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How to set up a limited company?

Remember each of the following steps below:

  1. Select a limited company type: there are 2 main types of limited companies to choose from: private and public.
  2. Choose the name of your company: different rules are applied to sole traders and business partnerships when choosing a name for a company.
  3. Appoint a shareholder and director of the company: it is mandatory to appoint a director and a shareholder to run the company successfully.
  4. Create a ‘memorandum of association’: initial shareholders sign a legal statement agreeing to form the company.
  5. Create ‘articles of association’: either standard articles or an article you have written yourself can be uploaded when your company is registered.
  6. Limited company registration: Companies House requires you to register your company under an official address and select a SIC code (Standard Industrial Classification code).

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What services do they offer?

  • Payroll: The payroll services are catered to the needs of small businesses across the UK. The payrolls are handled by specialist accountants who follow strictly the HMRC regulations. In addition, the accountants are Xero certified, which enables you to convert to an online payroll system allowing you to track and monitor from anywhere.
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  • Statutory accounts: Based on the company’s financial records for the upcoming accounting year, statutory accounts are thoroughly prepared by your allocated personal tax advisor. Annual accounts and tax returns are submitted to HMRC punctually. You will be informed on the updated legislation and revised accounting standards set by FRC.
  • VAT returns: The tax returns service is for businesses of all sizes, big or small across the UK. Input and output tax returns will be carefully handled and all quarterly or annual submissions will be facilitated to the HMRC. Updated records of the sales and purchases of your business in the previous taxation period will be maintained.
  • Self assessment: Assistance and guidance will be offered during filing annual accounts and completing self assessment tax return forms. Self assessment services are ideal for everyone whether you are self employed, a company owner or a London’s sole trader.
  • Online company formation: Guidance and expertise will be offered to you whilst registering your company online. A team of experienced accountants will be available at your disposal and will be responsible for communicating with the authorities such as Companies House and HMRC.