Tax Saving Idea No. 3 - Incorporation – consider trading through a limited company

Tax Saving Idea No. 3 - Incorporation – consider trading through a limited company

Each week we are sharing a series of tax saving ideas that are relevant to entrepreneurs, family businesses and owner-managed businesses.

Our third tax saving idea in the series is:

Incorporation – consider trading through a limited company

There are several potential benefits of running a business through a limited company rather than as a sole trader or partnership. These can include significant tax savings, enhanced asset protection and easier access to funding. Sole trader businesses and partnerships can be less tax efficient than a limited company, especially if the proprietors are not drawing all the profits of the business. We can undertake a thorough review to identify the tax and commercial advantages and disadvantages of an incorporation.

As always, the key to successful tax planning is to seek advice as early as possible.

If you would like more information or would like to discuss your tax affairs in more detail please contact:

Steve Crompton

Lucy Williams CTA

#taxplanning #taxadvisory


 

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