A limited company is not for everyone and there are many things you should consider before proceeding down this route. However, if you decide to set up a limited company below are the main things you’ll need to consider;
- The type of limited company to set up. Most limited companies are limited by shares although some are limited by guarantee
- The name of the company. You can check on Companies House to establish whether a given name is available. You should also check to see whether anyone else has trademarked the desired company name and ensure that the domain is available to purchase
- Identify who the directors and shareholders are going to be. Directors essentially manage the running of the business and are appointed to do so by the shareholders. Most commonly in small limited companies, the directors and shareholders are the same
- Select a registered address. A company needs a registered address to act as an official address and point of contact. This service is offered by a number of businesses. Directors also need to publicly disclose their service address at Companies House. We’d recommend that they also utilise the service address as opposed to making their home address public
You’ll be able to set up the company via this link https://www.gov.uk/set-up-limited-company.
If you’d like to discuss any of the above or have any questions, please contact us via the link below
