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Show Notes
Join Neil today as he discusses everything you need to know about Limited Companies to help you decide if this business structure is the one for you. Neil discusses the setting up process, tax benefits and the legalities of limited companies.
KEY TAKEAWAYS
- Limited companies are separate legal entities which mean there is a total separation of business and person. The company can own assets and gives the shareholders of the business limited liability.
- You have to register your company on Companies House, chose your name and pay your fee and then you have created a limited company. You will have to let them know who the directors are. Anything that goes on Companies House is a matter of public record and is freely accessible to everyone online.
- You need to register with HMRC for corporation tax. You only need to pay tax on your profits.
- Whilst it may be a bit of a hassle to set up a limited business, it comes with many benefits. It is flexible, tax-efficient and has a hybrid structure.
BEST MOMENTS
“Disclaimer, this is NOT legal or financial advice, it’s an overview designed to get you thinking and organising what you do.”
“I love limited companies.:”
“It is all about options guys.”
VALUABLE RESOURCES
- Listen to The Tutor Podcast on the Apple Podcasts (https://podcasts.apple.com/us/podcast/the-tutor-podcast/id1369191372)!
- Build Your Online Course Week 1: https://podcasts.apple.com/us/podcast/build-your-online-course/id1369191372?i=1000477109724
- Course Planning Week 2: Who Am I?: https://podcasts.apple.com/us/podcast/build-your-online-course/id1369191372?i=1000477109724
- Who are They? (Know Your Punters): https://podcasts.apple.com/gb/podcast/who-are-they-know-your-punters/id1369191372?i=1000478984529
- Read the Weird Things Guitarists Do book by Neil Cowmeadow, which is available now on Amazon. Link - https://www.amazon.co.uk/Weird-Things-Guitarists-Do-Misconceptions/dp/1519026579/
- Contact Neil via this website - com!
ABOUT THE HOST
Neil Cowmeadow is a maverick peripatetic guitar teacher from Telford with over 19 years of experience in the business of helping people. Learn how to start, grow and love your business with Neil’s invaluable advice and tips without the buzzwords and BS!
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