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Establishing a Ltd company is a relatively straightforward process. Stewart Accounting Services can assist you with the process. There is also online management for this type of business. So, provide the name of the limited company, the company can usually be set up at Companies House within a couple of days or can be done online.
Generally, a Ltd company is a separate legal entity from the owners (shareholders) and managers (directors). Management of the business accounts is also less hassle. The company’s debts and liabilities are the responsibility of the limited company management and not the shareholders and directors.
The exception to this is that if a director or shareholder gives a personal guarantee to a lender or creditor then if the company is unable to pay this debt the guarantor would be personally liable. There are several advantages but also some disadvantages of running your business as a Ltd company:
Advantages
Disadvantages
We took on Stewart Accounting Services over a year ago after finding we were chasing our tail with our previous accountants. Stewart Accounting Services have been nothing but helpful to our business. We have been in business for 23 years now and Marks advice and professionalism and has been second to none, letting us get on with our day to day work. We would highly recommend Stewart Accounting Services to any new or established company who want great service and advice from a company who use the latest online technology to get information to you quickly and efficiently - whether it be Tax returns, HMRC information or advice.
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