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Why to setup a limited company |
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In case of a limited liability company the companys finances are a legal separate entity from the personal assets of the owners. Shareholders of limited companies are not responsible for company debts. |
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| Author: Rudradatta Rath |
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How to form a limited company?
You can form a limited company easily with all these following steps:
Check the availability of your company name
Download form 10 and form 12 from the website of company house
After down loading the forms, take a print out and put the signature of directors and company secretary
Memorandum of association should include the company name, type of business and location of the company
Articles of association contain power of directors and rights of share holders
Prepare the memorandum and articles to submit in your state LLC office
With a Cheque of £20 Post Form 10, Form 12, memorandum and articles to companies house.
The private company formation agents or professionals prepare the above documents.
Why to form a limited company?
A limited liability company is a legal separate entity where liabilities of the owners are limited. A limited liability company is often regarded as LLC. In United Kingdom it is referred as limited or ltd. The businesses choose to become LLC because of limitation of liabilities because the owners bear the much less responsibilities for debt issues that the business may undergo in near future. A private company may be limited by shares or guarantee. Few of the benefits are mentioned as follows.
It provides risk avoidance or personal liability protection for members
No need to maintain the meet the business formalities to maintain the business status
You can appoint Nominee Company officers and shareholders.
Raising loans can be much easier for business
More credibility in the market
Pass through taxation is the most vital benefit of Limited Liability Company
About Author
This article was written by Mr. Rudradatta rath provided courtesy of Lincroft.co.uk which is a leading online company formation and business registration agent based in UK provides limited liability company formation, company registration and accounting services to both UK and international clients.
Article Source:
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