If you don't know how to draft the minutes of the first board meeting we can advise and prepare the appropriate legal documents for your signature.
It is a common concern that if your company begins to fail, you could be affected personally with debt. Registering as a limited company can therefore give you added protection should things go wrong.
The Companies Act has many safeguards for your protection, and all limited companies are now formed in accordance with its provisions. By law a limited company is a separate legal concern, quite distinct from its shareholders and directors.
Stamping your company name as your own to protect the name from competition is highly important. Unlike a business name or partnership, registration protects your limited companies name. This means by law, no-one else can use it.
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.
* All timescales are dependent on how busy Companies House/HMRC are and if their system is operating normally.
* All prices are plus VAT
* See terms and conditions regarding release of codes