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Why You Should NOT Start an LTD in 2026!

Michelle Eames - Helpbox UK

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⚠️ Disclaimer:
All opinions are my own. Information is correct at time of filming. This video does not constitute personalised financial advice.

20 Comments

@helpboxuk Creator 8 months ago Pinned

@PJ-om2wq 8 months ago (edited)

I didn't start my LTD to save tax. I did it to separate my personal assets from the business in case someone ever tried to sue the company, and due to cost of liability insurance.

@graemejones9707 8 months ago

Been limited for 26 years, I am closing down. There's just no point any more. They don't want anybody making money or having anything other than a dismal basic existence

@MR_THINQ 8 months ago

This government is killing businesses

@dan19752008 8 months ago

I've advised my 22 year old daughter to buy a campervan after Uni & leave the UK

@georgemurphy9128 7 months ago

Starbucks in the UK does not pay corporation tax… Let that sink in

@annitacar 8 months ago

Just annoying government doesnt want people to thrive or live just live on benefits they are even penalisng people for having two jobs absolutely shocking

@zeea6507 7 months ago

Fed up of the UK tbh.

@MotoReviveLTD 8 months ago

I became LTD to separate myself from my company. It is massively more admin than when I was a sole trader though. However, I could be sued and lose my house, savings, etc as a Sole Trader. As a LTD company, the liability lies with the company. And that makes up for that.

I pay the vast majority of my profits into a private SIPP stocks and shares pension. Which is a business expense. And you can still pay yourself £12,500 tax free. If you can like that and If you're strict with yourself, a LTD is an excellent way to run a small business.

You can end every tax year with £1 in profit. And pay no corporation tax.

But it doesn't work for everyone.

@marcusoutdoors4999 8 months ago

The net effect of all the tightening rules is people are retiring early, entrepreneurial youngsters are emigrating at truly alarming rates, the economy is floundering.

@johntheaccountant5594 8 months ago (edited)

As an accountant, I very seldom let a client operate as a Sole Trader or a Partnership.
Risk of personal liability as sole trader is the first consideration to operate as a Limited Company.
It is easier to claim Universal Credit as an employee of a company than as a sole trader.
Getting your accountant to file quarterly as a sole trader costs more than filing once a year as a Limited Company.
I am knocking out trading Limited Company accounts for £600 a year including full set of company accounts, PAYE for the director, Corporation Tax Return, filing accounts at companies house and the director's Personal Tax Return.
Too many accountants charge ridiculous unjustifiable fees.

@80-two 8 months ago

Its ridiculous that with everything being electronic, they still find a way to massively increase the fee's every year..

@familycourtcarnage 6 months ago

The country needs to stop paying tax..

@flabbybum9562 8 months ago

This Government won't be satisfied until they've completely stamped out entrepreneurial spirit. I may now not be able to afford to start my business idea because of these ridiculous base line costs just to register and get going. Why do they hate working class people trying to claw their way up so much?

@AnimatedSupplyCo 8 months ago

Ironically I had to go limited to take on a Government project as they would only work with incorporated individuals.

@jamesmilligan2797 7 months ago (edited)

Why is NO ONE even mentioning the SA estimated advance payments for the following year when you haven't made a penny for the following year???🤬🤬🤬 it took 3 solid minutes of incesant questioning to get an HMRC official to admit & say the words....'this is an estimated advance payment' - legal scammers!!!

@cliveallen7291 8 months ago

Limited company = limited personal liability which will be the most significant reason for going and or remaining Ltd

@RB_87-b4b 8 months ago

My former accountant gave no financial advice, literally told me to get books in order, did a tax return & then turned around and said you need to pay £8k more in tax and £2500k in accounting fees, absolutely crippling and safe to say he lost me as a customer