited company. We are eager to hear from you if you are looking for a limited company accountant and can provide services of the finest calibre. Find out more today.