UK Company Registration
When registering a company in the UK, there are several different company structures to consider. Each type has its own legal and tax regulations, so selecting the right structure for your business needs is crucial.
Examples include:
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Private Limited Company (LTD)
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Public Limited Company (PLC)
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Unlimited Company
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Limited Liability Partnership (LLP)
What Types of Companies
Can Be Registered in the UK?
The choice of company type depends on various factors, including business size, tax planning, number of partners, and whether you intend to go public.
Among these, the Private Limited Company (LTD) is the most common type, and is suitable for most business owners.
Why Register
a Company in the UK?
Compared to self-employment, registering a UK company not only affects how you hire employees but also enhances your brand’s commercial credibility. More importantly, it allows you to protect your existing liabilities and benefit from tax advantages.
Limited Liability Protection
Once a company is registered, its debts and liabilities are borne by the company itself rather than individual shareholders. This means that if the company encounters financial difficulties or bankruptcy, the shareholders’ personal assets (such as property or savings) are generally not affected. In contrast, sole traders or self-employed individuals are personally liable for their business debts, offering no protection for personal assets.
Tax Advantages
Companies are subject to corporation tax rather than income tax. For businesses with higher profits, operating through a company can result in lower tax rates and reduced tax liability.
Additionally, company profits can be distributed as dividends, which are usually taxed at a lower rate than salaries.
Corporation Tax vs Income Tax
Company Registration Requirements & Process
Below are the general requirements for registering a UK company:
1. Determine the Company Type and Name
2. Company Registered Address
If you do not have a physical office, you can use an agent service to obtain a registered address (e.g. ‘virtual’ address).
3. Details of Directors and Shareholders
4. Memorandum & Articles of Association
5. Share Capital Information
6. UTR Number & Other Tax Information
If your company intends to register for VAT or other tax schemes, additional tax information may be needed.
Once the required documents are prepared, you can submit your application online via Companies House. Registration is typically completed within 24 hours.
Once approved, you will receive a Company Registration Number and a Certificate of Incorporation, confirming your company is legally established and ready to operate.
After registering your company, you must meet ongoing compliance and reporting obligations to ensure legal and tax compliance.
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Confirmation Statement (Annual Return)
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Annual Financial Statements (Annual Accounts)
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Corporation Tax Filing
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PAYE & National Insurance Contributions
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VAT Returns (if applicable)
Post-Registration:
Compliance & Reporting Requirements
Success Stories
Client B: The expert tax advice from TB Accountants resulted in significant tax savings for our business.
Client A
Client E
Client C: The audit services from TB Accountants ensured our compliance with regulations and improved our financial transparency.
Client B
Client F
Client D: TB Accountants' consulting services provided us with strategic insights that boosted our business performance.
Client C
Client G