Basic Package

In addition to the initial registration fees, ongoing costs need to be considered. This includes hiring an accountant or bookkeeper for financial tasks like tax filing and preparing statements. Annual general meetings and keeping business records are legally required for limited companies, which might mean hiring a company secretary or using a professional service.

Furthermore, protecting intellectual property through trademark and patent registration comes with extra expenses. While the benefits of a limited company are substantial, it’s vital for business owners to carefully weigh all potential costs before deciding.

When launching a new business, many key factors come into play. A vital step is selecting and registering your company name with Companies House. This name should be not just unique, but also reflective of your business’s values and identity. Alongside naming your company, you’ll need to provide personal details for each director or shareholder, including address, occupation, and birthdate. If a suitable business address is lacking, our virtual address services can supply the necessary registered office for your company.

Upon becoming a director of a UK limited company, it’s your duty to ensure the business complies with essential legal and financial requirements. This encompasses submitting yearly declarations to Companies House and maintaining thorough records of financial dealings. It’s crucial to promptly notify HMRC of any alterations to company information and meet tax obligations punctually.

Moreover, you’re responsible for adhering to regulations concerning employee rights, safety, and data protection. Your role as a director entails ultimate accountability for the company’s conduct, obliging you to consistently act in its utmost benefit.