David Barry    Accountants and tax advisers       020 8252 7018/07877671423

So, your accountant has told you that don't form a limited company because its more tiresome to run /manage "and guess what?  I am doing you a favour," he says, "It's gonna cost you more money!"

Well, in this series of articles I am going to tell you about some benefits for owning a limited company.

Let's forget the tax (crucial) let's forget the balance sheet (crucial) let's forget the advertising(crucial) and concentrate (instead) on something else.

Your limited company fails.  You have tried your best but it just hasn't happened for you.  You are now unemployed, on the scrap heap and no-one wants you.

Go online, submit your leaving details to H M Revenue & Customs and afterwards at the jobcentre.  either the same day (I Know you cannot because you must make an appointment and all that...)  or later, the jobcentre will hold your leaving dates on record but what does this mean to you? 

Get benefits!  That is unemployment benefit and all other legitimate social security claims that you are able to make(advised in later articles, ) like claiming help for your children and other help with your council tax etc etc.

Why not contrast this with a self-employed trader who must go see his accountant, pay to get accounts typed up to his leaving date, (£400 plus, maybe,) complete a tax return and file everything online to H M Revenue & Customs... a whole raft of work.

Ring the tax experts. 

 David Barry    Accountants and tax advisers       020 8252 7018/07877671423

David Barry & Co on 020 8252 7018/07877671423