Barclays Bank

Make the most of your business status 
with a new guide from Barclays

To mark the start of its ”Efficient Business” campaign, which aims to help businesses save time and money, Barclays launches a new guide to improve understanding of the complexities of legal status.

In 2003, 377,000 businesses moved to limited company status, more than double the number that made the move in 2001 (185,000) – almost certainly this was to take advantage of improved tax breaks. With the recent announcement in the Budget of changes in taxation for limited companies, thousands of business owners may be considering if this was the right move for them.

To help them to make the most informed decision, Barclays has produced a free and easy to understand guide – Make The Most Of Your Business Status.

From sole traders to limited companies, the jargon-busting guide gives businesses a head start by explaining the pros and cons of the options for legal status as well as providing information on taxation, legal and financial requirements, and the stages of incorporation.

Alison Hopkins, Managing Director of Small Business Banking at Barclays said: “The ins and outs of considering legal status can be quite complex. To lend a hand, our guide explains in plain English the options available and provides the sources of information needed to help make the right decision.”

“Whilst we don’t anticipate that the recent changes announced by the Chancellor will lead to a dramatic change in the number of businesses who wish to incorporate, it is vital that business owners are clear of where they now stand and what their legal status really means.”

Barclays Make The Most Of Your Business Status Guide is available free from all Barclays branches or by calling 0800 515 462.

In addition to the guide, discounts available for Barclays customers include:

Those considering becoming a Limited Company can obtain up to 25 per cent discount with company formation agent, A1 Company Services Limited – who can take the hassle out of becoming a limited company by helping to draw up and register required documentation. 10 per cent discount on Clearlybookingkeeping Pro from Clearlybusiness.com. Clearlybookingkeeping Pro can save time and money for businesses by keeping track of business finances and can quickly produce accurate accounts to meet reporting requirements such as tax returns and annual accounts.