Setting Up A Limited Company

Setting up a limited company in the UK involves several steps, but it’s a relatively straightforward process.
Here’s a general guide to help you get started:

1. Pick a Name: Choose a name that reflects your company’s identity.
Make sure it’s not already taken by another business – you can check availability on the Companies House website.

2. Choose Directors and Shareholders: Select who will manage the company (Directors) and who will own shares in it (Shareholders) You can have one person filling both roles if needed.

3. Register Online: Visit the Companies House website and complete the online registration process. You’ll need details like your company’s address, director’s information, and share structure. It’s all done step-by-step, and there’s guidance available if you get stuck.

4. Pay The Fee: There’s a small fee to register your company, which you can pay securely online as part of the registration process.

5. Sort Your Taxes: After registering your company, you’ll need to register for corporation tax with HMRC. This can also be done online, and HMRC will provide guidance on what you need to do.

6. Get a Business Bank Account: Open a separate bank account for your business transactions. It helps keep your personal and business finances clear and makes accounting much easier.

7. Stay Legal: Make sure you fulfil all legal obligations, like filing annual accounts and returns with Companies House, keeping proper accounting records, and meeting tax deadlines.

Remember, if you’re unsure about any steps or need advice, there are plenty resources available, including online guides and professional services.