Company formation is a vital stage of your business to get right.
Once you have decided that a limited company is the right option for you, it is important to seek professional advice, as even the most simple of errors can cause long-term issues in the future.
The key differences of a Limited Company are that:
- It is legally separate entity from the Directors who run it and if different the shareholders who own it
- Business finances are totally separate from the personal finances of the Directors and shareholders
- A Limited Company retains any profits it makes after paying tax
- Those profits are then available for distribution to the shareholders as a dividend, which becomes the shareholders personal income for personal tax purposes.
Is a Limited Company my best option?
We will evaluate your personal position and likely business profitability and service offering to assess if a Limited company is the best route for you. If it is, we can help guide you through the process or alternatively, take the stress out of company formation and incorporate your company on your behalf. This will ensure it is set up exactly as you have described.
How we can help
- We will explain why setting up a Limited Company structure is the best option for you
- We will incorporate your company with Companies House quickly and efficiently, enabling you to concentrate on your new business, knowing the necessary registrations are in safe hands.
- We will consider your business structure requirements, to ensure the share structure will work for you and your personal position.
- We will also take care of any HMRC registrations required such as VAT, PAYE scheme, CIS registration and any other compliance matters.
For more help in making the most of your business structure contact your local MFW office for help. You can also search our website for details of other accounting, taxation and business development advice services.
Coronavirus COVID-19 Hub