Made possible by

Set Up a Private Limited Company in UK

You can set up a private limited company to be the platform for running your business.

Once the company is registered you’ll get a "Certificate of Incorporation", this confirms that the company legally exists and shows the company number and date of formation.

Limited to the shareholders

Sole traders are personally responsible for their business debts, but the liability in a private company is usually limited to the shares of the shareholders. The liability depends on the type of company being created.

A private company limited by shares means that the members’ (shareholders) liability is limited to the original value of the shares issued but not paid for.

Every financial year, the company must:

• Put together statutory accounts
• Send Companies House an annual return
• Send HMRC a company tax return
• The company must register for VAT if you expect its takings to be more than £77,000 a year.

A director of a limited company must:

• Fill in a Self-Assessment tax return every year
• Pay tax and National Insurance through the PAYE system if the company pays you a salary

Register your limited company

All limited companies must be registered (incorporated) with Companies House. To do this you need:

• The company’s name and registered address
• At least one director
• At least one shareholder
• Details of the company’s shares - known as "memorandum of association"
• Rules about how the company is run - known as ‘articles of association’

Find links to the relevant registering: www.gov.uk  + search: Limited Company Formation

Any time is a good time to start a company.
– Ron Conway, Noted Startup Investor