Fill Out Our Limited Company Form
Fill Out Our Limited Company Form
Limited Company FAQs
The basic limited company formation process is quite affordable. If you are looking for a comprehensive service that includes personalised professional advice and other accounting services with setting up a limited company, our Limited Company package is the one for you! Take a look at our package in more detail or get in touch for more information today.
Yes, you can set up a limited company yourself by registering directly through the Companies House website without using a formation agent or solicitor. However, we recommend you have a professional on hand to help you with the limited company formation process.
An accountant is not legally required for the actual formation process of a limited company, as you can complete the registration yourself. But, it takes time to learn about limited company formations in the UK. This is why many business owners choose to use an accountant early on for valuable guidance on optimal share structures, tax planning and to help establish proper financial systems that will satisfy the more complex reporting requirements of limited companies.
A limited company is a type of business structure where the liability of shareholders or members is limited to the amount they’ve invested or guaranteed to the company. This creates a legal separation between the business and its owners.
As a limited company forms a separate legal entity from its owners, this means:
The company can own assets, enter contracts and incur debts in its own name
Shareholders have limited liability for company debts
The business continues to exist regardless of changes in ownership
Before you can jump into the process of forming a limited company, you must first ensure you meet all the criteria. Here are some things to consider before making an application:
Directors: You need to have at least one director who is at least 16 years old, has not been disqualified from being a director and is not an undischarged bankrupt.
Registered Office: You must have a registered office address in the UK. This can be different from where your business is conducted but it must be a physical address where legal documents can be delivered.
Shareholders: You need at least one shareholder (who can be the same as the director). Private companies limited by shares must issue at least one share.
People with Significant Control (PSC): You must identify and register anyone with significant control. This includes those who own more than 25% of shares/voting rights or have significant influence.
SIC Code: You need to provide at least one Standard Industrial Classification (SIC) code that describes your business activity.
Now that you have all your information in order, it is time to start the application process. With our limited company accounts package, we will guide you through every step of the process to ensure you can make informed decisions and understand the implications of forming a limited company.
