Trading via a limited company ensures that your personal assets are separate from the company assets. Limited companies require one director who can also be a shareholder (business owner). There is no requirement for you to have a second person involved in the business. However, if you want to include your family member(s) or a business partner that can be done easily and quickly. Giving you the flexibility to change company structure based on the business needs. A Private Limited company cannot sell its shares to general public but a Public Limited Company can. If you are starting a business that you expect to grow rapidly, it may be a good idea to start the business as a Private Limited Company and then convert this to a Public Limited Company at a later date. The costs of running a Public Limited Company can run into thousands of pounds and it may be sensible to wait until you can generate enough funds from the business to pay for these expenses. Limited companies are registered at Companies House where anyone can visit the website and check that the company is genuine and who are the company owner(s). This transparency can be good for the business specially when you are dealing with new clients or suppliers. Limited Companies are subject to Corporation tax on their profits (income less all business expenses). If your sales are expected to be above £85,000 in a 12 month period then you are required to register the company for VAT . As a Company Director you are responsible for filing Company’s annual accounts, tax return and Annual Confirmation Statements. Premier can take care of these obligations. Contact us to find out more.