Limited Company Formation
A limited company is one of the most popular a limited liability company (LLC), which is a kind of business ownership to determine several aspects of the business. A limited company shares some aspects with a privately owned company, some with a corporation and some with a partnership. To make a company a limited company, there are both advantages and disadvantages. One of the major benefits of a limited company is that, as the name suggests, the liability of the members is limited.
Members of the company are not responsible for the debts and Balance due of the limited company. All of the limited company's debts have the responsibility of the company, and cannot be passed on to its members. In this way, a limited company operates in much the same manner as a corporation, but with fewer requirements and restrictions of the members. When setting up a business you will have to choose between a number of business structures such as sole trader, limited company and limited liability partnership.
Limited liability which means your personal assets are protected in the unlucky event that something goes wrong with the company.
- Limited status offers confidence and credibility to suppliers and customers as your company details are available for all to see on the Companies House database.
- Once 'incorporated' your company name will be protected as it is listed in the register of companies maintained by Companies House, preventing anyone else from trading under that name.