How to Set Up a Limited Company

Ltd company

Aside from the sole trader route, the limited liability company is the most popular business structure in the UK.

With a limited company, the liability of company directors is ‘limited’ in that the company’s finances are separate from the personal finances of the business owner. This is not the case for those who run their business as a sole trader (self employed).

Limited company shareholders are not responsible for any debts run up by the business, although banks may ask company directors to provide loan guarantees for commercial loans or credit taken out in the company’s name. (more…)

Rules you must follow when naming your limited company

If you are setting up a limited company, you should think carefully when choosing your company name. Alongside the business reasons for choosing an appropriate name, there are also a number of company naming rules you should be aware of.

If you breach certain naming rules, Companies House will simply reject your company formation application.
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Company formation – what forms do you need to fill in?

If you are considering setting up your own limited company, the prospect of ‘dealing with the authorities’ may seem daunting. In reality, the company formation process is very simple – whether you apply yourself, or use a registration agent to set up the company on your behalf.
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What is a Memorandum of Association?

The Memorandum of Association is one of the three documents you need to complete when registering a new limited company. The other two items you need to submit are Form IN01 and the Articles of Association.
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The different ways to set up a company

If you want to set up a company, you can form it yourself via Companies House, use a formations agent, or an accountant will typically be more than happy to take care of the incorporation process on your behalf.
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