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Help and advice on limited company formation

Need a hand? Don‘t worry about it, this incorporation stuff can be confusing (that‘s why we‘re here). Below you‘ll find lots of frequently asked questions. If you can‘t find what you‘re looking for you can ping us on Twitter and we‘ll help you out, or email us info@golimited.co

What is a PSC?

A Person of Significant Control (PSC) is an individual who meets one or more of the following conditions in relation to your company: 1. Directly or indirectly holding more than 25% of the shares 2. Directly or indirectly holding more … Continue reading

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Can I choose whatever company name I want?

Yes! Well, actually no. Companies House impose certain restrictions on words used in Company Names. For example, you cannot call your company Her Majesty’s Royal Web Design Ltd., as you are more than likely not the Queen, or affiliated with … Continue reading

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Limited Company Expenses

So, once you’ve formed your limited company, how can you put it to work and save you money? One of the primary ways is through company expenses. Below you’ll find a list of all the expenses you can claim.   … Continue reading

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Why go Limited?

Hundreds of freelancers, contractors and small businesses decide to form a limited company every day in the UK. There are many reasons a sole trader or small business may choose to incorporate, however the three main advantages of going Limited … Continue reading

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“Limited” vs “Ltd.”

Some companies suffix their name with “Limited”, others use “Ltd.”. You may be wondering what the difference is. The simple answer is that there is no difference. It is purely an aesthetic decision, and has absolutely zero impact on the … Continue reading

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Being your own boss

Although incorporating may not be the bureaucratic marathon many people perceive it to be, there are still some profound differences you may notice once you have formed your own limited company. This is because you are no longer a sole trader – … Continue reading

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Company Name vs Trading Name

Limited company names are like website addresses – there can only be one of each. If you want to set up Delicious Cakes Ltd, you’ll probably find some enterprising baker has already registered it. However, all is not lost. Limited … Continue reading

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Shares and Share Capital

Shares are, at their most basic, small portions of a company that are used to divide up ownership. If a limited company has 10 shares all owned by one person, that person owns 100% of the company. If two people … Continue reading

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Who can view my company information?

This is a common question when incorporating a limited company, and the short answer is: anyone. Once a company is formed Companies House make your company information available to anyone via their website for a small processing fee. Using the Companies House … Continue reading

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VAT Registration

A popular misconception concerning the formation of a limited company is that you must also register for VAT. In fact, incorporation and VAT registration are two entirely separate things. Sole traders can be VAT registered or not, as can limited … Continue reading

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Registered Office Address

Registered office A registered office address does not have to be the address of your business, but it is the address that formal communication from HMRC and Companies House will be sent. Often it is the address of your accountant, … Continue reading

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Director’s Fiduciary Responsibilities

When you become a director of a limited company, you are subject to what is called the Director’s Fiduciary Responsibilities. In less fancy language, this means “things a director must do”. You can read the full list of duties on … Continue reading

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When should I go Limited?

Forming a limited company is not to be taken lightly. Although over 400,000 companies are formed in the UK each year, every company comes with certain responsibilities and administrative burdens. For these reasons, limited companies aren’t for everybody – however … Continue reading

Posted in Limited Company