Setting up a limited company marks an exciting (often daunting) milestone for any new business. The section provides step-by-step guides to walk you through the entire company formation process.
Learn the pros and cons of a limited company structure, including limited liability and tax efficiency. Understand director and secretary roles and responsibilities. Get tips on choosing a unique (and legal) name for your company.
Learn about articles of association, share allotments, director appointments, share certificates and statutory registers.
To find out more about setting up a company, try these popular guides:
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.
Board minutes are a vital part of a successful business. They ensure directors are upholding their duties and act as a reminder for decisions made during board meetings.
When a company goes into liquidation, it’s generally understood that employees are entitled to redundancy pay. But what about the company directors themselves? Ultimately it is their business that has failed, and their livelihood that has collapsed.
Many businesses start out as owner-managed operations with one person owning all of the shares as well as being the managing director. However, as businesses grow, they often want to bring in other people as shareholders; maybe in return for an investment or possibly to a manager that they want to incentivise.
The Companies Act 2006 enacted a wide range of reforms to the way company law is governed. It set out the duties of company directors for the first time, and has simplified some elements of company incorporation process. In this summary, we look at the key elements of the Act from a company director’s point of view.