There are several different kinds of limited companies available to set up in the UK. Limited companies are the second most popular business structure in the UK, only coming second to sole traders. The type of limited company structure chosen for a business will depend on various factors such as the number of shareholders, the responsibility that the shareholders have and the level of involvement by the public. Each has their own benefits, so each business will need to decide what is the most suitable structure for them.
When you are a smaller company than many that operate in your area, you want to make sure that you are still able to provide a high-quality service, without becoming overshadowed. It is not always the size of the company that matters to clients, but instead the way that business is run, and how valued an individual feels when they seek out certain goods or services. To help yourself get ahead, you want to open as many proverbial doors as possible, which can aid in both gaining customers, and help drum up repeat business.[continue reading…]
If you are thinking about setting up a limited company, you might be surprised to find out that you can incorporate a new company for only £12.99 with our partner 1st Formations. Here, we look at how incorporation costs vary according to the formations service you choose, together with additional costs you may incur.[continue reading…]
Readers questions: As a limited company, can I put garden groundworks (path and patio) through the company? I am now working from a garden office and this work would provide access.[continue reading…]
There is light at the end of the tunnel. After more than a year of turbulence, there are signs to suggest that life may soon return to normal. The Government has outlined a roadmap out of lockdown, and if the current trends are maintained, then most British adults will have received a vaccination by Summer’s end. With restrictions on socialising and non-essential retail currently set to be lifted on the 21st of June, many are already looking forward to the return of ‘normal’ activities like eating at a restaurant, going to the gym, or spending a night on the town.[continue reading…]
There is a range of expenses you can claim for whilst running your business. You will incur a wide number of limited company expenses during the course of your work, ranging from printing and postage costs to purchasing computer equipment.
As climate change becomes a growing concern across the world, eco-friendly efforts have skyrocketed. According to HSBC’s Made for the Future Report, around 50% of UK businesses plan to invest more heavily in sustainability efforts during 2021. This should help them meet new regulations, keep up with their competitors and help the government reach current net-zero carbon emission targets.[continue reading…]
Perhaps your small business has had a rocky time during the pandemic. You might have realised that you’ll need to adapt in order to thrive in a changing world.[continue reading…]
The tax on dividends is paid at a set rate that is set by the HMRC. Every new tax year, as with other taxes, the rates change. The biggest change in the last couple of years is the tax-free dividend allowance being reduced from £5,000 to £2,000.
With a new tax year come the new tax rates and allowances. Although there has not been a great significant change in the rates and allowances for 2021/22 compared to 2020/21, the government has announced that a lot of the tax rates will be frozen till 2026. This is due to the pandemic and the current state of the economy because of it.[continue reading…]
Instagram is a powerful platform for businesses to connect with customers and influencers to create empires. Over the past five years, this platform has evolved to add more features, variability, and complexity.[continue reading…]
Readers questions: What happens to the bank account when a private limited company owner dies?[continue reading…]
Whether you’re starting your business from scratch, or your established company is experiencing rapid growth, maintaining control of your finances and your business expenses isn’t easy. It’s a difficult balance that requires careful consideration and a regular cull or overhaul of your biggest costs. It’s also important that any cuts you do make, don’t have a detrimental impact on your services.[continue reading…]
There are no limitations on how anyone can become a great entrepreneur. To start something that might become the next big success, you don’t need a college degree, a lot of money in the bank, or even business experience. Europe is a context of enormous potential. There are so many reasons why starting up a business in Europe is a good step, from the opportunity to extend your business to new areas of the world to low corporate tax ties. Thanks to new entrepreneurial ideas, profits can be made in Europe.[continue reading…]
As a limited company director, if you’re at the crossroads of determining the future of your business and wish to settle on a suitable exit route, there are multiple factors to take into consideration. If you wish to facilitate a time-sensitive exit, the estimated length of the process will influence your decision. If you would like to generate maximum returns from your investment, you may spend longer on the process to achieve this.[continue reading…]
A new survey of the UK’s SME workforce shows just what employees want from their employers.[continue reading…]
As anticipated, Rishi Sunak’s budget on 3 March 2021 was focused on protecting jobs and livelihoods, with a focus on extending and opening further access to COVID-19 support measures. This was a required move by the Government, particularly with lockdown restrictions prevailing until 21 June at the earliest.[continue reading…]
There are numerous reasons you may wish to close your limited company, from approaching retirement, switching operating structures due to IR35 reform or as your business has reached its natural end. Driving factors behind operating through a limited company may be the financial set-up and the associated credibility, however, as legislative measures change and employment opportunities vary, limited company contractors may switch structures.[continue reading…]
Franchising is a great way to become an owner of a small business. There are three different types of franchises which you can choose from, they vary in terms of your position, your input into the business and the amount of involvement of the franchisor. The three types of franchises are; the business format franchise, product distribution franchise and management franchise. Each franchise operates differently and in this guide you will find the differences between the three.