Becoming Limited: The Benefits

Many small business partnerships don’t realise the benefits that becoming a recognised Limited company could have for them – especially in the economic downturn. Credibility, limited liability, and lower taxes to pay are just some of the outright benefits that becoming ‘Limited’ can have for you if you are currently operating as self-employed or as part of a partnership.

However, many people will initially dismiss the idea of becoming ‘Limited’ due to the fact that there is inherent money to spend in order to get a company registered with Companies House.

To make the benefits clearer, compiled below is a list of potential advantages that becoming ‘Limited’ could have for you:

–    You will avoid the risk of becoming liable for any financial issues
–    Any tax bills will be significantly reduced
–    The word ‘Limited’ resonates an air of prestige that will stand out against other businesses
–    Your company’s name will be registered in the company index, which means that it cannot be replicated and used by another company
–    Profits can be taken out as dividends, which will reduce liability to pay NICs
–    Company ownership is more defined, so it is clearer to see which shareholders are entitled to specific amounts of profit

At UK Company Registrations, we are company registration agents dedicated to providing budding businesses with everything they could possibly need – all in a simple package of your choice – to become ‘Limited’.

You have more chance of becoming recognised for your professionalism as a company if you undergo professional company formation, and can soon be on your way to reaping all the benefits that becoming ‘Limited’ has to offer.

What’s in a company name?

At UK Company Registrations, we specialise in guiding you smoothly through the entire process of company registration. We are the premium company formation agents in the country and we help you at every stage: from conception to registration. We can even help you choose an appropriate name for your new registered company. There are certain guidelines and legal restrictions over which name you are able to choose for your company.

Obviously, your company name cannot be identical to that of another firm on the company register. You also want to choose a name which is unique, resonant and memorable, and not just reflects your products and services, but also your company ethos. Of course, your chosen company name cannot be x-rated or offensive and you must bear in mind that the suffix ‘Ltd’  will follow any name you choose, so this may affect your decision. Professional titles such as dentist, doctor etc are subject to stringent control and approval. If your company operates internationally or is part of a conglomerate group, proof may be required before you include any of this information in your name.

Because of our vast experience in company registration and our proud record as company registration agents, we can expertly advise you of any potential pitfalls in the process and ensure that your company name is legal, approved and also makes your new business prominent and memorable. Your products and services may be superior to competitors but your company name is the first introduction to them, so we can guide you through this essential and important decision.

Online Company Registration

At www.ukcompanyregistrations.com we are proud to provide a comprehensive online UK company formation service. We specialise in company registration online and offer a range of packages to suit every size and type of new company. Our company formation packages are available in four versions: E-Formation, E-Formation Plus, Standard and Professional, so we guarantee that one of our outstanding company registration online packages is ideally suited to your requirements.

As you move along the company formation package spectrum from the E-Formation to Professional package, the services become more comprehensive and extensive. For example, The E-Formation package does not include a printed certificate of incorporation or a loose –leaf combined company register, but our Professional package is completely comprehensive, allowing peace of mind that your company is legally incorporated, completely compliant with all laws and also offers considerable extra bonus services and coverage. Of course, the more comprehensive packages are more expensive, but if you choose to open a Barclays bank account in conjunction with your chosen package, considerable cash back bonuses are available with each and every package.

We are proud to work in partnership with Barclays, the world’s local bank and we recommend that all of our customers consider engaging their fast track business banking services as they provide expert guidance and protection in those vital first few years of business trading. Online company registration is convenient and versatile, and at UK company registration, we guarantee that the entire process will be smooth, trouble free and rapid.  Please take a look at our website today and contact us for expert advice on company incorporation.

Easy Company Formation

At www.ukcompanyregstrations.com, company formation is made easy. Our parent company, Business Tax Centre (BTC) has a wealth of experience as expert company formation agents. The BTC company formation method is tried and tested and has been trusted by many prestigious companies over the years. The BTC method is both cost effective and extremely efficient.  First, simply enter all of your company information on one of our easy access online forms.

Then, we generate all of the legal forms and send them to Companies House electronically, saving you a considerable amount of time and money. Provided that all of your information is accurate and acceptable, Companies House can provide you with a company registration number within three to six hours, meaning that you will be fully legally compliant and ready to trade immediately. Our step-by step process allows you to research and check your company name, select your package from our four fantastic options, enter your firm’s details and then review and submit your application.

We can ensure that you glide through each stage of the process until Companies House approves your application and issues you with your certificate of incorporation.  BTC are amongst the most experienced company formation agents in the world, and we can help you achieve full incorporation so that you can be trading as a compliant company in a matter of hours. So, do not be daunted by the red tape of company formation, simply let www.ukcompaniesformation.com do all of the hard work for you and focus on your plans for market domination.

Essential Company Formation Information

It is important that all information which you provide in the company formation process is accurate and reliable. Company registration requires that officers of the company, who act as directors, secretaries or shareholders, supply certain personal details in order to achieve full legal compliance. Officers and shareholders must supply their full names, directors must also include all full names which they have used for the past 20 years, and all officers must supply their full residential addresses, (which are kept confidential on the companies register).

Furthermore, directors must supply a full address for their business service, their date of birth, nationality and occupation. Digital signatures are also required for electronic company registration and guidelines on these can be found on our comprehensive guide online.  At BTC, we guarantee that we will effectively close every loophole to ensure that there are no potential problems during your company formation. We are reliable and trustworthy and the nature of our work demands discretion and efficiency. We realise that company formation requires a great deal of effort and the co-operation of company officers and outside agencies.

