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What are the advantages of a Limited company?

05/03/18 | Advice & Guidance, Limited Company

Are you looking at starting a Limited Company? Maybe you have already started the process but are unsure on how it could benefit you? Sidekick can offer you support in setting up and understanding how to make your Limited Company work best for you.

Our top reasons why we feel a Limited Company is best:

Higher take home pay –  By working through your own limited company, you’ll typically take home around 75-80% of your income. A Limited Company is the most efficient way to be paid in most circumstances.

Claim on a wider range of expenses – Anything that is purely a business cost can be claimed back on expenses. Trading through a Limited company means you can claim on a wider range of expenses such as accountancy fees, equipment, software, phones, travel, Internet and much more. These expenses are all reclaimed tax and NI free.

Personal assets are covered – As a non-limited business, personal assets can be at risk if the business fails, but this is not the case for a limited company. As the shareholder you won’t be held personally liable for the debts of a limited company, meaning your personal assets are not at risk.

Ease of use – Running your own limited company isn’t as daunting as it seems. Your Sidekick will help manage your finances using the latest technology which makes everything a whole lot easier!

Pay less tax – Working through your own limited company is more financially rewarding. There is a greater opportunity for tax planning allowing you increase your take-home pay!

Credibility – Operating as a limited company often gives suppliers and customers a sense of confidence in a business and quite often other companies prefer not to deal with non-limited businesses.

For more information on Limited Companies visit here  or to get started with our Limited Company package you can SIGN UP here.

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