Advantages of a Private Limited Company

How to Start a Business in the United Kingdom

Starting out by selecting the proper business entity (or making sure your existing business is operating in the appropriate form) and knowing what is required, even if the business is very small, will not only make the operation of the business much easier, but will also be beneficial in connection with the potential transition for future expansion, restructuring and securing financing.

Incorporating a new company or altering the structure of an existing corporation is something that requires a great deal of thought. If you have a partnership, you may wish to analyse the potential difficulties and implications of the liabilities involved when changing. Limited companies may need to consider the shareholders' rights if they are endeavoring to make any changes to the company structure. It is also common that company directors will at some point wish to offer valuable employees more responsibility and power whilst protecting their company if those employees decide to leave.

Whether you are starting a company in the UK or need assistance with a new limited company establishment, we can help. Coddan offers fast company starting-up and competitively priced online company set-up, and you will receive the full set of corporate documents for every company you order. We submit your company documents electronically to Companies House, we can dispense with much of the inconvenience of paper forms and can offer you fast same day LTD company formations service.

You will need to address many legal issues when considering finances, customers, generating income, and taking on employees when opening a company limited by shares.

You will have to take into consideration the implications of the company name, and think about the best type of company structure for your business.

Coddan can offer its clients the guidance and knowledge that we have accumulated through years of experience within the business startup industry. Our team of professional business advisors handle all aspects of entities creation on a daily basis and can assist you with all your business needs.

The purpose of this article is to provide a general overview of the characteristics of the basic forms of business entities and the requirements for their incorporation. It is not intended to provide a review, summary, or analysis of all aspects of a particular entity or applicable regulations, statutes, requirements, and issues in connection with business set-up. Selection of the form of a business entity is made from variety considerations, including ownership and management structures, tax and limiting liability.

With years of professional experience, we have built an excellent reputation for limited company registrations. The incorporation of a private company is easy and straightforward. No permission is required to start a business presence, although there is some regulation of the use of business and trading names. All companies established are required to do so with Companies House and have to submit annual accounts as well as annual returns. Overseas companies establishing a branch or place of business in the United Kingdom must register and file annual accounts.

If you are thinking of starting a business there are a number of factors to be considered. You must decide the type of business and the all-important question of finance but also the various legal issues.

There are a number of ways in which you could open your business, the most common being: sole trader, limited partnership, limited liability partnership or limited company. The advisors in our company corporate department can guide you through the advantages and disadvantages of each type and enable you to make an informed decision about which one is right for you.

For example, a limited company gives you the corporate shield of limited liability, eliminating much personal risk, but running a limited company also attracts greater administration time and costs. Being in partnership has its own advantages and disadvantages. Some people prefer to work for themselves as sole traders, but this also carries much personal risk.

Having taken you through these options, Coddan has the expertise to help you set up your business by forming a limited company, forming an LLP or drafting a partnership deed for you.

Whether you choose to run your business as a sole trader, as part of a partnership or as a shareholder of a limited company, you must also ensure that you comply with the Business Names Act 1985. We can give you guidance on complying with the requirements of that legislation and the other rules and regulations that will apply to your new business.