HomeОбразованиеRelated VideosMore From: Jonny Bradley

7 Key Advantages Of Having A Limited Company!!!

558 ratings | 28883 views
In this video I go over 10 Advantages in total for setting up a limited company vs sole trader - Watch until the end for the disadvantages too! My FULL Amazon FBA UK Course: https://jonny-bradley.com FREE AMAZONON FBA UK FACEBOOK GROUP: https://goo.gl/TBPSnn SUBSCRIBE: https://www.youtube.com/jonnybradley 7 Key Advantages Of Having A Limited Company + 2 bonus advantages and disadvantages of setting up a limited company vs sole trader. 1. Tax and Take Home 2. Distinct Entity 3. Limited Liability 4. Naming 5. Shareholders and Funding 6. Costs 7. Selling the Business and Succession 8. Credibility 9.Pensions 10. Splitting Income —— —— Must Have Software or services: Final Cut Pro: https://goo.gl/3ezNhJ Wix Websites: https://goo.gl/yVCXaB FETCHER: https://www.goo.gl/eSd9sa JUNGLESCOUT: http://www.goo.gl/2iLtLj Clickfunnels 14 Day Trial: https://goo.gl/9RJ9fY —— Recommended reading: DotCom Secrets: http://amzn.to/2wyQhZb Expert Secrets: http://amzn.to/2iUG98d 4 Hour Work Week: http://amzn.to/2wyBcH2 Business Idea Factory: http://amzn.to/2x5q8mg Get these recommendations as audio books for free: https://goo.gl/cxEpXo My info :) Facebook: https://www.facebook.com/jonny.s.bradley Instagram @JayBeeJonny Email: [email protected]
Html code for embedding videos on your blog
Text Comments (61)
Jonny Bradley (1 year ago)
Nazmi Aksu (1 year ago)
Thank you bery much mate it was very usefull can't be explained better!! Happy days ☺
Alex Maitland (1 year ago)
Very useful :)
Chloe Gibson (1 year ago)
Very informative! Can you make a video on when to set up a limited company, especially if you are already employed and have a regular 9-5 job but starting an amazon fba business including affiliate marketing on a part time basis? Thanks for all the info!
Jonny Bradley (1 year ago)
+Peter Perfect just a spreadsheet, my accounts are pretty simple, then send to the accountant at the end of the year and they do all the magic accountant stuff
Peter Perfect (1 year ago)
Do you use any accounting software?
tomgsxr6 (13 hours ago)
Great video thank you very much
A Google User (1 month ago)
What are the stric procedures for withdrawing money?
Kyle Race (2 months ago)
If I start a company and it doesn’t work out, or even get any money going into the account at all, is there anything I should know?
Kyle Race (2 months ago)
Syeem Ahmed thanks mate. Would I still need to mess around with tax accounts even if the company doesn’t even go anywhere? All the other comments are like a year old, perhaps the video maker has moved on from these lol
Syeem Ahmed (2 months ago)
Yes the bank account registered to the business will be closed in approximately 6 or 7 months ! People do try that one to avoid taxes so.... Hope this was some help surprised the video maker didn't reply
Kelly-Marie Kerr (3 months ago)
This video was extremely helpful to me today - THANK YOU VERY MUCH! :-)
Tatsuya Miura (3 months ago)
Average cost of an accountant to help me with the start? I need to start an Ltd to be able to take contracting jobs, are there any other costs involved with that?
optimusprime699 (3 months ago)
So in theory you can claim 20k for the year through splitting income in a four person family tax free as you get the first 5k (at time of your recording) plus the other earnings through the company?
Michael Sharman (4 months ago)
How much is a good accountant per month Sir ?
Jonny Bradley (4 months ago)
I dont really pay monthly so not sure
Dale Drake (4 months ago)
Good video bud, I like the idea ref having the accountant as your business address
Corn Pop (4 months ago)
Any idea if you can work and start a limited company at the same time ?
Hussain Asef (3 months ago)
Can you make a video regarding this with advantages and disadvantages please
Jonny Bradley (4 months ago)
Yes you can :)
EBOJFM DBOOJOH (4 months ago)
Nice video, with the last one though, I'm not sure trusting your accountant with everything is necessarily an Advantage. As a business owner and shareholder I think it would be important to know what's happening in the company. If you trust your accountant too much you might not know everything that may be happening. For example, your accountant could be embezzling your profits. Personally I would just trust the accountant to prepare the accounts and not much else. N.B: I do not imply that all or any accountants are fraudelant. Everybodys' circumstances are different. So always speak with an expert. I am not an accountant or financial advisor, and have never set up any company or ran a business before, Please don't take any of what I've said as any kind of Business or financial advice. Just giving an opinion.
spook blook (5 months ago)
kinda bad h
BadgerLaser (5 months ago)
very informative video thanks for taking the time to make this and share your knowledge
ladyfitness67 (7 months ago)
Thank You 🙏🏾
António Mónica (7 months ago)
Great info here! How much can you expect for the cost of having an accountant?
Jonny Bradley (7 months ago)
£600 a year, but depends on what you have them do
LAHegarty (7 months ago)
Do you use a local accountants or a chain? And would you recommend one over the other? Thanks for all the info btw, very informative and helpful.
Jonny Bradley (7 months ago)
use a local one! never a big chain
Steph Oliver (8 months ago)
Love your vids ❤️ do you have any recommendations on a uk business account? Would prefer to avoid high street as they take months to set up and less than perfect credit score 😬 I have read world first is a good option and wondered what your thoughts are! Many thanks
Jonny Bradley (7 months ago)
I think Barclays are my new favourite for the UK
Tash T (9 months ago)
This is a great video!!! Thank you Jonny!
Choice Junction (10 months ago)
Very clear and as always useful info! Thanks Jonny
1292liam (10 months ago)
