Goods and Bads
Limited Company in UK comes with its own pros and cons which is very important for decision making purposes
Advantages
- Limited Liability Protection for shareholders
- Separate Legal Entity
- Ability to raise capital through the issuance of shares
- Enhanced credibility
- Perpetual existence
Disadvantages
- Compliance and regulatory requirements
- Public disclosure of financial information
- Directors' legal responsibilities and potential liabilities
Process
Step by Step Process
Choose a Name
Select a unique name for your Limited Company that complies with UK Government naming requirements.
Appoint Directors and a Company Secretary
Appoint at least one director and optionally a company secretary.
Registered Office Address
Provide a registered office address in the UK where official correspondence will be sent.
Prepare Memorandum and Articles of Association
Prepare and agree upon the company's governing documents, the Memorandum and Articles of Association.
File Incorporation Documents
File the incorporation documents with Companies House, including Form IN01.
Register for Corporation Tax
Register the company for Corporation Tax with HMRC within three months of starting business.
Tax and Compliances
Following are the Compliances that will be required
Corporation Tax
Limited Companies are subject to Corporation Tax on their profits. The current Corporation Tax rate is 19%.
Annual Filings
Limited Companies must file annual accounts and a confirmation statement with Companies House.
Value Added Tax (VAT)
If the company's turnover exceeds the VAT threshold, it needs to register for VAT and comply with regular VAT filings.
Payroll Taxes
Companies must register as an employer with HMRC and operate PAYE to collect Income Tax and National Insurance contributions.
Documents Required
Following are the documents that will be required
Proof of Identity
Copies of passports or driving licenses of directors and shareholders.
Proof of Address
Copies of utility bills or bank statements showing the address of directors and shareholders.
Deliverables
The service package includes a comprehensive list of deliverables which includes the following.
Certificate of Incorporation
Memorandum and Articles of Association
Company Registration Number (CRN)
Share Certificates
Registered Office Service
Corporation Tax Registration
State Compliance Checklist
Business Bank Account Setup Assistance
Client Testimonials
Trusted by Business Owners
Real feedback from entrepreneurs who chose Taxkriya for their business needs.
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C3 Property Store Private Limited
"Professional team that made company formation straightforward. They listened to our requirements and guided us to the right structure. Smooth process throughout."
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Cognikey Technology Solutions Private Limited
"One of the smoothest LLC formations I've experienced. The team, especially Mr. Gowtham, provided exceptional support from start to finish."
Ganta Sai Akhil
Sketchz Engineering LLC
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