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Your Questions
New traders or new entrpreneurs
Why should I incorporate?
There are several reasons why incorporating your business could be advantageous. For example, limited liability provides the shareholders of the company with protection if the company were to fail. Furthermore, incorporation can provide tax saving opportunities for owner managed businesses.
What is limited liability?
This means that the liability of the investors (shareholders) in the company is restricted to the amount that they originally paid for their shareholding. Should the company become insolvent the shareholders’ personal assets are protected.
How do I form a limited company?
Armstrong Watson can arrange this for you. We will need to know who the directors of the company will be, who the company secretary will be and who will own the shares. We can advise you on all of these areas.
Directors of new trading companies
Do I need an Annual General Meeting?
Companies have to hold an Annual General Meeting during every calendar year.
What is my Annual Return?
This is Form 363, issued by Companies House, that contains basic details about the company. These include the registered office, the activities of the company, who the company secretary is, who the directors are and who the shareholders are. Typically every company has to submit one of these to Companies House annually.
When do my accounts have to be filed?
For a private limited company this is usually ten months after the company's year end.