Limited Company Registration – How It Works

Re-Publish this Article

<h1>Limited Company Registration – How It Works</h1><strong> Author: <a href='http://www.articleseen.com/profile_Gareth Hoyle.aspx'>Gareth Hoyle</a></strong><br /><p>For people looking at company registration in the UK there are various options regarding the type of company that can be registered. A sole trader business is one where the owner establishes the business and both owner and company are virtually treated as a single entity. This leaves the owner with a lot of liability, and could potentially lead to big problems if the company suffers problems. An alternative to this, and the most commonly used company registration type, is the limited liability company. A limited liability company, more often referred to simply as a limited company, is set up by and run by the shareholders. The company is usually set up with two people, one acting as company secretary and the other as a company director. It is possible to use independent third parties to effectively act as the third party thus alleviating the need to encourage a family member or friend to join you. Certain documents do need to be registered with Companies House during and following limited company registration. This includes annual accounts, and these can be viewed by members of the public as well as agencies and other groups. In order to ensure that documents are filed properly and that accounts are kept up to date, taxes filed, and other accounting issues kept on top of, most limited companies will hire the services of a business accountant. The company secretary takes on the responsibilities of ensuring that the appropriate documents are filed with Companies House every year. Using a third party to deal with this can avoid mistakes while ensuring that the processes are completed quickly and inexpensively with fewer errors and mistakes. Limited company registration does present a few more hurdles than setting up a sole trader business. However, it also has a number of advantages, not least the limited liability that the founder and directors face. Because the business is treated as a separate entity it means that the individual is not held legally or financially responsible for the business. It is still the responsibility of the directors to act lawfully and legally however otherwise this limited liability may be removed.</p><strong>About the Author:</strong><br /><a rel="nofollow" href="http://www.companyformations247.co.uk/">Company registration</a> services from <a rel="nofollow" href="http://www.companyformations247.co.uk/">CompanyFormations247.co.uk</a> are inexpensive, effective, and tailored to meet the needs of individuals looking to establish their own limited company.<p> Article Source: <a href='http://www.articleseen.com/Article_Limited-Company-Registration-–-How-It-Works_62131.aspx'> http://www.articleseen.com/Article_Limited Company Registration – How It Works_62131.aspx</a></p>

Article Source : http://www.articleseen.com/Article_Limited Company Registration – How It Works_62131.aspx

Keywords : company formation, company formations, company formation uk, company formation services, company registration, company regist,

Category : Finance : Finance