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When you decide to start a business, its legal structure determines the level and type of tax you’ll pay, the extent of your personal liability, and how easy it will be to sell the business or pass it on when you retire.
Clearly, it’s one of the first considerations, and although forming a limited company is often seen as administration-heavy and a complex process, this structure offers some distinct benefits over being a sole trader.
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Here we look at ten of the advantages being director of your own limited company has over self-employment, and how your decision can affect various areas of your life.
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Don't worry - there are thousands of other company directors in the same position. If you are struggling to keep up with your Covid loan repayments, speak to a member of the Real Business Rescue team to discuss your options. It's Free & Confidential.
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If your company is struggling with unmanageable debts, squeezed cash flow, or an uncertain future, you are far from alone. We speak to company directors just like you every single day, and we are here to give you the help and advice you need.
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Real Business Rescue offers independent and unbiased advice to companies from every sector. We are part of Begbies Traynor, the UK’s largest independent corporate recovery firm.
Still unsure whether liquidation is right for your company? Don't worry, the experts at Real Business Rescue are here to help. Our licensed insolvency practitioners will take the time to understand the problems your company is facing before recommending the best course of action going forward based on your own unique circumstances.
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Understand your company's position and learn more about the options available
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