Lots of us find the prospect of managing the paperwork involved in running a limited company a bit daunting... potentially off-putting.
But it needn't be that way.
A limited company business model can bring huge benefits for business owners, including...
helping to reduce personal risks (by protecting owner/shareholders' personal assets)
generally lowering tax liabilities
opening up a raft of 'force for good' tax reliefs – which often mean money coming back into the business from HMRC
increasing the efficiency of owner remuneration
enhancing financing options
making scaling up, business model pivots and recruitment far easier
If you want to take a deeper dive into the benefits listed above, take a look at Farillio's superguide: which business model is right for you?, where we explain what running a limited company involves compared to other business models.
Of course, there could, of course, be good reasons for not running your business as a limited company. In fact, for some businesses, like doctors, dentists and vets, the law may dictate what model they use – and for them, if they're teaming up with others to run their practice, their ideal vehicle’s going to be a partnership model, not a limited company.
If you're already clear that a limited company model is right for your business, let's look now at how we can make the administrative side of running a limited company a whole lot easier.
And because there's nothing like getting the real picture from the best experts, we've collaborated on this guide with some of our experienced expert partners, at the Stanley Davis Group Limited, who help tens of thousands of limited company owners manage their admin needs and obligations every year.
Allocating signing authority to someone in your business
Appointing a director (including a non-executive director)
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