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Bussiness Environment

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What Are The Advantages And Disadvantages Of A Private Limited Company?
ADVANTAGES AND DISADVANTAGES OF A PRIVATE LIMITED COMPANY
ADVANTAGES
- A private limited company has a separate legal existence. This means that properties will be owned by the company itself and all contracts would be signed on its behalf. The directors and secretary can only act as agents. Therefore the company is not dissolved on the resignation, bankruptcy or death of a director. The company can be dissolved only by winding up, liquidation or order of the Registrar of Companies or by the Court.
- Limited liability is another advantage of a private limited company. The shareholder’s liability is limited to the value of the shares held by them should things go wrong. The personal assets of a shareholder cannot be used to pay off the debts.
- Incorporation as a limited company will protect the selected company name. Once incorporated, it is listed in the register of companies maintained by Companies House. Therefore no one else can incorporate using this name.
- Tax benefits are also applicable. The directors of the company are required to pay income tax but the company pays corporation tax on company profits which is one rate of tax only and averages out at much less than if income tax were paid on the profits.
- A private limited company has strong and structured procedure to resolve any disputes between the shareholders of the company.
- A private limited company has strong and structured procedure to resolve any disputes between the shareholders of the company.
- A private limited company also offers improved national insurance benefits.
DISADVANTAGES
- There are strict legal requirements under the Companies Act to file annual accounts and annul returns.
- All the company information is publicly disclosed through Companies House.
- Directors of the company have to comply with…...

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