What help is available for people setting up a limited company?

Monday, 21 November 2011 10:50

Help is at hand for limited companies

Help is at hand for limited companies

There are many benefits to setting up a limited company; for example, you can maximise your income because it can prove to be a very tax-efficient way of working.

With limited company status comes a certain prestige, especially among clients and potential customers, as you have to meet certain legal obligations that could reassure your customers you are serious about your business.

However, the administration involved in setting up and running a limited company can be both challenging and time consuming, especially if you are new to contracting. Even if you’re confident about handling paperwork, keeping on top of it can get in the way of your contract, which is why asking for help can be a wise move to make.

There are many companies like Paystream that offer services to help individuals with the set up and ongoing running of a limited company.

Organisations that offer accountancy services can ensure a number of tasks are completed, such as book-keeping and the creation of any statutory documents. This can take a lot of time and effort if you try to handle it alone – energy that might be better spent building your network and securing contracts.

Another requirement of working for your own limited company is the submission of VAT returns, which have to be done each quarter. These can prove to be quite complicated if you are not sure what to do – but with an accountancy service provider, that is dedicated to such tasks, they can help you complete it in no time.

These providers can process the monthly or weekly payroll for the director and make sure all returns for the year end are submitted, such as P11D, P60 and P35.

With such support, it can leave you to think of new ways in which your company can grow and secure more contracts to boost your profits.

By using an accountancy service provider, you can ensure you trade as tax-efficiently as possible.

There are plenty more benefits to be gained by drawing on such support, so why not get in touch with an experienced company today?



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