Free Company Formation if you choose one of our accounting packages.

Are you looking to start a business and form a ‘Limited Company’ in Ealing & London?

What is a Limited Company?

In simple terms, a Limited company is a set up where its owners or shareholders are only responsible for any company’s debt to the extent to the amount of invested capital into the business. This is a doctrine where a company is a separate legal entity to its shareholders and protects shareholders in terms of their finances in times of financial difficulties or liquidations etc.

Why should I form a Limited Company?

Different people form limited companies due to various reasons. Some of the main reasons are as below;

1. Earning income in the most tax-efficient way
2. Having limited liabilities on owners (shareholders), means personal assets are protected
3. Gaining high credibility by going to the professional status of a ‘Limited Company.’
4. Saving money by investing in a pension scheme through Limited company route

How Long does it take to set up a Limited Company?

After the full information received from our client, it usually takes half an hour to our staff to review, complete and submit the online application. Normally, we receive a response from companies house within three to six working hours. However, it may take longer on an occasional basis due to workload in ‘Companies House’.

Which Company type should I choose?

There are many business structures, but four main structure are given below;

1. Private company limited by shares; These are legally separate businesses and make profits.
2. Private company limited by guarantee; companies have guarantors and guaranteed amounts at time of incorporation. They are ‘not for profit’ organisations. Profits made here invested back into businesses.
3. Limited Liability Partnership (LLP); They are hybrid of a partnership and Limited company.
4. Public Limited Company (PLC); They can sell shares to the public and trade on the stock markets, unlike private limited companies.

Of course, there are specific requirements to set up and advantages and disadvantages to each structure. Our experts can advise you by reviewing the situation on an individual basis.

How do I open a Business Bank Account?

Once your company is formed, you need the business bank account so that your customer can pay you and similarly you can pay your suppliers from your business bank account. We are partners with a few banks and assist our clients in forming their business bank account.

What is a registered office address in company formation?

You are required to provide the address where official documents or legal notices are sent by Companies House and HMRC. This address must be based in the United Kingdom.

We offer all our clients to use our address as their registered office address. We forward all the correspondence via email to our client on a daily basis.

Can I close my company should I change my mind later?

Of course, you can strike off or close down your Limited Company. However, you may need to prepare a final set of accounts to Companies House and HMRC if you traded and earned income. We provide professional advice and cost-effective services in this whole process.

What would be my duties & responsibilities as a Company Director?

Main legal responsibilities of company director include;

1. Registering the Limited Company with Company House & HMRC
2. Company Accounts submission to Companies House and HMRC on a yearly basis
3. Confirmation Statement submission on an annual basis
4. Corporation Tax return submission and Tax payments to HMRC
5. Submission of Self Assessment Tax Return to HMRC each year.

We help deliver all the above compliances on behalf of our clients in a very cost-effective process.