Limited Company

 

PACKAGE SET OF SERVICES SET OF SERVICES
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VAT
SET OF SERVICES
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RESIDENTIAL ADDRESS
SET OF SERVICES
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VAT
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RESIDENTIAL ADDRESS
PRICE OF THE PACKAGE £115 + 20% VAT
£135 + 20% VAT
£245 + 20% VAT
£265 + 20% VAT
QUICK REGISTRATION 3-5 hours
3-5 hours 3-5 hours 3-5 hours
MEMORANDUM & ARTICLES OF ASSOCIATION

electronic version

electronic version electronic version electronic version
COMPANY REGISTRATION CERTIFICATE electronic version electronic version

electronic version

electronic version
SHARE CERTIFICATE electronic version electronic version electronic version electronic version
EMPLOYER REGISTRATION (PAYE)
CT41G FORM





VAT REGISTRATION
RESIDENTIAL ADDRESS


Limited Company Registration

What is a Limited Company ?

The closest polish equivalent of the British Limited Company is ‘Spółka z ograniczoną odpowiedzialnością’, i.e. ‘Spółka Z o.o’. It’s one of the most common forms to run a business, and it has a range of advantages that other forms lack.

Characteristics

As opposed to a Sole-trader or a Partnership, a Limited Company is a legal entity separate to that of its owner. What it means is that the company is legally separated from its owners (directors), who are legally the shareholders of the company’s shares. In effect, any change or death of the company’s directors does not affect the existence of the company and its legal capacity, it only affects the ownership of the company’s shares. The company may cease to exist only when it is legally closed down or dissolved. Also, due to the company being a separate legal entity, all the debts and obligations of the company are independent from those of its owners and remain the debts and obligations of the company even in the event of a complete change of the company directors. The company shares can be freely sold or transferred.

Another characteristic of a Limited Company is its limited liability. Consequently, the company directors are not personally responsible for the company’s obligations, excluding the amount invested in the company’s shares. In effect, a Limited Company is an excellent precaution for business owners who run a company, as (in usual circumstances) it does not require them to put at risk their own personal assets or those of their families.

Company officials

In the case of a Private Limited Company, the business owner (co-owner) owns all (or a part of) the shares of the company. He may (but does not have to) run the company as its Director. According to the current law, the company has to have at least one Director. Usually this Director is employed in the company as an employee.

The current regulations also provide for the position of the company’s Secretary. It should be noted that since 6th April 2008 the requirement for a company to have a Secretary is no longer in effect. However if the owners wish to include the position of the Secretary in their company, his qualifications remain the same as they have been until this date.

Setting up a private Limited Company in England

A British Limited Company can be set up by registering it in the Company Registry, which is kept by the Companies House. A company will be registered in the Company Registry if they receive the company’s statute (i.e. Articles and Memorandum of Association) as well as the personal data of the company officials along with the declaration of the company’s concordance with the Companies Act. Moreover, a registration fee has to be paid.

After the registration of the company in the Companies House, the company officials need to inform HM Revenue and Customs about starting a new business. Simultaneously the company is usually also registered as an employer for tax and employee insurance contribution.  A functional company should also obtain a bank account, through which all its finances will be settled.

Reporting company data

The Company is required to file a range of documents with the appropriate offices. First of all, the Company Directors have to provide the Companies House with an annual report (so-called Annual Return) as well as a financial report (Accounts). HM Revenue & Customs must receive an annual tax settlement of the company (Corporation Tax Return) along with an attached financial report. If the company employs anyone (even if just the Director), the filing of the Employer's Annual Return is also required.

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