One size does not fit all - Should YOU become a limited company?
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‘Should I incorporate my property portfolio?
\\nShaz is frequently asked this question and in this finance Friday podcast he looks at the benefits of incorporating and creating a limited company. He provides great advice about the benefits but also shares his key take away – ‘one size doesn’t fit all’ you need to spend time looking closely at the reasons for becoming a limited company so that you can make an informed choice.
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KEY TAKEAWAYS
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- People should spend time deciding whether incorporation is or isn’t for them. \\n
- A limited company gives you limited liability. \\n
- As you grow your business a limited company may be a better route as there is less personal risk. \\n
- If you have a limited company you are only liable for corporation tax. \\n
- As a limited company, you have flexibility about the amount of income you take from the business each year. \\n
- It’s easier to attract investment from third parties because there is more visibility for a limited company. \\n
- There is a prestige value to having a limited company for some. \\n
- A key driver for most is section 24, it has an advantage but you need to look closely if this is the only reason for operating as a limited company. \\n
- There can be a capital gains advantage to being a limited company. \\n
- You need to consider pensions and loans to participators as part of a limited company \\n
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BEST MOMENTS
\\n‘There is no company car tax this year if you have an electric car’
\\n‘People should spend time deciding whether incorporation is or isn’t for them’
\\n‘One size does not fit all don’t assume you need to be a limited company’
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VALUABLE RESOURCES
\\nshaz@aaa-accountants.co.uk
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ABOUT THE HOST
\\nShaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
\\nShaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
\\nHe is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
\\nYou can find Shaz on:
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This show was brought to you by Progressive Media
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