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How to Set Up a Limited Company in the UK

Starting a business is an exciting venture, but setting up a limited company can be a daunting process. In the UK, a limited company is a separate legal entity from its owners, which can provide several benefits, including limited liability protection for its shareholders. In this article, we will discuss the steps involved in setting up a limited company in the UK and how eAccounts, an online accountant, can help you.

Step 1: Choose a Company Name

The first step is to choose a unique name for your company. You can check if the name is available by using the Companies House name availability checker.

Step 2: Register the Company

The next step is to register your company with Companies House. You can do this online or by post. The information you will need to provide includes your company name, registered office address, details of directors and shareholders, and information about the company’s shares.

Step 3: Set up a Business Bank Account

Once your company is registered, you will need to set up a business bank account. This will help keep your personal and business finances separate.

Step 4: Register for Taxes

You will need to register your company for taxes, including Corporation Tax, VAT (if applicable), and PAYE (if you have employees).

Step 5: Set up a Record-Keeping System

It is essential to keep accurate records of your company’s finances. You can set up a record-keeping system using accounting software or by hiring an accountant.

How eAccounts can help

Setting up a limited company can be time-consuming and overwhelming, but eAccounts can help. eAccounts can help you register your company with Companies House, set up a business bank account, and register your company for taxes. We can also provide you with advice on how to keep accurate financial records and help you with your day-to-day accounting tasks.

Conclusion

Setting up a limited company in the UK can be a complex process, but with the right support, it can be made easier. eAccounts can provide you with the expertise you need to set up and manage your company’s finances, allowing you to focus on growing your business.

For more information on how to set up a limited company. Please contact us on 02921 056209 alternatively email admin@e-accounts.co.uk

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