Tips to Register LTD Company

There are more than 1.15 million limited business organizations operating in the United Kingdom currently. The popularity of a limited company is credited to the benefit of ‘limited liability’, meaning, in case of business failure, the personal assets of the director/s and shareholder/s cannot be touched. Therefore, most entrepreneurs like registering their businesses as limited companies. The incorporation procedure is quite easy, although long and time consuming. Follow the tips given below to register a ltd company.

Register Ltd Company: Business Guide

You can register a ltd company on your own or with the aid of an agent. For registration purposes, you would need to go through the following:

Registration at Companies House: Companies House is the sole authorized registrant of all company formations in the UK. Before a company is established as a limited organization, it needs to be registered with this authority.

Submission of documents: Some of the documents that need to be submitted for registration purposes are:

• Memorandum of Association: This would include the name and location of the company as well as the type of business.
• Articles of Association: This document would outline the directors’ powers and shareholder rights, among other things.
• Form IN01: This has replaced Form 10 and 12 from October 1, 2009 and requires details of the company’s official address, consenting secretary (-ies) and director/s and subscribers. In case the company is limited by shares, the entrepreneur would also have to mention the share capital details.

Legal Structure: Private limited companies and public limited companies have different set ups:

• Private limited – These cannot put forward shares to the public but are allowed to have as many shareholders as they want. Such setups must have one director and one secretary.
• Public limited – These can offer shares to raise funds. Such setups require two directors and one secretary.

There are certain requisites of limited companies. Having prior knowledge of these will prove useful after you register a ltd company. The requirements are:

• Registration at Companies House
• Annual accounts filing at Companies House
• Companies House also needs to be updated on a company’s basic details. To this end, the annual returns must be calculated.
• The HMRC (Her Majesty’s Revenue and Customs) has to be informed about the company’s profits or taxable income for the particular year.
• The company should file the yearly HMRC corporation tax return and make their due tax payments before the end of nine months.
• All employees of the company must pay the requisite income tax and the national insurance levied on their income.

Take the aid of the experienced professionals at www.companyformations247.co.uk to register your company and begin operating it within 24 hours.