| |
| |
| CLICK TO GET BACK TO INDEX STRUCTURED SETTLEMENTS INFORMATION | |
|
|
|
How To Form a UK Limited Company
When starting a business, a large number of people go down the route of forming a limited company or, to give it its full title, a limited liability company. The alternative for someone starting up in business on their own is to trade as a sole-trader. There is less formal paperwork involved in going into business as a sole-trader, but a limited company can offer a number of advantages. These include greater opportunities to reduce the amount of tax your business pays, and increased protection of your personal assets in the event of the business running into problems. This article explains how a limited company is structured, and details the steps you need to take to form your own limited company. The first thing you will need to do is to decide on a name for your new limited company. Companies House maintains a list of all companies registered in the UK, and you can use their website to check if the name you want is available or whether it is already in use by another company. Whatever name you opt for will have to have the word "limited" (often abbreviated to Ltd) at the end. So if, for example, your wanted to call your new business "The Ultimate Widget Company" then the full name of your limited company would be The Ultimate Widget Company Limited or The Ultimate Widget Company Ltd. Your new company will need at least two people to act as officers of the company. One of these people will be the company secretary. The other person will be a director of the company. If you wish, the company secretary can be a director as well, but he/she cannot be the sole director. The company secretary has certain legal responsibilities such as ensuring that the company submits annual returns to Companies House and that the company and its directors operate within the law. Many people going into business on their own choose their spouse or another family member to fulfil the role of company secretary. Where two or more people are forming a limited company, one of them will often take on the job of company secretary in addition to being one of the directors of the company. An alternative is to use the services of a third party firm who provide company secretary services to your business in return for an annual fee. The next thing to decide is how you will allocate shares in your new company. You will need to specify how many shares your company has and the value of them. Typically, companies are formed with 100 or 1000 shares with a value of £1 per share. Some or all of these shares are then issued to the shareholders in return for the appropriate sum of money. Ownership of shares gives the shareholders the right to vote at company meetings and entitles them to be paid dividends on their shares based on the profits of the company. Any shares which remain unsold are known as unallocated shares. It is a good idea to seek advice from an accountant at this point, in order to make sure that the allocation of shares is done in the most tax efficient way for your own particular circumstances. The final decision to make before forming your limited company involves the company's registered office. Under Company Law, all companies are required to have a registered office. The registered office of a company is the address where official documents can be served and where certain statutory documents relating to the company are kept and can be made available for inspection. Common choices for the registered office address are either the home address of one of the directors of the company, or the office of the company's accountants. Having made all these decisions, you now have all the information you need to form your limited company. The quickest and cheapest way to form a company is using one of the many online company formation services. For a fee of around £30 to £50 they will process your application with Companies House and send you all the required company documents by email for you to print out. For an additional fee, they will normally provide printed copies of the documents if you wish, but for most people this is not considered necessary. An alternative to forming the company from scratch yourself is to buy what is known as an "off the shelf company". Off the shelf companies are companies which have been formed already by a company formation agent, but which have not yet traded. You pay a fee to the formation agent and they then transfer ownership of the ready-formed company to you. Obviously, with an off the shelf company you are restricted on your choice of name for your company, as you can only pick from the list of pre-formed off the shelf companies that the formation agent has available at that time. However, once you have bought your company you can apply via Companies House to change its name, but there is a fee for this. As off the shelf companies tend to work out more expensive and less flexible than forming the company yourself, it makes sense in the majority of cases to form the company yourself using one of the online formation services. ----- Copyright 2005 David Miles. You are welcome to reproduce this article on your website, so long as it is published "as is" (unedited) and with the author's bio paragraph (resource box) and copyright information included. In addition, all links to external websites must be left in place. David Miles is the editor of a number of business and finance websites including The Cash Clinic - a UK Personal Finance Portal.
