UK LIMITED COMPANY FORMATION

What is a UK Limited company?

• Its a privately held company whose liability of members of the company are limited to what they have invested or guaranteed to the company. In other words, its a legal entity whose liabilities are limited by shares or by guarantee which can be shared in England, Wales, Scotland and Northern Ireland.

How is a Limited company incorporated?

• The process of registration is done via companies house which includes Companies House filling fee and the formation process follows few steps :-
• Name of the company
• Name of the company
• Address of the company
• At least one director
• At least one shareholder
• The agreement of the shareholders to create a company which is known as “ Memorandum of Association”
• Statement of Capital
• Articles of Association
• Once all these steps followed is done successfully along with the proper registration, then the company will receive the “Certificate of Incorporation” which will confirm that the company really exists and shows the company number and date of formation.

What are the annual requirements?

• It requires three steps as follows :
• Annual Return- Its a statement of details which includes any address changes, new appointments, or any other details of officers of the company.
• Accounts- This must be filled with companies house to check whether the company has carried out any trading activity or not.
• Corporation Tax- It must also be filed with HM Revenue and Customs.