The whole issue of incorporating a Company is vast, there is lots of technical information, rules, laws and tax implications involved with running a Ltd company. At Evans & Co Accountants we can take the most inexperienced Business Person and guide them through the complex process of the corporation procedure. As a hand holding exercise - we will guide you every step of the way.
We believe that a Limit company needs to be set up on a sound legal footing, incorporating a Business is 'usually' one of the biggest decisions that a Business owner will make and we're here to make sure that you get the decision right by helping you decide whats best for you. It is a myth that Ltd companies are just for larger Businesses.
Incorporation's suit small businesses just as easily as larger organisations/businesses. At Evans & Co Accountants your Business is assessed on an individual basis and we will tell you honestly if your Business is suitable for incorporation or not. We assess not only the Business but also the client and an overview of the two.
Registration documents and forms
Evans & Co Accountants can arrange and sort out all of the registration documents and forms for you which are required when you set up as a limited company in the UK. This includes:
* Application form IN01 which registers a company. This form includes the company's registered office, type of articles, the names and addresses of its directors, statement of capital and initial shareholdings
* Memorandum of association giving the names of each subscriber and authentication that they have agreed to become members of that company
* Articles of association. This describes how the company will be run, shareholders' rights, any restricted objects and details of the directors' powers.
Company directors' responsibilities
Directors are responsible for preparing and delivering documents, on behalf of the company, to Companies House as and when required by the Companies Act. These include, in particular:
* the annual return
* the annual accounts
* notification of any change in the company's officers.
* notification of a change to the company's registered office
* allotment of shares
* registration of charges
Setting Up and Registering
You must register your Business with the Registrar of Companies at Companies House before your Business can begin operating as a Ltd Company.
To ensure incorporation is right for you it is recommended that you seek professional advice. Let Evans and Co Accountants incorporate your Business while offering advice on the subject.
There are several other things you must do as well as registering your business as a company to put it on a proper legal footing. Evans & Co Accountants can advise you on what to do to make sure everything is above board.
Types of limited company
The four main types of company are:
* Public limited company (PLC)
* Private company limited by shares
* Private company limited by guarantee
* Private unlimited company
Private company limited by shares
Most private limited companies are owned by their shareholders and are limited by shares. The liability of each member is limited by the amount of shares held by them.
Private company limited by guarantee
Companies limited by guarantee have no shares, its members are guarantors rather than shareholders. The members' liability is limited to the amount they have agreed to contribute to the company's assets if it is wound up.
Private unlimited company
Unlimited companies may or may not have a share capital but there is no limit to the members' liability.
Public Limited Companies (PLC)
This type of company has a share capital and limits the liability of each member to the amount unpaid on their shares. PLCs:
* Able to raise money by selling shares on the stock market
* Must have share capital of at least £50,000.
* Must have a minimum of two directors and a qualified company secretary
Evans & Co Accountants .... Helping Businesses say .... "Thank Evans For That"
Accountants and Tax Consultants Barnstaple, North Devon