A limited company is a company in which the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company.
Limited companies may be limited by shares or by guarantee, and the former of these, a limited company limited by shares, may be further divided into public companies and private companies. Who may become a member of a private limited company is restricted by law and by the company’s rules.
The registration of companies in the United Kingdom is done through Companies House, which operates offices in London, Cardiff, Edinburgh and Belfast.
This differs in several ways to running a small business as a sole trader, and there are important and sometimes costly distinctions that you should be aware of.
Jon Essam & Co Ltd Chartered Accountants are highly experienced in all types of company formations, and can advise and set-up your new business with you in a way that is both beneficial and tax efficient for you.
Please call us on 01832 730280 to discuss your individual requirements and we can review your business requirements with you, to help decide on the best way forward for your business.