Comment by phphphphp

Sorry, for clarity, I mean tax minimisation of existing liabilities. You (based on your description) do not have an existing liability that you're looking to minimise, rather, you're looking to minimise future liabilities. Property is a common example of an asset that someone may wish to transfer into a Limited company to minimise existing liabilities (for example, stamp duty). If your business was something you'd acquired personally (i.e: you paid £500k of your own money to acquire from a third-party) and you were still in the red on the acquisition which was influencing your tax situation, that would be an example where you'd want to consider tax minimisation in the process of forming a Limited company.