In the current tax environment, a limited company is probably the most popular form of business entity in existence in the UK, for anything but the very smallest of businesses.
A limited company structure can be suitable for most sizes of business, ranging from the small to very large and, because the cost of forming a limited company is now so economical, there are few reasons why this may not be suitable, even for new businesses.
Funding is a particularly challenging issue for many small and medium sized businesses and often the easily recognisable structure of a limited company helps banks and other funders to understand the business structure and key participators.
A limited company can be highly tax efficient depending on the personal circumstances and needs of the business owners.
A limited company also offers protection against business creditors and other liabilities.
A company is required to file its annual accounts at Companies House within 9 months of its accounting year end. For larger companies, this can result in sensitive commercial information being available in the public domain, but for smaller companies (where, for example, turnover is less than £6.5m), only Abbreviated Accounts need to be filed at Companies House, which significantly reduces the amount of publicly available information.
We have a wealth of experience of dealing with all sizes of limited company, in a wide range of business sectors, and are familiar with the issues faced by owner managed companies and larger groups.
On behalf of us all a very big thank you to you and everyone at Dendy Neville for your support in helping us grow the business over the last 20 years. You have been a key partner to us and a pleasure to work with.