Great vid JB, V insightful. You pay your accountant once a year/ thats how often they tie everything up for you, to then just sign ? At what point did you commandeer an accountant -Once your company had been signed off with Companies House?
Jonny Bradley (10 months ago)
it depends, they've recently done loads of work for me so billed me for their time but normally just end of year. I had an accountant before I started but I would suggest within about 3 months
Buzzin Producer (11 months ago)
Really use full info.
Eykis 11:11 (11 months ago)
So do you have all your multiple streams of income going through 1 limited company? Or would you need to set up multiple limited companies for each business model for example fba, affiliate marketing, and other ones you could branch into like shopify etc.
Eykis 11:11 (11 months ago)
Jonny Bradley thanks for the reply. Il be getting an account in next couple of weeks, then I can the ball rolling!!
Jonny Bradley (11 months ago)
depends on how much you make from each one. I am in process of separating them but I'm pretty lazy with accounts etc so getting the accountant to do it all!
Alex Maitland (1 year ago)
Did you set up an Ltd company while you still had a full time job? Also how did this affect the tax from your full time job if you did?
Jonny Bradley (1 year ago)
yeah I've had a company for about 6 years now and it won't affect your tax unless you are earning an income as a PAYE or if you go over tax thresholds for income. For specific advice really you should just speak with an accountant though
marksie1988 (1 year ago)
Did you start off as a sole trader and then go limited once you knew it would all work out? Im researching at the moment but thinking is it worth setting up a company if FBA doesnt work for me?
Sunny Hope (4 months ago)
What did you end up doing marksie1988?
Aly Mohajer (11 months ago)
Did you Vat register your ltd right away?
Jonny Bradley (1 year ago)
I actually started as a limited company as it just made sense to go all in straight away
Paul Sheriffs (1 year ago)
Thanks this is helpful. So if I wanted to buy some stock, and wanted to set up as a limited company presumably that means I'd need to buy the stock from the Ltd company bank account? If that's the case, would i need to do things in the following order: 1) Come up with a company/brand name 2) Set up the company 3) Open a business bank account in the company's name 4) Buy the stock Is that right, or is there flexibility in the order in which to do things (e.g. can rename the company later)?
Paul Sheriffs (1 year ago)
Cool, thanks. So if timings came to it, I could buy the stock from a personal account and get the accountant to sort it out later. Handy to be able to rename the company too.
Jonny Bradley (1 year ago)
+Paul Sheriffs you pretty much got it, however you don’t neeeeeeed the ltd set up when you order but personally I would set it up first so the manufacturer can invoice the company. And yes you can rename the company later, costs £10
GuitarBay (1 year ago)
Hey Jonny! I contacted different suppliers for their prices and can't seem to get a good profit right now..  My average product sales price is around 20€...So minus the VAT (4€), FBA fees (5.30€), shipping costs (0.5€), duties (0.60€), product costs (4.5€), and marketing fees (let's say 5% so 1€), I'm getting a total profit of 4.10€ on an initial investment of 5.6€.. And then I would need to hire a freight forwarder which would lower my profit again? What am I doing wrong 😅🤔
Jonny Bradley (1 year ago)
So negotiating is important and that will always help. But make sure you have the VAT right, as for me in the UK I pay 20% on the import cost, then if I become VAT registered it gets a bit more complicated. so just check that you've got that right. It maybe a case that its just not a good product for a beginner entering the market at this point. Also is the product big and heavy?
Adam Whittam (1 year ago)
Would you say you need an accountant straight away or when you reach a certain income?
Jonny Bradley (1 year ago)
I personally would say do it asap as you won't even be paying them until they actually do something for you, no harm in arranging meetings. Yeah so for me I did it actually before I had a business bank account.
Adam Whittam (1 year ago)
How much does it cost you for your accountant??
Syeem Ahmed (2 months ago)
Accounts are not as expensive as you think my brother it is a myth as well that the big man's dem have account... My accountant gets paid around £250 a year If you in UK I can make a couple of recommendations
Jonny Bradley (1 year ago)
+Adam Whittam variable but a few hundred a year
samueletofan9 (1 year ago)
Do you talk about a LLc in the USA oder the Uk? I heard they block new fba seller till January 1 because of q4 ) is that true or can I start fba now ??
samueletofan9 (1 year ago)
Jonny Bradley thank you !! Do you only sell in the Uk or in the USA too ? I want to where (website) I can set up an bank account and LLc (Wyoming) in the USA as an international seller online. Keep going !!
Jonny Bradley (1 year ago)
+samueletofan9 LLC Is the same as LTD they are both Limited Liability companies. And no it’s not blocked, just delays on receiving shipments into the amazon fulfilment centres. Only accept ion is you can be a new seller I’m toys and games in q4
Bluechecker (1 year ago)
You mentioned in your previous video that you put most of your earnings to your company's bank account because you are tempted to spend it if it's in your personal account. That sound risky if your company is not insured?
Jonny Bradley (1 year ago)
Can be yes, you’ll want professional indemnity insurance and if you’re doing amazon; product liability insurance. HoweverC I restrict my earnings just as at this moment in time I need to reinvest not spend :)
Bluechecker (1 year ago)
Jonny B!!! first :)
Jonny Bradley (1 year ago)
+Bluechecker notification squad!

Would you like to comment?

Join YouTube for a free account, or sign in if you are already a member.