You can run your business as a company in the UK. There are different types of companies and classification depends, among other things, on who owns the company and the extent to which those people responsible for the company’s liabilities.
Types of companies in the UK
The most common types of companies in the UK are as below:
- Private company limited by shares
- Public limited company
- Company limited by guarantee
- Unlimited company
- Community Interest Company
A private company limited by share is the most popular type of UK incorporation company for small businesses. There is no minimum capital requirement other than one share must be issued at incorporation. This is the most suitable type of company for the small businesses in the UK.
How to form a Private Limited Company?
A private limited company can be registered with Companies House (a regulatory body in the UK). This is also called Company Formation or Incorporation. The following information is required to incorporate a company with Companies House:
- Proposed company name
- Registered office address of the company
- Names of the directors and their addresses
- Details of the company’s shares
- Nature of the trading activities
- Details of people with significant control over your company
If you would like to form a private limited company in the UK, our experts can help you to incorporate your company within 24 hours.
Responsibilities of directors of a private limited company
As a director of limited company, you will have certain responsibilities:
- Keep company records and report any changes to the relevant authorities
- File your annual company accounts with Companies House
- File your Corporation tax return HMRC
- Pay corporation tax
- Register for self-assessment and send a personal tax return every year
How we can help you?
At Martax, we can help you with the following:
