Tag: small company
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The difference between a sole trader and a limited company
The main difference between a sole trader and a limited company is the legal structure. Sole Traders are self-employed individuals, who are the sole person in their business. As a sole trader, you have total control over any business assets and profits. This also means you are personally liable for all the debts of the…
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Changes to Accounts Filing for Small Companies and Micro-entities from 1 April 2027
From 1 April 2027, small companies and micro-entities will need to file profit and loss account statements with Companies House. Companies will no longer be able to prepare and file ‘abridged’ accounts. The changes are being introduced under the Economic Crime and Corporate Transparency Act 2023 to combat money laundering and other fraudulent activity. What’s…