A
limited company is possibly the most popular choice of business formation
in the UK. A limited company holds various trading benefits.
Once
you set up a limited company it becomes a legal entity in itself, what
this means is that the founders are not personally liable for the companies
debts or liabilities.
The company's
profits, losses, assets and liabilities belong to the company that is
owned by its members (the shareholders), the company is run by the managing
director who is responsible for the company's activities.
Due to
the fact that a limited company is a legal entity of its own the company
can continue to trade despite of resignation or death of its directors,
and can be passed on to new directors without any effect on the business
itself.
Many
businesses in the United Kingdom are started as sole traders or a partnerships,
but to trade as a Limited Company has many benefits.
Tax on Company's
profits, called corporation tax, which is calculated differently from
income and Capital Gains Tax. If in doubt about the tax consequences
of forming a limited company talk to a good accountant. Or just use
our calculator
to work out how much tax you may save by forming a limited company.
If
you are convinced you want a limited company, we shall take you through
the process step by step.
You just provide us the necessary information,
We can provide you the
Registered Office Address, Company Secretary service and some case we
can a Nominee Director service
also.
We use Company House electronic
filing system and most companies are formed within 24 hours.
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