Are you looking how to register a company? Do you need help setting up a limited company? This article will show you the simple steps you need to go through in order to own your very own business.

Companies House is responsible for the registration of every company in the UK. Before you can have a limited company, the business must be registered with Companies House.

Limited Companies

A limited company is useful as unlike a sole trader or partnership, with a limited company an individual’s personal assets are not at risk. Provided that the business is operated in a legla manner and within the terms of hte Companies Act, the personal assets of shareholders and directors are not at risk if the company goes into receivership.

Another reason to consider a limited company is that this type of company will give suppliers and customers a far greater degree of confidence in your company.

Registering a limited company also means that your business name is provided more protection as it is difficult to incorporate another company’s name in the future as no two limited companies can exist with the same name.

With a limited company, directors pay income tax and the company pays corporation taxd on company profits. A sole trader or partnership would be taxed as proprietors’ income, regardless of how much profit is retained as working capital. Whereas, with a limited company the corporation tax is at lower rates and will mean that you can make more money with a profitable company.

There are a number of other tax advantages for a limited company. Firstly, there is no National Insurance to pay. A limited company only pays Corporation Tax at 10% on its profits up to the level of £10,000 and 20% between £50,000 – £300,000, after deducting all expenses including directors remuneration.

http://www.bytestart.co.uk/content/19/19_1/forming-a-limited-liabili.shtml

If you want to start a limited company then there are a three ways you can do so.

1. Use an accountant
2. Register yourself
3. Use a formation agent

http://www.formacompany.com/en/uk/benefits-of-limited-company

http://www.businesslink.gov.uk/bdotg/action/detail?itemId=1073789599&r.l1=1073858805&r.l2=1085161962&r.l3=1073865436&r.s=sc&type=RESOURCES

1) Using an accountant – This is a good option to use if you are new to setting up your own company. However, depending on which account you hire, you might find this option is considerably more expensive than the other options as you also have to pay for the accountants time.

2) Register the company yourself with Companies House – You can also start your own business by registering with Companies House. Visit this page to find out more. http://www.companieshouse.gov.uk/infoAndGuide/companyRegistration.shtml. While this is the most inexpensive option, if this is your first time at setting up a company it will also be the most time confusing.

3) Use a formation agent – A company formation agent will register the company for you and provide you with a number of useful services. For example, many offer central London business addresses so that you don’t have to use your family home as your business address.

CompaniesMadeSimple.com are reliable and offer a number of different services and packages. Each type of package will vary to suit your needs. However, we found that the silver package at £55 was a very good deal. This package will give you everything you need to start a business. You can also start invoicing companies for your work as soon as the company is registered at Companies House.