Setting up your own limited company

At Whitehead & Howarth Chartered Accountants, we know that it can be quite daunting when it comes to setting up your own limited company. That is why we are here to advise you every step of the way.

Why set up your own limited company?
Setting up your own limited company can be a very good idea as you may be able to achieve substantial tax savings. However, this is not a decision that should be taken lightly as there are often numerous factors both in favour and against such a decision. With Whitehead & Howarth Chartered Accountant’s knowledge and expertise, we can help you make an informed decision as to whether a limited company set up is the right direction for your business.

We recommend that you always consult a professional business advisor before making such a big decision and we are happy to assist any individuals considering a limited company set up.  Whitehead & Howarth provide a complete service whereby a company will be incorporated under a name of your choosing, within a matter of days and at a relatively modest cost.

Ensure that your new limited company is properly registered
You will need to make sure that your new limited company is properly registered with Companies House and HM Revenue & Customs and that all necessary registers and documents are produced.

Your limited company can also have its registered office at our address so that all correspondence from Companies House gets dealt with promptly and efficiently. This can also be beneficial if your limited company does not actually have its own business premises and restrictions on operating a business from the director’s home address may be problematical.

Details required for a limited company set up
All limited companies must be registered or “‘incorporated’” with Companies House. In order to do so, you need the following:

• A company name. There are rules on what your name can and can’t include and we can provide you with all the guidance that you need.
• An address for your company
• At least one director
• At least one shareholder
• A “memorandum of association”, which is the agreement of all the initial shareholders to create the company
• A “statement of capital”, which is the detail of the company’s shares and the rights attached to those shares
• “Articles of association”, which are the written rules about how the limited company will be run.

Once your limited company has been set up and registered, you will get a “Certificate of Incorporation”. This document proves that the company legally exists and confirms the company number and the date of formation.

Get in touch to find out more about how to set up your own limited company
Whitehead & Howarth Chartered Accountants provide services throughout Lancashire from St. Annes, Lytham, Blackpool, Poulton-le-Fylde and Kirkham on the Fylde Coast through to Preston and Blackburn across the North West of England.

If you would like to find out more about how Whitehead & Howarth’s can help you with your limited company set up, please get in touch with our friendly, expert team. Simply fill in our quick contact form and we will give you a call to chat through your requirements or alternatively call us on 01253 725111. You can also follow us on Twitter and Linked In.