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Limited Companies are only taxed on their profits

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Complex Accounts– There are more complex and restrictive rules governing the accounts and bookkeeping of Limited Companies than sole traders (for example). The Company is expected to produce years accounts incorporating a double entry format, balance sheets and other notes. With the (generally) larger nature of a Limited Companies business this can be a time consuming and costly undertaking. The Company Warehouse’s accountancy service is custom made to ease the burden on Limited Companies. Our low-cost, competitively priced service will take hold of the accounting reigns and allow you to remain free to concentrate on the running of the business.

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Cost – Some people will have you believe that a Limited Company is expensive to set-up. Not so! Our Company Formation packages start from as little as FREE! And include many related services and products that would cost you highly elsewhere.

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Disadvantages of operating as a limited company: Must incorporate the company with Companies House.

Generally there are more costs to set up. One cannot be a director of a company if he is disqualified director or un-discharged bankrupt.

There are certain restrictions with regard to the company name.

The information relating to the owner of the company and the company are displayed on public record. There are more complex, time consuming accounting and administration requirements.

The accountancy costs are more expensive. A professional accountant might be required. Withdrawal of money form companies can be difficult.

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A Limited Company is more expensive to set up than a sole trader or partnership.

Private Limited Companies pay annual fees and have periodic filing obligations.

Owners of the limited companies have less personal control over the company compared to sole traders due to compliance issues.

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Limited Companies are only taxed on their profits

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The advantages of a private limited company include:

A Private Limited Company is a legal entity

Added credibility for Private Limited Companies

Private Limited Companies have a reliable legal precedent

Private Limited Companies have an unlimited life

Ltd companies’ may bring additional taxes benefits, and are subject to lower corporation tax

Private Limited Company structure is suitable for profit or non-profit use

some business examples of a private limited company are any local solicitors.

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Private Limited Companies must hold annual meetings and the shareholder and directors have specific formalities to observe.

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Advantage;                 The obvious advantage of a Limited Liability Company is the financial security. The Company’s shareholders will only be responsible for any debt the company builds up. This can provide a comfortable feeling of security for investors in the Company.

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Advantage;                 The obvious advantage of a Limited Liability Company is the financial security. The Company’s shareholders will only be responsible for any debt the company builds up. This can provide a comfortable feeling of security for investors in the Company.