Your Business With James Caan 2017 - 286
Get off to a
Every year more than 500,000 new limited companies
are incorporated in the UK. Are you ready?
On your marks...
Limited companies offer many benefits,
including securing a business name, financial
protection, enhanced professional status and
more allowances when it comes to offsetting
business costs against earnings for tax purposes.
These benefits do, of course, come with a
number of legal obligations. As a company
director, you'll have to comply with legal
duties to Companies House and HM Revenue
& Customs. To register a business as a limited
company, you need to provide the following:
A good company name Your name helps
build your reputation. Use a company name
checker to see if your desired name is available.
A company director At least one person
needs to be listed as company director.
They must be over the age of 16 and not
an undisclosed bankrupt.
Shareholders Private companies are owned
by shareholders and divided into shares.
Persons of significant control Someone
who directly or indirectly holds more than
25% of the shares and/or voting rights.
Registered office address Where all mail
from Companies House and HMRC is sent.
This address is made public, so you may want
a registered office or PO box address.