If you’ve decided to close your limited company, a members’ voluntary liquidation is the most tax-efficient way to do it. Here we explain what an MVL is, and how the process works.
Business Structures - Limited Company
Most professional contractors work via their own limited companies. It remains the most tax-efficient business structure, despite recent increases in dividend tax and Corporation Tax.
Company directors have more paperwork and legal obligations than umbrella company contractors, but a specialist accountant can take care of these administrative duties for you.
- If you only have 5 minutes, make sure you read 10 things you should know before setting up a limited company
- How much does it cost to set up a limited company?
- Limited company basics - how to set up a company, and the responsibilities you have as a director
- Limited vs. Umbrella - find out more about the advantages and disadvantages of each business structure
- For in-depth guides to setting up a company, try Limited Company Help
Limited companies – what are SIC codes used for?
A Standard Industrial Classification (SIC) code is used to identify the business activity of your company, such as ‘Information technology consultancy activities.’
Why your limited company might need a shareholders’ agreement
If you decide to set up a limited company with other people – either for contracting purposes or to run another type of business, how do you ensure that all of your shareholders (including yourselves) are protected in case something goes wrong? A well-drafted shareholders’ agreement might be the answer.
What is a Certificate of Incorporation?
When you register a company in the UK, once your application has been processed and approved, Companies House will send you a formal certificate of incorporation.
What are statutory records, and why should you maintain them?
If you’re running your own limited company, there are a number of records the directors are obliged to keep. Here we explain what these registers are used for, and what types of information they contain.
Managed Service Company legislation – how does it affect contractors?
A recent case has highlighted the impact of the MSC legislation on the contracting industry. How can you ensure that you are not involved with an MSC provider – who is effectively controlling your limited company?
Running a company – what is a confirmation statement?
All private limited companies and limited liability partnerships registered in the UK are required to submit a confirmation statement to Companies House each year. So what does this statement contain, and how often must it be submitted?
How to close down / dissolve a limited company
As a limited company contractor, you can choose to voluntarily shut down your company and remove it from the Companies House register. This means the company will cease to exist and you won’t face any more administrative duties or running costs for the business.
Letting out property via your own limited company
As the number of tax planning opportunities available to contractors continues to dwindle, we look at the pros and cons of running buy-to-let investments via a corporate structure.
The benefits of going limited after April 2016
Several significant tax changes are set to take effect from April 2016. Here, a leading accountant explains what the likely impact will be, and why the limited company model remains a smart choice for contractors.