Get off to a running start 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.