10 x ADVANTAGES of a Limited Company | Starting a Ltd Company UK

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Published at : 02 Jan 2021
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The ADVANTAGES and DISADVANTAGES of setting up a private Limited company. What are the benefits of opening an Ltd company when starting a new business and how does having a Limited company compare vs being a sole trader?

I have been running Ltd companies for over 10 years and in this video, I share with you the real-world advantages and disadvantages of Ltd companies.

Advantages of Private Limited Company:

• Limited Liability (Personal and Business Finances Separate)
• Professional Image
• Name Protection
• Potential Tax Savings
• Basic Salary + Dividends (Link to Directors Salary 2020/2021 Below)
• National Insurance Avoidance
• Pension Contributions are Tax Deductible
• Income Can Be Spread Over Multiple Years
• Easier to Sell
• Only Costs £12 - https://www.gov.uk/set-up-limited-company

Disadvantages of Private Limited Company:

• More Complex Accounting / Administration Requirements
• Higher Accountancy Costs
• Annual Accounts
• Annual Corporation Tax Return
• Annual Confirmation Statement (£13)
• Payroll and RTI
• Directors Details & Company Financials Available for Public Viewing
• Self-assessment Mandatory for Directors

How to Pay Yourself as a Ltd Company - Directors Salary 2020/2021:
https://www.youtube.com/watch?v=1NN3nbatTEo

Are you thinking about setting up an ltd business? What are you thoughts on sole trader vs limited company? Let me know in the comments!
advantages of private limited companydisadvantages of private limited companyprivate limited company advantages and disadvantages

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