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Becoming Limited: The Benefits

Many small business partnerships don’t realise the benefits that becoming a recognised Limited company could have for them – especially in the economic downturn. Credibility, limited liability, and lower taxes to pay are just some of the outright benefits that becoming ‘Limited’ can have for you if you are currently operating as self-employed or as part of a partnership.

However, many people will initially dismiss the idea of becoming ‘Limited’ due to the fact that there is inherent money to spend in order to get a company registered with Companies House.

To make the benefits clearer, compiled below is a list of potential advantages that becoming ‘Limited’ could have for you:

-    You will avoid the risk of becoming liable for any financial issues
-    Any tax bills will be significantly reduced
-    The word ‘Limited’ resonates an air of prestige that will stand out against other businesses
-    Your company’s name will be registered in the company index, which means that it cannot be replicated and used by another company
-    Profits can be taken out as dividends, which will reduce liability to pay NICs
-    Company ownership is more defined, so it is clearer to see which shareholders are entitled to specific amounts of profit

At UK Company Registrations, we are company registration agents dedicated to providing budding businesses with everything they could possibly need – all in a simple package of your choice – to become ‘Limited’.

You have more chance of becoming recognised for your professionalism as a company if you undergo professional company formation, and can soon be on your way to reaping all the benefits that becoming ‘Limited’ has to offer.

Before any company can be registered, it needs to have a name, and this is something that shouldn’t be left to luck of the draw, impulse or last-minute decision making.

The name of your company needs to be memorable, simple and relevant in regards to what your company offers, or the people operating it.

If you have found a company name that reflectss everything that your company is about, you won’t be pleased to find out that another company already operating has an identical name; rendering your well-thought-out company name useless.

In terms of company formation and registration, it is common knowledge that the name of your company cannot be the same as any other company appearing in the index of company names.

However, as of October 2009, there are certain circumstances in which this rule can be sidestepped.

If you are adamant that you do not wish to change your desired company name during the company registration process, there are some steps you can take to make sure that your preferred name stay as close to the original ideal as possible.

If your preferred company name is ‘Johnson & Sons Limited’, for example, you can retain the essence of this name and get it registered even if it is identical to one already in the index, simply by changing it to ‘Johnson & Sons (UK) Limited’.

The company already in the index will need to be contacted, and consent will need to be gained from them for this to be possible, but for budding companies determined to retain their name in the purest form possible, this new ‘loophole’ will prove incredibly useful.

To make the process of finding a company registration package that’s right for you as simple as possible, we at UK Company Registrations have taken the liberty of including one easy-to-read comparison interface on our website; ensuring that you can compare each and every single one of the services offered within our packages to decipher which one is right for your business.

We know how annoying and frustrating it can be to have to spend hundreds of pounds too much for a service that you won’t be making the most out of. Packages of all kinds available online rarely seem to be broken down enough so that people are only paying for what they actually need, rather than dozens of added extras that they’ll never use.

Our company formation packages (E-Formation, E-Formation Plus, Standard and Professional) range in price according to their Standard Contents, Free Services, Package Upgrades and Optional Service Extras to offer customers exactly what they need, with any added extras completely optional.

In conjunction with this, we have also worked to make each of our company registration packages incredibly comprehensive and include an array of different things to offer. In fact, the only contents that change in terms of inclusion are Printed Certificate of Incorporation, 3 x Printed and Bound copies of the Memorandum and Articles of Association, PDF Completed Registers, board minutes and share certificates, and loose leaf combined company register.

Package upgrades and optional extra services are available with any package purchased, as are the essential PDF Certificate of Incorporation, PDF Memorandum & Articles of Association and Companies House Filing Fee.

We aim to ensure that you’re getting not only the best quality for your money, but that you don’t waste your time or funds on things that are inappropriate for your business.

Here at UK Company Registrations, we can register many different types of companies – all depending on how your company operates, what kind of company it is and what your organisations goals are.

Whether you are operating a more common Private Company Limited by Shares or a Public Company Limited by Shares, company formation can be made easy if you choose us.

If you are finding yourself unsure about what type of company you have, and how you can register yourself, below is a list of the types of companies we can register you as.

-    Private Company Limited by Shares: these types of companies have ‘normal’ trading purposes, but members have limited liability. On the upside, a company secretary isn’t required, although these companies can have a sole director and shareholder; along with multiple corporate officers.

-    Private Company Limited by Guarantee: non-profit organisations are associated with being put under the umbrella of this type of business, as it is suitable for large membership organisations. Companies can also apply for charitable status if they become this type of company.

-    Public Company Limited by Shares: bigger companies that are seeking a more prominent public profile should opt to become this type of company, as they have an extremely high capital commitment. Due to this, they must have at least 2 directors and shareholders to accommodate this size, and employ a specifically qualified secretary.

-    Limited Liability Partnerships: organisations looking for limited liability status will find that this is the umbrella for them, as it still allows them to keep their individual tax status.

At UK Company Registrations, we make your company our business, and aim to help our clients find the solutions which are right for them as easily as possible.

The company formation process is one initially greeted with groans of displeasure when first thought of. It is expected by default to be long, drawn-out and incredibly difficult to understand, which is exactly what you don’t need if you are trying to get a business off the ground.

However, like most things in the internet-age, even registering your company can be done much quicker and easier if you consult authorised online experts partnered with Companies House.

The paper process for company registration involves sending an array of essential documents to the Registrar of Companies – along with a hefty registration fee. These documents include Articles of Association; the document which details the unique rules that govern how a company’s internal affairs are run. In conjunction with completing and sending this document, company owners will also have to get these articles signed in front of a witness to assure validity of the signature.

Forms 10 and 12 are also required in the paper-based process of company formation. These forms give personal details about the first directors, secretary and address of the company office, along with an official statutory declaration signed by a solicitor. Again, a witness is required when these documents are signed, and there is even a fee that needs to be paid to the witness.

The key difference with company registrations online is that electronically, a Form 12 or statutory declaration is not required; thus making the process considerably simple and short-winded. In fact, the current record published by Companies House for forming a company online is just 5 minutes.

Here at UK Company Registrations, we have direct links to Companies House, so you can rest assured that you’ll be dealing with recognised experts when you decide to register a company of any kind.