What is a Limited Company Formation?
When setting up a business you will have to choose between a number of business structures such as sole trader, limited liability partnership and limited company. UK PLC specialise in Ltd company formation and there are particular advantages to this option but this is why it it in your best interest to allow us to advise you in this area before you actually pay to have this done so you can be certain you have the right option for YOU and your Business !!!
Limited liability which means your personal assets are protected in the unfortunate event that something goes wrong with the company.
Limited status
provides credibility and confidence to suppliers and customers
as your company details are available for all to see on the
Companies House database.
Once 'incorporated' your company name will be protected as it is
listed in the register of companies maintained by Companies
House, preventing anyone else from trading under that name.
CBSUK can do all this for you all you need to do is to click on the image and fill in the form and we will get your documents to you if you fill the form in before 11am the same day during weekdays only! we will send and set up your new company that is providing the chosen company name is available direct from companies house and send you via email why do it yourself when we can be competitive and we offer advise at same time if you are unsure which sort of company you need setting up click here or call us on the number shown to your left thanks.
Sole Trader Status
Although we do not offer this as a service in itself there are a
number of ways we can help.
A sole trader is the simplest, non-regulated form of trading
where an individual acts solely on his own account; he or she makes
all the decisions on business matter and takes all the risks. The
main advantage is that the sole trader takes all the profit
generated by the business but the disadvantage is that they are also
personally liable for all the debts of the business. Apart from
registering as self employed with HM Revenue and Customs there is
little or no paperwork involved to start trading.
To register, you need to fill out and complete form CWF1 from
the HMRC site.
If liability is a concern
you may like to consider other options such as dormant company,
limited company or LLP.
A limited company is considered to be a separate legal entity
from its shareholders. The Companies Act provides the legal
framework under which companies are incorporated and the regulations
under which companies must operate. Companies are subject to
statutory regulations which include the filing and reporting of
information to Companies House, and, in this respect, are more
onerous to administer than sole traders or partnerships. However,
the benefits of forming a limited company greatly outweigh the
disadvantages in that the shareholders have limited liability
because they are not personally responsible for the debts of the
company, only for the full amount payable for their shares and the
name of the company is protected because it is considered to be am
asset of the company property after incorporation at Companies
House.
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Income tax
As a sole trader you will need to submit an annual self
assessment form to the Inland Revenue and keep accurate and
up-to-date records of all business transactions and accounts.
You will also pay income tax and national insurance
contributions on any profits. Losses can be offset against tax
on other income.
The Inland Revenue will send you a Self Assessment tax and NI
form to fill in.
VAT
Though you will have registered as 'self employed', you won't
automatically be VAT registered.
Once you reach a certain annual turnover (£61,000 at the time of
writing) you will need to register for VAT which we can help you
with - please see VAT Registration
Service options
- 3-hour online formation
- Full trading limited company
Service options
- 3-hour online formation
- Full trading limited company
- Fast-Track banking
- Mamut Startup Pack
- Printed certificate of incorporation
- Registered office
- more info . buy now
Service options
- 3-hour online formation
- Full trading limited company
- Fast-Track banking
- Mamut Startup Pack
- Printed certificate of incorporation
- Registered office
- Maintenance of
statutory books - more info . buy now
