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A limited company exists as a distinctive lawful entity, different from its proprietors. This permits business to have possessions, participate in contracts, and open its own bank accounts individually of its supervisors. This separation simplifies accounting and aids to develop clear limits between
There are complicated rules bordering the type of business which have to have an audit. You can discover more if you examine HMRC's website.In basic terms, if your company's turnover is below ₤ 10.2 million, and its possessions are listed below ₤ 5.1
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