Limited Company

A dormant company is just a standard limited company that doesn’t trade and has no accounting transactions. There are two main situations where owning a dormant limited company can be useful for start-ups and small business owners;
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One of the first and most important decisions you make when you set up a new business is to decide what type of legal structure you should work under. So which business structure is best for you?
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Although the sole trader route, which is commonly referred to as being self employed, is the most popular way of running a business in the UK, there are significant advantages to operating via a limited company.
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Incorporation is the process of creating a company structure – a new legal entity which is distinct from the individuals or shareholders who formed it.
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When setting up and running a company, you will have regular involvement with Companies House. In this article, we look at the main functions of Companies House and what obligations limited companies have.
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The type of structure you use will depend on a number of factors unique to the business you want to start. In this article, we look at the main structures – sole trader, limited company, partnership and LLP and highlight the pros and cons of using each one. (more…)

There are a variety of reasons why businesses or consultants may choose to operate via a limited company.

For some, the protection limited liability offers is a key benefit. For others, the potential tax benefits are the main reason why they choose to be a limited company over a sole trader.
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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 official company naming rules you should be aware of. (more…)

If you have set up in business via a limited company, there are a number of duties you will have – as well as legal and financial responsibilities – if you are a director of the company.

This article explains who can be appointed as a director, and what your duties will be if you are appointed to the role.
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By law, every company in the UK must have a registered office. This is a physical address in the UK where the company can receive documents from Companies House and other organisations.
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The role of a limited company secretary is essentially an administrative one, but can involve a number of important responsibilities depending on the wishes of the company’s directors.
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One of the first tasks you will have when starting up your business will be to decide whether to set up a new limited company, or become self-employed. If you choose to go self employed, this could be either as a sole trader, or as a partner in a partnership.
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Aside from the sole trader route, the limited liability company is the most popular business structure to trade under in the UK.
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An LLP shares many of the features of a partnership, but also offers its members limited liability from any financial problems the business may face in the future.
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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 private limited company is the most popular way to incorporate a business in the UK. Here we look at the key features this type of business structure provides.
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When you form a new limited company, one of the three documents you need to provide is the Articles of Association.
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One of the first things all business owners have to do is to choose a good name for their enterprise. Unlike other decisions you may make along the way, your business name could be with you for quite some time, so it is worth spending time to get it right first time.
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A limited company can have many classes of shares. These can be ordinary shares, preference shares and redeemable shares. The articles of association usually set out the rights of these shares while allowing the directors to issue shares with such rights and restrictions as determined by ordinary resolution.
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When you start a business with someone else, it’s always a good idea to lay down some rules on important issues, such as; how you will run the company, your respective responsibilities and what happens if someone wants to leave the business. Agreeing on how you will handle these, and other important matters, will save a lot of anguish down the line.
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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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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.
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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.
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Since 6th April 2016, nearly all UK companies have been required to maintain a register of Persons with Significant Control (also known as a “PSC register”).
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All UK limited companies, large and small, have been required to file an Annual Return (AR01) with Companies House at a set point each year.

From 30th June 2016, as part of the Small Business Enterprise and Employment Act 2015, the Annual Return was replaced with a new document called a ‘Confirmation Statement’.
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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.
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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.
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If you are setting up a limited company for your business you will want it done quickly, professionally and without any hassle. That’s why we’ve teamed up with one of the UK’s leading company formation agencies to provide you with an instant online service.
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All limited companies in the UK must submit an Annual Return form (AR01) to Companies House every year.

The Annual Return provides a snapshot of general information about your company, including details of directors and company secretary if you have appointed one, the registered office, share capital and shareholdings.
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One of the great advantages of trading through a company is to take advantage of ‘limited liability’. This means that, unless you have personally guaranteed a liability – for example to a bank or landlord – then as a director you are not responsible for the company’s debts if it goes bust.
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To form a limited company in the UK, you must complete Form IN01. In this article, we look at the information Form IN01 captures, and how this information is used by Companies House.
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