Many small business partnerships don’t realise the benefits that becoming a recognised Limited company could have for them – especially in the economic downturn. Credibility, limited liability, and lower taxes to pay are just some of the outright benefits that becoming ‘Limited’ can have for you if you are currently operating as self-employed or as part of a partnership.
However, many people will initially dismiss the idea of becoming ‘Limited’ due to the fact that there is inherent money to spend in order to get a company registered with Companies House.
To make the benefits clearer, compiled below is a list of potential advantages that becoming ‘Limited’ could have for you:
– You will avoid the risk of becoming liable for any financial issues
– Any tax bills will be significantly reduced
– The word ‘Limited’ resonates an air of prestige that will stand out against other businesses
– Your company’s name will be registered in the company index, which means that it cannot be replicated and used by another company
– Profits can be taken out as dividends, which will reduce liability to pay NICs
– Company ownership is more defined, so it is clearer to see which shareholders are entitled to specific amounts of profit
At UK Company Registrations, we are company registration agents dedicated to providing budding businesses with everything they could possibly need – all in a simple package of your choice – to become ‘Limited’.
You have more chance of becoming recognised for your professionalism as a company if you undergo professional company formation, and can soon be on your way to reaping all the benefits that becoming ‘Limited’ has to offer.
