To become Limited or not to become

[aclarke]

Thinking of being limited company as people keep ask if Ltd when said that i wasnt they werent to keen to deal with me as only sole,
any info if to go down this road or not please

[kwatt]

It’s a lot of hassle TBH.

If you need to then you need to but it will increase your accountancy costs as well as administration.

K.

[Jackal]

Re: To become Limited or not to become

Exactly as Kenneth says, loads more hassle and accountancy costs.

The thing is, a limited company in the eyes of the law is a living breathing walking talking entity and effectively becomes a person in its own right.

The very same people you have been talking to will see this and importantly conclude that the company is effective a baby with no track record and will come to exactly the same conclusion as they did before, only they are now likely to ask for personal guarantees from you which in effect means they are bypassing your limited status.

In conclusion, why go limited and cause yourself the grief unless the business is big enough to accomodate it, ie you have the need for full time senior management roles for Finance, Sales and Purchase Control, HR and Technical control.

Hope this helps

Regards to all

Jackal

[Author]

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