01  Should I trade as a sole trader, partnership or ltd company?

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Being a sole trader is the simplest way to run a business: it does not involve paying any registration fees, keeping records and accounts is straightforward, and you get to keep all the profits. However, you are personally liable for any debts that your business runs up, which make this a risky option for businesses that need a lot of inve...

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 02  What are the requirements to set up ltd company?

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UK limited companies have very few requirements or restrictions which is what makes them a simple yet flexible solution for many businesses. The very minimum requirements are: There must be at least one director appointed;

All directors must be at least 16 years old; The company must have a registered office address in the UK...

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 03  How to chose a company name?

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Before you incorporate your company you will need to choose a name. The name you choose must not be identical or the ‘same as’ another name appearing on the index of company names, even if you are already using the name as a sole trader or partnership. Companies House will not register a company in a name if:​  its use...

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 04  Who can be a director of ltd?

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The only restrictions that prevent anyone becoming a director are: they must not have been disqualified from acting as a company director; they must not be an undischarged bankrupt; they must not be under the age of 16.

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 05  Do my company need company secretary?

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Since 6 April 2008, private limited companies do not have to appoint company secretary.Existing private limited companies may retain a company secretary if they wish and newly established companies can opt to appoint one.

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 06  Who is a shareholder and what is share capital?

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When people form a company, they decide whether to limit the members’ liability by shares. As every share counts as a vote in the company, the more shares you have the more votes you have. On registration of a company limited by shares at Companies House, the shareholders must agree to take some, or all, of the shares. The...

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