The benefits of setting up a limited company speak for themselves. For very little cost you can ensure that you have your personal assets protected and that you benefit from the very best tax rates for you. But the idea of moving from a small business or sole trader into being a limited company can at the same time be a daunting prospect for those who have never had experience of managing such a company.
There can be a lot more to think about, from the limited company accounts through to understanding the role of directors and secretaries and dividing such responsibilities. Here people have two main options – undertake the work themselves, or delegate some or all of the responsibility to a third party.
The benefits of enlisting accounting services to run your limited company accounts are numerous, from removing a great deal of extra work for what is very minor expenditure to ensuring that extremely important matters such as tax and payroll are dealt with by people who have a great depth of experience in such matters. It also means that an extra member of staff is not needed on the team to run such things as all you need to do is give such companies the relevant facts and figures that will almost certainly already be at your disposal, and they will simply and easily take care of the rest.
Using accounting services will also mean that important deadlines are never missed again which can lead to heavy fines, whilst your tax is dealt with in the correct way meaning you aren’t left with any nasty surprises a few years down the line.
Ultimately, when setting up a limited company, you can pretty much carry on as normal and let professionals deal with any extra workload, saving you time, money and a whole lot of hassle in the process.