MORE RESOURCES:
Imperial Finance & Trading, LLC Employees Participate in Health Fair - Business Wire (press release)
Structured-Settlements - Google News |
 |
|
|
RELATED ARTICLES
The Cost of Not Having Money The self-esteem factor of not having enough money is underestimated. You know what I mean don't you? The agony of financially struggling and the ecstasy of financial abundance are dramatically different moments in a person's life. Cash For Structured Settlements - The Smart Way For most people when they buy a house it is considered their life's largest deal. In some cases of structured settlements the compensation and financial considerations for a persons life duration and the total present value of the settlement can reach few millions of dollars. Individual Voluntary Arrangements. IVA What is an IVA?There is an alternative to bankruptcy called an "Individual Voluntary Arrangement" (IVA). This is a formal arrangement through the county court to pay an agreed amount off your debts over a shorter period. If This Describes You, Dont Cash out Your Annuity There are companies that purchase future payments. Personal injury settlements are often structured to pay out over time. Should You Sell Your Structured Settlement? The courts have just awarded you a settlement in the amount of $1.3 million dollars for injuries you sustained while using the Widget Corporation's product. What is Structured Settlement? Because it is tailor-made for individual cases, the structure may also include some immediate payment to cover special damages. The payment is usually made through purchase of an annuity from a Life Insurance Company. Structured Settlement Factoring Have you received a structured settlement recently? A structured settlement can be a good thing if you have been a victim of malfeasance, have been severely injured or can no longer physically work. Structured settlements will help you pay bills. The Target Capital Structure Firms can choose whatever mix of debt and equity they desire to finance their assets, subject to the willingness of investors to provide such funds. And, as we shall see, there exist many different mixes of debt and equity, or capital structures - in some firms, such as Chrysler Corporation, debt accounts for more than 70 percent of the financing, while other firms, such as Microsoft, have little or no debt. The Cash Now Question If you have ever been in a bind for cash you know the stress, the weight of not being able to pay your bills. In these desperate times, desperate measures are often taken. Unstructured Settlement Me'Lisa Delaney, 43, is brain-injured as a result of a 1984 medical error that caused a stroke during surgery. The hospital agreed to settle via a structured settlement, as overseen by a county conservatorship. Structured Settlement as an Investment Vehicle You always hear people talking about the latest investment vehicle they're using. It's water cooler talk, dinner table talk, phone talk, it's everywhere talk. Making Backwards Choices I was reading this past week about a woman who lost 170 lbs in 9 months by eating backwards. She had breakfast for dinner and dinner for breakfast. Keeping the Lawsuit End in Mind 2 key points to stay focused on, as you are settling your lawsuit; a quick and fair settlement and consideration for current and future needs. The process of settling a lawsuit can be a tedious and mysterious event. What is a Structured Settlement A Structured Settlement is an agreement between a personal injury victim ( a Plaintiff ) and an Insurance company ( the Defendant )to compensate the Plaintiff by the defendant with long term periodicpayments instead of a single cash lump sum.Payments can be tailored to each individual plaintiffs needs, to help meet expenses such as on-going medical and living expenses, education, children needs & support etc' The fixed annuity payments are tax-free to the claimant, a cost-of-living adjustment (COLA) feature is available, that can help offset the effects of inflation over time, payments can continue as long as the claimant lives thus providing him the maximum benefits. Lucky Have you ever looked around and wondered how everyone is buying houses? Are they really doing that much better than you are? Maybe. Maybe not. Offshore Asset Protection Trusts for US Citizens When it comes to discussing offshore anything and US citizens - from offshore trusts to investments, from offshore banking to company incorporation - it's important to note the following facts: -- US citizens are taxed on their worldwide income. This includes income from interest, dividends and gains whether onshore or offshore. Structured Settlements Are Like Ants Ants are powerful creatures. The powerful ant legs are able to lift 20 times their body weight, and run the equivalent of a man running as fast as a racehorse. Options for Lawsuit Settlement Winners Receiving Periodic Payments On January 22,2002, President George W. Bush signed into law a bill that protects individuals who must sell their structured settlement payments to meet unplanned financial needs. Investing in Structured Settlements Often some derelict will be awarded some huge amount of money from a noble company due to a run away jury in a Kangaroo Court. Since many times the company paying the money out agrees on a structured over time settlement, the plaintiff of course is a lowly human and has lots of desires for riches and he has little if any cranial capacity to understand the enormous gift the courts have grated him as our nation turns in to a socialist quagmire of re-distributing wealth to those who do not deserve it. Surviving High Debt States Are you more likely to have more debt according to what state you live in? In a recent report done by Experian on the debt averages per state, the answer is yes! The report, compiled from approximately 3 million consumers nationwide, shows that the North East states of New Hampshire, Connecticut and Rhode Island have the highest average overall debt in the nation of $16,845, $15,314 and $14,643. The report measures overall debt of a consumer; everything present on a credit report, including credit cards and installment debts but excluding mortgage debt.
|
| HOME MORTGAGE HOME MORTGAGE GUIDE MORTGAGE REFINANCE |
| Index | Sitemap
TOS | PRIVACY | Disclaimer |Copyright © 2007 Paulo Daniel
domainsdaniel.com |
