Limited company or Partnership?
Choosing the right legal structure for your business is akin to finding the perfect balance in a dance—each step impacts your journey from liability protection to tax efficiency. As a small business owner, you’re likely weighing the merits of two main partners on this stage: limited companies and partnerships. Let’s break down their ins and outs and see which one might suit your rhythm best. Limited Company: Shielding Liability, Structured Growth A limited company acts like a legal bodyguard—it shields your personal assets from business debts and legal claims. This alleviates worries about financial risks, allowing you to focus on nurturing your business. Being a separate legal entity enables the company to sign contracts and own assets under its own name, bolstering credibility in the business world. Tax-wise, you might benefit from lower corporate tax rates and useful deductions. When it comes to attracting investors, the appeal of shares or loans presents a solid pathway...