Why it is vital to understand the separation between you and your limited company. In law a company is a separate legal entity, or legal person from its owners (shareholders) and from its directors. A company can own property, enter into contracts, employ people, sue and be sued and even be charged with criminal offences.

Welcome to the LCCS Blog. This is just a very short introduction to tell you a little bit about LCCS, and why this blog is now a thing. LCCS is an accounting firm for the modern age, aiming to disrupt a very traditional, conservative, old school profession. The accounting profession, especially at the smaller end

With the rise of the gig economy and portfolio careers many people are now taking advantage of the considerable tax and security benefits of running all of their income through a limited company. But while incorporation brings benefits, it also brings obligations that every company director needs to be aware of. Here we spell out

Overdrawn directors’ loan accounts – Why it can be a big problem and how to avoid it. If you are a company owner and you don’t understand your directors’ loan account, and the implications of having a debit directors’ loan account you could lose not just your company but your own assets as well. “…you

How to overcome your fears and become your own boss. If you’ve always wanted to run your own company but don’t know how to get started it can be extremely daunting. The good news is it doesn’t have to be. The fear is of losing the stability of a regular 9 to 5 income and