Over the past few years, demand for limited company registration has increased considerably, in the UK. The current economic climate means that more and more people are considering working for themselves. The vast majority set themselves up as sole traders to begin with. However, when they become successful and turnover increases many decide to set themselves up as a limited company.
The Process of Limited Company Registration
Whilst the process of limited company registration is not difficult, for many it can seem quite daunting. In order to carry out the registration you need a few documents and details to hand. You will need to have chosen a company name which has not already been registered by somebody else. You will need to provide the government with the name of the company owner and that of at least one director and one shareholder. In addition, you will need to draw up a memorandum of association that outlines details of company shares. You will also have to work out and draw up articles of association. This is simply the rules by which the company will be run.
You can send all of these documents direct Companies House or register your company online. However, understandably quite a few people seek help with registering their company.
Why Seek Help With Limited Company Registration?
This is quite a wise move. How you set up your company has a very big impact on how you can trade in the future. Therefore, it makes sense to seek advice from people who register companies on a daily basis. They fully understand how to word your memorandum of association to ensure that you have the flexibility you need to expand in the future. On top of that, because they deal with Companies House on a daily basis they can often speed up the process of registering your company. Many of these formation firms also offer you help with things like setting up a business bank account and finding an accountant to do your books. Every limited company, by law, has to submit accounts to Companies House and a company tax return to HMRC.
To find out more about limited company registration and get help setting up your own limited company visit The Formations Company website.
