Ltd Company Accounts

Why be a Limited Company instead of a Sole Trader?

A limited company protects your personal assets.  This goes for any business that you start there is always an element of risk involved in terms of personal loss.  Having a limited company can protect your personal assets e.g. your home.  The only disadvantage compared to sole trader are the company set up costs and 3 annual returns compared to the 1 annual return for sole traders.

Limited Companies would be required to complete a yearly Coporation Tax Return, a Company House Annual Return and an annual Company Return. If you do not comply with the deadlines for submitting these returns you will be subject to penalties.

I used Zen Consultants whilst working as a Child Carer. As this was my first time being self employed, I was clueless about how to manage my accounts, but after a quick consultation with Saj I had all the information I needed to keep up to date. I have since recommended Zen to a few friends and members of family as the service I received has been fantastic.

Lauren Downie - Child Carer

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