We will work seamlessly with your company officers in order to help you achieve legal incorporation and trading capacity in a very short time.  Online company formation is cost effective and rapid and at BTC, we never compromise on the quality and excellence of our outstanding services.  We hope that we can become involved in the foundation of future success for your company and provide a positive launch for your unique products and services.

Superb Selection of Services

At www.ukcompanyregistrations.com, we provide online company formation and company registration services. Our electronic company registration services: E-Formation, E-Formation plus, Standard and Professional, allow you to register and incorporate your new UK Limited company easily, conveniently and effectively, often allowing you to begin trading legally in hours. We can guide you through the potentially complex process of company formation and offer superb bespoke advice at every step of the way.

Our dedicated online support agents are willing and able to dispense advice online at any time and can also be contacted by telephone. Our comprehensive services are also supported by our close relationship with Barclays, who provide business banking services worldwide to every size and type of company and organisation, from small sole-traders to large multinational corporations. We provide the best advice in the business in those crucial early stages of company registration and we take great pride and pleasure in guiding nascent companies toward commercial success.

Business registration and formation is the foundation of proper business practice and allows your young company to take root effectively before it spreads with success into different areas. BTC welcomes enquiries from business people who are on the verge of success but simply need guidance towards achieving legal trading compliance. Our superb selection of services is simply second to none. We strongly encourage you to put your trust in BTC each and every time, in order that we are able to take care of your every need and requirement in new business formation.

What do to with an unwanted business

Going through company formation can be a rewarding and exciting experience. However, there are occasions when you make a mistake. In such cases, you may want to reverse the company registration process so that the entity no longer exists and you do not have to deal with the legal side of being responsible for the organisation.

It may be the case that you had what you thought at the time was a brilliant idea for an enterprise, went through company formation and then discovered that there was a problem with the plan. For this reason, you may never have even commenced trading with the company. If you are in this position, you can apply to the registrar for the striking off of the business. This will require you to fill in a certain form and pay a fee of £10. If you are unsure about this process, it may be advisable to contact professionals to help you out.

After all, you do not want to make a mistake and think you have dissolved the company when in fact it is still registered. Another possibility is that you decide you no longer need a company that you have traded with. In these circumstances, you may be able to put the entity into voluntary liquidation and then apply for it to be struck off the register once its liabilities have cleared.

Just as you may well have needed help when going through company registration, it may be necessary for you to get expert assistance to ensure the process runs smoothly.

Plan your business to avoid failure

A rising number of people are going through company formation in order to establish themselves in business. In some cases, successful company registration can lead to an enhanced lifestyle, providing greater freedom compared with traditional employment. Also, it means individuals are able to build their own success, rather than lining the pockets of others.

If you have been tempted into company formation, it may well have been for one of these reasons. Alternatively, you might be among the many people who have lost their jobs as a result of the credit crunch and resultant recession. Whatever your reason for going through company registration and starting out in the intrepid world of business, you could be making the best decision of your life.

However, there are many issues you need to be aware of and pitfalls you will have to avoid. One essential part of running a firm successfully is having a structured and long-term plan. If you simply exist on a day-to-day and week-to-week basis, you may well find yourself floundering.

In order to exploit your area of the market successfully and stay afloat despite the tough competition, you need to be strategic. This is particularly the case when it comes to spending and how you will prioritise this. Sometimes, it can pay to invest in advice from professionals. While this costs money up front, it could end up saving you cash in the long run and may help to increase your profits.

Being organised in your approach and sticking to rigid and well thought out goals could make the difference between the success and failure of your organisation.

Limited companies are separate entities

The term limited liability is a common one in business and most people have heard of it. However, not everyone is fully aware of what the term means. If this applies to you, you will need to find out before you undergo company formation. The main point about such operations is that they are separate entities, meaning they exist on their own in legal terms and are separate from those who underwent company registration to set them up.

Establishing an organisation of this kind through company formation can have significant benefits. It means that as an owner, you would have protection if it fails. So, if your company goes into liquidation, you and any other owners will only have to pay what you have already paid and what you have agreed to pay towards settling its debts.

In most cases, this is the par value of the already issued share capital. Although when you are going through company registration the last thing on your mind will be the organisation failing, it pays to think issues like this through. After all, you do not want to lose your home, car and other such things in addition to your business if it goes under.

This may be a particular risk at present given the tough nature of the economic conditions affecting the country. If you are keen to find out more about limited liability companies, you can access a wealth of information online and there are also books and magazines that contain valuable information.

Are you organised enough to run a business?

When you engage in company formation, you are taking on a responsibility to fulfil certain legal requirements. This means that you have to ensure you are organised. Of course, for some people, this proves impossible and they are constantly in a state of disorder and confusion. For example, after you have gone through company registration, you will need to make sure you file your financial statements on an annual basis.

The information must include a profit and loss account, a balance sheet that has been signed by the director and a director’s report, which has also been signed. If you fail to adhere to this rule each year after your company formation, you will be subject to penalties. However, it is important to note that if your business is classed as a small company, you may be able to file abbreviated accounts only.

In order to ensure you are able to perform this task, it is vital that you remain organised throughout the year and have reminders that are brought to your attention when it comes time to submit the information. As long as you are clear in your records and remain on top of your business and its dealings, you should have no problem in doing this successfully.

But a surprising number of small to medium-sized enterprises fail to achieve this level of order and many are behind when it comes to their financial statements. Before you go through company registration, you should consider whether or not you are cut out for this aspect of business.