If you own your own company and trade as a sole trader then you are personally responsible for everything, whereas a limited company exists in its own right, and it means that the owners are not directly responsible for the company's finances in the event of bankruptcy.
A limited company is generally strongly favoured by the taxation regulations. It is subject to tax but its profits are not normally subjected to higher rates of tax - unlike income tax.
When setting up as a limited company (preferably through Paramount Company Formations), you will need to consider shares and how much value is attributed to them.
After having registered your business, the next major decision is to whether or not you should then register for VAT - so you can then charge your customers.
Whether you’re buying a ready-made company or starting up your own, every business needs a name. And it is vitally important to choose the right one. The choice could be the difference between your company becoming a great success or disappearing into obscurity.
The appointment of a nominee company or shareholder will help keep the beneficiaries' identity safe and anonymous. There are many reasons why a beneficial owner will use a nominee company, whether it be for personal or business reasons.
An off the shelf company is a pre-existing company that is already registered with Companies House and ready for you to start trading.
You can register a business name and not use it, and there are a couple of scenarios where this may be the best course of action.
SME insurance provider Superscript recently reported on the most entrepreneurial towns in the UK, and the results may come as a surprise.
Starting your own business requires a lot of thought and planning, and there are many things you need to put in place before you begin trading. One of these things is insurance. Let’s take a look at the insurance you may need for your business.
* All timescales are dependent on how busy Companies House are and if their system is operating normally.
* All prices are plus VAT