Alexander Ene also provide Limited Company Formation services. The formation of a new Limited company is not as straight forward as it used to be and require that company law, HM Revenue & Customs regulations, money laundering regulations and practical business issues are carefully considered from the outset. It is important that a Limited company is properly set up from the beginning in order to avoid omissions and errors which could prove expensive to rectify later.
As Accountants in London with many years experience in company formations and maintenance,
We can form a Limited company using your own name or from a list of ready made names. Our service in the area of Company Formation include:
– Search to ensure that your chosen name is available.
– Completing the necessary forms to ensure that company directors and secretary are properly appointed and registered with Companies House.
– Preparing minutes of the first director’s meeting.
– Completing forms for the allotment and issue of shares to shareholders.
– Completing stock transfer forms.
– Ensuring that the accounting reference date is convenient for the client.
– Ensure proper setup for corporation tax with the HM Revenue & Customs Form.
– Register the company for VAT if required by the directors.
– Register the company for PAYE where necessary.
Advantages of Creating a Limited Company
Limited company is one of the most widely used business structures in the UK. Many new businesses start their endeavour as a Limited company. There have actually been several sole traders as well as partnerships that have later on transformed to Limited companies. This is basically as a result of the variety of advantages that comes with this status.
Advantages of using a Ltd Company
Limited companies provide Limited liability:
This is the main advantage of carrying out a business as a Limited company. Limited liability on directors and investors eliminate an excellent amount of failure-related anxieties from the directors, therefore assisting them to operate easily. With a sole trader, partnership or any other non-Limited set up, personal possessions are at danger in the event of failure. So long as a Ltd company is operating legitimately, according to the conditions set out in the Companies Act, the officials can run without anxiety of individual possessions.
Expense of running a Limited Company:
Even though the costs associated with the administration and running of a Limited company is not considerably more than non-limited business, they certainly exceed the advantages of being a sole trader.
Can safeguard company name with a Limited Company:
A Limited company is not required to start trading within a defined time period after its enrolment. This enables potential business owners to register their service names in readiness of a future outcome. This way, setting up a Ltd company ends up being an affordable technique to protect the name of an organisation for future usage, given that no two Ltd businesses are allowed to have the exact same name.
Operating within this structure gives some sort of confidence to entrepreneurs, creditors and clients. In some cases, large companies will not do business with a business that is not Limited. This is because they do not have confidence in their ability to provide the goods or services that they require.