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7 Key Advantages Of Having A Limited Company!!!

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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://goo.gl/kdLHBW 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 —— The Entrepreneur Accelerator Mastermind Group: https://goo.gl/uDAzrp Book a coaching call at: http://jonny-bradley.com/coaching Get your, How to Make £100 A Day With Affiliate Marketing for Beginners Ebook here: http://affiliate-supremacy.teachable.com/p/affiliate-supremacy Get your Amazon FBA Product Research Guide here: http://affiliate-supremacy.teachable.com/p/amazon —— I am still offering my 121 support with Affiliate Marketing Mastery if you sign up through my link: http://affiliatemarketingmasters.teachable.com/?affcode=136407_feh_h1vcTanner J Fox / Dan Dasilva - Amazon Seller Mastery Course (UPDATED) - Sign up here for my personal 121 support: http://amazonsellermastery.teachable.com/?affcode=109880_wfcgyy4q The Best Social Media Marketing Course Yet : https://goo.gl/gFRZQi —— 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]
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Text Comments (46)
Jonny Bradley (11 months ago)
LET ME KNOW WHAT YOU THOUGHT OF THIS VIDEO!
Nazmi Aksu (6 months ago)
Thank you bery much mate it was very usefull can't be explained better!! Happy days ☺
Alex Maitland (7 months ago)
Very useful :)
Chloe Gibson (11 months 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 (11 months 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 (11 months ago)
Do you use any accounting software?
Gadgets (27 days ago)
Is there an online accounting service that you recommend ?
ladyfitness67 (1 month ago)
Thank You 🙏🏾
António Mónica (1 month ago)
Great info here! How much can you expect for the cost of having an accountant?
Jonny Bradley (1 month ago)
£600 a year, but depends on what you have them do
LAHegarty (1 month 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 (1 month ago)
use a local one! never a big chain
Steph Oliver (1 month 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 (1 month ago)
I think Barclays are my new favourite for the UK
Tash T (3 months ago)
This is a great video!!! Thank you Jonny!
Choice Junction (3 months ago)
Very clear and as always useful info! Thanks Jonny
1292liam (4 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 (4 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 (4 months ago)
Really use full info.
Eykis 11:11 (5 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 (5 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 (5 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!
Daisy chain (7 months ago)
Very clear and valuable video, this will help a lot, thank you
Jonny Bradley (7 months ago)
Glad you liked it!!!
Alex Maitland (7 months 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 (7 months 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 (8 months 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?
Aly Mohajer (4 months ago)
Did you Vat register your ltd right away?
Jonny Bradley (8 months ago)
I actually started as a limited company as it just made sense to go all in straight away
Paul Sheriffs (11 months 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 (11 months 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 (11 months 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 (11 months 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 (11 months 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 (11 months ago)
Would you say you need an accountant straight away or when you reach a certain income?
Jonny Bradley (11 months 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 (11 months ago)
How much does it cost you for your accountant??
Jonny Bradley (11 months ago)
+Adam Whittam variable but a few hundred a year
samueletofan9 (11 months 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 (11 months 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 (11 months 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 (11 months 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 (11 months 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 (11 months ago)
Jonny B!!! first :)
Jonny Bradley (11 months ago)
+Bluechecker notification squad!

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