Business is all about making profit, but digital marketers today are turning their passion into business and that’s good because it makes things easier and interesting. Starting your own company is a great way to start your business. However, you have to ensure that you nurture it and focus on continuous growth and develop it with new ideas and innovation. A limited company is privately owned businesses that have the liberty to sell products and services based on their choices. If you’re planning to start a business here are some reasons on why you should start a limited company.
One of the reasons why you should start a limited company is because they are more popular than other regular associated companies. If you’re planning to trade with various other companies from around the world, it is recommended that you go for establishing limited company that has more credibility in the market. Limited company has the right to make their decisions and therefore it offers more freedom to the owners to make their decisions and decide what is best for their company. Entrepreneurs often require more freedom that can allow them to expand their business in various different ways.
While starting your limited company you have to separate your personal account from the business account and that means that there is low personal financial risk. There are separate accounts created for your limited company and business and therefore you are protected if there are financial losses or if things go wrong. The overall structure of establishing a limited company protects the owners from suffering a personal financial loss.
One of the benefits of starting a limited company if you’re a digital marketer, or online business owner, is that you are protected by the law. When you register your limited company with the Companies House it has a stringent rule for naming the companies so that no other company or individual can use the same name as you do. This helps you to keep your business protected from unwanted companies and threats that can impact your business.
Tax savings is another benefit that you can gain from starting a limited company. There are various tax planning opportunities that you can use to pay your taxes and according to your business circumstances. The corporation tax for limited company has dropped from 24% in 2012 to 20% in 2015 and the tax rates will be dropping further in the future which would lead to more tax savings for your digital marketing business.
To find out how this can benefit you get your free consultation visit: http://TaxTwerk.com/appointment
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