Limited Company Advantages

There are a number of advantages in becoming a limited company, such as :-

• You can give a share of the business to others eg family.
• It may be easier to attract people to invest money in your business.
• Obtaining bank loans may be easier.
• There is no higher rate tax bands.
• In the event of a partner leaving or somebody dying it is easier to continue the business.
• It is easier to sell the business.
• You have better standing in the public eye.
• It can assist in the protection of a name.
• People have more confidence in your business as they can check up on your company on the public records at Companies House.
• Subcontractors and agency workers will find it easier to obtain work.

The main disadvantages of becoming a limited company are the extra costs of preparing of annual accounts and some loss of financial privacy.

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