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Setting up a Limited Company; is it a big deal?

Yes….it is
It gives credibility to your business idea. A company inspires confidence with suppliers, customers or lenders.
A company’s affairs are LIMITED to itself. This is because it exists as a separate legal entity to its owners (shareholders &/or directors). A limited company is an added layer of protection should things go wrong. You will not be personally held liable for any financial losses made by the company. Unless of cause in extreme cases of fraud.
 
It is tax efficient to work or do business as a limited company. Corporation tax rates are lower than income tax rates. There a wider range of tax-deductible expenditure for companies than for the self employed or people on PAYE. Directors and shareholders enjoy massive flexibilities in the way in which they remunerate themselves and pay their personal taxes.
 
There are many other examples of advantages and the above can be expanded endlessly. Just get in touch to start enjoying

Author

Fungayi Mukosera