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A limited company is a recognised legal entity which has a separate legal existence from the person(s) who own the company (shareholders) and the officers (company secretary and directors) that are employed by it.
The company pays corporation tax on any profit it makes and can share the remaining profit after taxation to its shareholders (dividends).
A limited company must be registered with Companies House and let HMRC know when the company starts trading. Each year the company must also:
The company must also register for VAT if its sales exceed the VAT turnover threshold.
Directors of a limited company must also:
Brash & Co can assist with:
You can form your company through Brash & Co Accountants Ltd for only £75 - click here to find out how to incorporate your company.
If you would like more information or would like to speak to us direct then call us on 01704 551889. Or if you would prefer, ask us a question online.