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When should I go Limited?

Forming a limited company is not to be taken lightly. Although over 400,000 companies are formed in the UK each year, every company comes with certain responsibilities and administrative burdens. For these reasons, limited companies aren’t for everybody – however if you’re willing to put up with a little more inconvenience you can take home a lot more money.

Our general advice is that once your turnover reaches around £15,000 you can save money by incorporating, although every situation is different. If you’d like a more detailed assessment of whether a limited company is for you, contact Crunch Accountants for a free evaluation.

Aside from the added tax efficiency, a limited company has additional benefits -

- Limited liability

- Added professionalism

- Extra employability in some sectors (particularly in finance)

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