What are the advantages of setting up as a limited company?

Answer by  QuestionGirl (146)

The advantages of owning and operating a limited company is you receive some serious tax breaks from the government and in addition you aren't liable for a lot of mistakes your employees may or may not make in the future. It's the safest way for a new company owner to begin.

Answer by  rightlight (1053)

By becoming a limited liability corporation, you are limiting how far a creditor can go to recover on defaulted loans. In this form, only assets owned by "the company" can be repossessed, protecting your personal possessions, such as a house or car.

Answer by  melissa23 (1002)

Directors and Shareholders own personal assets are not at risk if the company ends up taking a downard fall. There is limited liability put upon the companiys officers and shareholders.