You’re starting as a sole trader, limited company or perhaps a limited liability partnership (LLP). Whatever your vehicle or industry we're here to help you.
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What Type Of New Start Up Are You?
Limited Company (LTD Co) by Shares
This is a Limited Company that is owned by shareholders (can be one or multiple). It is a separate legal entity to all shareholders and affords them ‘Limited Liability’. In the event things go wrong, shareholders are only liable to the extent of their investment in the company.
Limited Liability Partnership (LLP)
A Limited Liability Partnership acts like a hybrid between a conventional Limited Company and a traditional partnership. An LLP can have multiple partners, all of whom have limited liability to the extent of their investment in the LLP and are not liable for fellow partners misconduct or negligence
A sole trader you set up and run your business as an individual. You are your business are considered ‘one of the same’ and in taxation terms, you are self-employed. Unlike a limited company there is limited liability in the event your business becomes insolvent or bankrupt. The taxes you pay on profits are income tax and class 2 & 4 national insurance.
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What Industry Or Trade Are You In?
Starting a new limited company, whether it be limited by shares, guarantee or an LLP is just part of the equation.
Getting a business started, set-up, trading so it’s earning revenue and to ‘first base’ is your main priority.
Without paying clients/customers you don’t really have a business.
Your business could be e-commerce, dropshipping, consultancy, engineering or any industry/profession.
So if you’re looking to partner with an accountant & tax provider who understands the commercial side of your business as well as the numbers and compliance, go ahead a book a discovery call.
Here’s what our clients say
FAQ's On Starting A Limited Company
A question that often leaves new entrepreneurs in a vacuum of confusion. What you need to do here is make an ‘informed’ decision based on your circumstances, objectives and milestones.
So in order to help you make an informed decision, watch these videos (total length of 20 minutes) before you take any action:
Sole Trader or Limited Co – 5 Pros and Cons of each
Limited Liability Partnerships – How it works
If you’ve already commenced trading as a sole trader, then that’s fine. Your business can be converted into a Limited Company if the benefits outweigh the costs.
Starting a limited company requires it to be legally formed. It is quite a straightforward process and you can have a new limited company within 24 hours.
Similar to starting a limited company, an LLP is fairly straightforward to form. Book a discovery call with us and we’d be happy to do this for you.
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Take the first step to financial freedom today by booking your discovery call