INCORPORATE YOUR BUSINESS WITH HAGGARDS CROWTHER

We will manage the entire process

Incorporating your business not only provides tax benefits but can also increase your credibility with clients.

WE WILL MANAGE THE ENTIRE INCORPORATION PROCESS.

Incorporation

There are many benefits of incorporating your business including saving money. We’ve listed the main pros and cons of incorporating below, but if you’d like to arrange an appointment to discuss your options then call us today.

BENEFITS OF INCORPORATING

Your liability is limited to the share capital you have purchased. In other words, if it doesn’t work out and the company is left owing money, you are not legally required as a shareholder to put money into the company to pay the debts.

There are often significant tax advantages to trading through a limited company. As the tax regime stands today, you will pay less in tax by setting up a limited company and drawing a small salary and receiving the rest of your income as dividends than you would pay as a sole trader.

In trading as a limited company, you have the ability to smooth your income over a number of years, whereas a sole trader you will pay higher taxes in the good years potentially at a higher rate of tax, and less tax in the bad years.

It’s a good structure to trade through if you are looking for equity investment – shares and shareholder agreements are widely understood in the investment community and afford the investor the level of security/ protection he is looking for.

As a director, you will have the ability to draw a salary and therefore get access to employee benefits provided by the state.

Commercially, you look bigger and more established as a limited company.

DOWNSIDES TO INCORPORATING

Ownership in companies is reflected in the issue of shares - this is relatively inflexible when compared with alternatives.

Information about the company will be available on the public record.

There is a legal requirement to prepare a balance sheet at the year-end – this adds a layer of complexity to the bookkeeping required.

As a director of a company, you have fiduciary duties that are defined in law. There is a requirement to separate your personal and business lives.

WANT TO INCORPORATE? WHAT TO DO NEXT.

Before you come to meet us there is some information that we’ll need you to gather the following information:

  • Name (we can help you find a unique one, or check the Companies House website Registered address
  • Number of shares to be issued (we can talk you through the options)

We’ll also need the following about each director:

  • Full name including any former names
  • Country of residence
  • Home address
  • Service address if you do not want to use your home address
  • Date of birth
  • Business occupation
  • Share percentage if less than 100%

If you have non-director shareholders then we’ll need:

  • Name
  • Address
  • Share percentage

Incorporate your business for just £25+VAT 

"George Parker has been looking after our personal finances for a number of years and have consistently found him to be easy to work with and very professional. On the whole, Haggards are friendly, fast and reliable."

MR. TIMOTHY, SW15