A limited company in the United Kingdom is a corporation whose liability is limited by shares (Ltd), which is the most common form of privately held company. A limited company can be registered in England and Wales, Scotland or Northern Ireland. The registration of companies in the UK is done through Companies House.
A limited company is a separate legal entity that exists under the authority granted by statute. A limited company has substantially all of the legal rights of an individual and is responsible for its own debts. It must also file tax returns and pay taxes on income it derives from its operations. Typically, the owners or shareholders of a limited company are protected from the liabilities of the business. However, when a limited company is small, creditors often require personal guarantees of the principal owners before extending credit. The legal protection afforded the owners of a limited company can be useful.
A limited company must obtain approval from Companies House to use its proposed name. A limited company must also adopt and file a Memorandum and Articles of Association, which govern its rights and obligations to its shareholders, directors and officers.
Services offered by our firm for LTD companies:
- Consultations before establishment of a company (search for the most beneficial solution to a customer);
- Consultations on accounting issues;
- Consultations on tax issues;
- Registration of a company;
- Business administration;
- Finding of commercial premises;
- Intermediation in obtaining business permits.
We can open a limited company within 24 hours.
A partnership is defined as two or more persons carrying on a business in common with a view to profit.
What you need to do when starting a partnership:
- choose a name – A partnership does not have to register its name and theoretically could start trading under any name it wishes. Your name must be displayed outside your offices and also on your stationary. UJS Financial Services can help you to choose the best name to comply with the statutes and suit your needs.
- make a partnership agreement – A partnership agreement can contain as much or as little control as the partners wish. It can cover for example how decisions will be made, how profits will be shared, and what will happen in the event of a partner wishing to leave the partnership.
- decide about the stationery – All businesses must make sure all their business stationery contains certain information such as the principal place of business and the names of each partner. Extra information must also be included in certain situations. Our specialists can help you with the information you need to provide for your situation.
- make an insurance – based on the needs of your new business. Any property and other assets obviously need to be insured, but you may also need other insurance including Public Liability Insurance, Professional Indemnity Insurance, and if you will have employees, Employers Liability Insurance. We can help you to decide on the insurances you need and help you with the papers necessary.
- prepare the annual accounts, register for VAT, file a VAT return to HM Revenue & Customs – for all that you are going to need an accountant. You can pass all that burden on the responsible shoulders of our specialists and you can relax and just think about your business.
Self – employed is a form of work in the United Kingdom, meaning a person works for herself/himself and takes responsibility for paying her/his own income tax and National Insurance, both of which are calculated by reference to profits as a stand-alone business.
Everyone starting out as self-employed needs to register with HM Revenue & Customs (HMRC). You have a three-month window in which to tell HMRC that you have started trading.
Services we offer:
- Consultations on what documents you need in order to become a self – employed worker;
- Consultations on record-keeping, payment of taxes, when and how statements must be presented for activities performed;
- Assistance in registering for self-assessment with HMRC;
- Preparing, filling and sending Tax Return forms to the HM Revenue & Customs .