How do i start a LTD company?
Answer:
I've got my own LTD company. First find a good accountant who specialises in small businesses, he will keep you right as to everything you need to do. You need to decide on your company name and check it again the list at Companies House (you can do this on the net). You need to decide whether you wish to register for VAT (if your turnover is above a certain amount you don't have a choice, you must be registered). You will need liability insurance, but again a good accountant will point you in the right direction. Your accountant can also be your company secretary so you don't need a partner. Good luck!
Move up one from KSC.
You need 2 or more partners to become a limited co. You cant be a sole trader. Once you have 2 or more partners you apply for LTD status. This will mean that employees + their families can buy shares in your company.
LTD is a limited partnership. Get a partner then a lawyer
In Scotland (is it different elsewhere?) you can be a sole director, but you are best going to talk to an accountant as the company has to be registered with Companies House and Revenue & Customs, as well as the registration director(s), company secretary, share allocation, etc.
Okay..
Good advice from the last lady...
There are formation agents out there who will assist you in the form filling and bureacracy behind it all. Essentially its just form filling and registering a new company at Companies House.
Try Jordans online service or Severnside online servies both of whom are reputable formation agaents.
You can be a limited company all by yourself. But, the drawback is the taxman can call at any time to view your books. Better be a sole trader..get on with it.
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