Compamy formation - Shires accountants

We offer more then just Company Incorporation

If you are considering changing your current trading status or perhaps wanting to form a limited company for new business venture, then speaking to an accountant should be at the top of your list of “things to do”.

At Shires Accountants generally we can have your limited company incorporated and ready for business with all the required electronic forms within 24 hours.

However our company advisory services go well beyond what any internet company formation service can offer, as we are able to advise on such matters as – incorporation style i.e. (‘for-profit’) commercial company limited by shares or (‘non-profit’) company limited by guarantee or Limited liability Partnership (LLP).

Other Limited Company services we offer:

  • Re-drafting model articles of association
  • Shareholder and partnership agreements
  • Terms of business
  • Employment contracts
  • Registered office address
  • Share schemes
  • Set up a payroll
  • Register for Corp Tax, PAYE & VAT
  • Appoint directors & shareholders
  • Dormant company accounts
  • Change of Company name

We offer a free no obligation meeting or quotation and would welcome the opportunity to discuss any requirements you may have. Call us on 01270 820 273 or click to Get in touch.

Pros & Cons of trading as a limited company

PRO’S
The principal benefits for trading as a limited company are limited personal liability, tax efficiencies and perceivable status. However, there are a number of other limited company advantages as below:

  • Dividend payments
  • Limited personal liability
  • Tax efficiency and planning
  • Higher personal remuneration
  • Separate legal identity
  • Credibility and trust
  • Investment and lending opportunities
  • Protecting a company name
  • Pension payments
  • Professional status

CON’S
Limited company disadvantages – There are some less beneficial aspects associated with trading as a limited company. However, most of these perceived disadvantages are worth taking on in comparison to the potential tax savings and financial protection you will achieve.

  • Companies House charge an incorporation fee
  • Yearly confirmation statement fee payable to Companies House
  • Send a Company Tax Return and annual accounts to HMRC every year
  • Directors details held on public record
  • Basic company financial held on public record
  • Strict record keeping requirements
  • Complex accounting procedures
  • You may need an accountant to help you with your tax affair
  • Not suitable for undischarged bankrupts or disqualified directors
  • If you make any changes to your company details, you must notify Companies House immediately.

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