by Daniel Jones

Current conditions in the UK make now a great time to set up a limited company and invest in business, Wisteria Chartered Accountants has suggested.

With unemployment on the rise, now is the ideal time to set up a business and become self-employed, while also benefiting from the skills of those who are out of work.

The company also proposed that tax schemes in the UK create favourable conditions, with national insurance exemptions up to £5,000 benefiting those who start operations outside London and the south-east.

Nick Tagg, director at Wisteria Chartered Accountants commented: “The new national insurance scheme brought in is potentially highly beneficial to anyone who takes advantage of it.

“The downside is that these benefits don’t extend to the south-east, where unemployment is still very significant.”

Latest unemployment figures show that 2.51 million people in the UK are currently out of work, meaning the jobless rate stands at 7.9 per cent.

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Published on: October 5, 2011