The most popular form business In the United Kingdom are Limited companies. A business entity acquires limited liability by registering with the Registration of Companies, a process known as incorporation.
The advantages of running a business as a limited company:
- A company may hold multiple shareholders even from outside the UK
- The shareholders are only responsible for the size of the contributed capital, which can make more people invest even in risky business.
- The company is managed by the directors, so those who are not able to participate in the management of the company can only contribute capital (shareholders).
- The directors are appointed by the shareholders.
- In most other businesses, the owner is responsible for the company’s debts to the creditors; in the case of a limited company, each shareholder can lose only the invested capital.
- The capital of a company is usually divided into shares. The person who holds them is known as the shareholder, their names and addresses are entered by the secretary of the company in the share register. This information is necessary to be able to send meeting notices and pay dividends.
- Shareholders receive a share certificate as proof of their legal right to participate, which is transferred if they choose to sell it.
Blue Diamond Accountancy Ltd offers services such as:
– Limited Company registrations
– VAT Returns
– Preparing and submitting Annual Accounts and Corporation Tax to Companies House and HMRC
– Update information about the company in the business registry
– Confirmation Statement
Prices for running Limited companies are set individually. They depend on many factors such as:
* number of documents
* number of employees
* type of business activity, etc.
If you need more information about setting up or running Limited Company, please fill in the contact form below or call us on 07708 466 992.