Thinking about changing your accountant or starting a new business?

Call Astons Accountants on 01582 459500 for the right advice, we're here to help

We will be pleased to hear from you if you want to start a new business and need to talk through the choice between becoming Self-Employed a Limited Company or an LLP.

Call Astons Accountants on 01582 459500 and speak to an expert.

Limited Company or
Self-Employment

Self-Employment *

 

Limited Company

FOR

  • Simple – easy to administer
  • Flexible – easy to manage
  • “Cheap” – simplest form of business, with minimum regulation and administration
 

FOR

  • Better “status” in business community
  • Tax/NIC efficient
  • Limitation of liability
  • Better in the long term for financial and tax planning
  • Easier to involve other people and investors

AGAINST

  • Least impressive “status” in business community
  • Not Tax/NIC efficient
  • No protection from liability
 

AGAINST

  • More complicated administration
  • More expensive to run
  • More constraints on administration
  • More legislation to worry about
  • Less flexible cash movement

*Self-employment includes partnerships which are really, effectively, treated as a group of self-employed people working together.

There is a compromise called a Limited Liability Partnership (LLP) which may suit some situations.

Companies House offer guidance on the use of sensitive words and expressions when dealing with incorporation and names.

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Thank you for what you have done... ...you have known my dad a long time and you are a Godsend to his business.

D. Savin, Nurseryman
Upper Stondon Nurseries, Henlow, Bedfordshire