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Company Formations
Whether you are a sole trader, partnership or forming a limited company, we will be able to provide you with all of the advice you will need to start up your business with confidence.
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We can provide you with all of the advice you require in connection with your business start up, as well as your liabilities.
When starting out in business there are different “vehicles” to choose from. The most common businesses tend to be either: a sole trader i.e. working for yourself under your personal name; a partnership i.e. two or more people working together with a view to making profit; or a limited company.
Setting up as a sole trader or partnership is straightforward and you can simply start trading without physically needing to do anything in terms of registering your business. We can provide you with the advice you require in connection with your business start up as well as your liabilities. You should also seek tax advice from an accountant as once you start trading and making money you may be liable to pay income tax or VAT.
Aside from sole traders and partnerships you can form a limited company. To give you an idea of what a limited company is, how it is formed and what the advantages and disadvantages of a limited company are please see our frequently asked questions section below.
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FAQs
What is a limited company?
A limited company is an entity that is owned by shareholders, run by a board of directors. A company is a separate legal entity which can, under the direction of its directors, do many things including enter into contracts, buy and sell assets, sue parties and also be sued by parties and employ people.
How much does it cost to form a company?
The cost of setting up a limited company can vary. A simple limited company is inexpensive to set up. A limited company with complex requirements, for example bespoke articles of association (see next paragraph), may be more expensive. We can provide a better idea for you when we know your full requirements.
What are the alternatives to a limited company, partnership or sole trader?
One of the more popular alternatives to a limited company is a limited liability partnership (LLP), which is effectively a hybrid of a partnership and a limited company. With an LLP you benefit from limited liability but are taxed individually as partners.