The most important thing about a limited company is that it is its own legal entity and is therefore treated as a separate taxpayer. This has a particular bearing on contractors who work through the company.
The owners of a limited company are shareholders. Usually, at least one share belongs to the director who started the company. The director is often the only shareholder, therefore owning 100% of the company.
If you channel your income through a limited company, you can gain significant tax savings - as long as the right structure is applied and the right advice is followed.
In particular, retained earnings (i.e. your company’s profits) can be paid out to shareholders in the form of dividends, which are treated differently to salaries in terms of tax.
At Sable International, we can maximise your limited company tax savings by tailoring the right structure and advice to your personal circumstances.
Is a limited company my best bet?
A limited company is not for everyone. There are advantages and disadvantages to limited companies. If you're uncertain, we suggest that you speak to one of our advisers; they will help you to decide whether it is the best option for you.
How do I set up a limited company?
Once you have decided that a limited company really is the way to go, our advisers can have everything set up for you in one working day. Our all-inclusive accounting services include the set-up of the company as well as the initial advice, which is free of charge.
How much admin is involved?
As with the running of any other company, a limited company comes with the responsibilities of meeting your statutory filing obligations, paying taxes, etc.
Sable International can relieve you of the day-to-day hassle of limited company administration. We provide comprehensive accounting services and advice. We also like to give our clients all the details, so that they understand why we suggest certain structures. Our quarterly "health check" meetings are designed so that you don’t have to worry about much admin on a daily or weekly basis.