Limited Companies
What is a Limited Company?
A limited company (Ltd) is a general term for a type of business organization wherein owners’ assets and income are separate and distinct from the company’s assets and income; known as limited liability. A limited company is a distinct legal entity that is either “limited by shares” or “limited by guarantee” in its ownership. The finances and conduct of a Limited Company are independent of those of its owners.
How is a Limited Company Different from a Sole Trader/Partnership?
The main differences between a sole trader/partnership and a limited company are:
- Limited companies have legal status as a distinct financial entity, that is separate from its shareholders.
- Limited companies are owned by shareholders, each of which own a portion of the total wealth of the company.
- A shareholder is only liable up to the amount of capital that he/she has invested in a limited company.
- Limited companies have different accounting regulations and compliance issues.
- Limited companies pay corporation tax on company profits while the shareholders pay income tax on dividends and salaries.
Why is Lanop Your Best option for Outsourcing Limited Company Accountants in the UK?
Lanop ensures that you fully comply with UK regulations while remaining tax-efficient by supporting limited companies with a wide range of services including accounting, bookkeeping, financial guidance, tax preparation, and HMRC investigations/inquiries.
To prevent penalties and fines, it is critical for a limited company to fully comply with HMRC and Companies House regulation.
Lanop comes in when company directors don’t have enough hours in the day. We take up the onerous and frustratingly time-consuming task of overlooking all limited company accounting and taxation issues. Our efficiency and expertise are unmatched when it comes to Limited company Finance and Accounting.
Give us a call at Lanop to save time and money while having the peace of mind that professionals have your back.
Limited Company Incorporation in UK
A firm must file for incorporation with Companies House and register with HMRC for corporation tax payments and tax returns to be registered as a limited company.
Types of Limited Companies That Lanop can Help in the UK
There are three types of limited companies in the UK for which you can get registered:
Private Limited by Shares
A company that needs to be registered with Companies House, must file for corporation tax in compliance with HMRC and have at least 1 shareholder and 1 director. The liability of the shareholders is limited to the amount of shares in they own in the company.
Private Limited by Guarantee
A company limited by guarantee must be incorporated with Companies House and submit corporation tax with HMRC and have at least one guarantor and one director. The guarantors’ responsibility is limited to the amount of guarantee in the firm. This form of limited company has no shareholders or shares and is mainly used for non-profit purposes for example, an NGO (non-governmental organization)
Public Limited Company
A public limited company must be registered with Companies House and HMRC in the same way as a conventional limited company, submit corporation taxes, and have at least one director and shareholder. The difference is that a Public Limited Company can exchange and sell its shares on price indexes on the stock market.
Lanop: The Secret Ingredient for Limited Company Accounting in London
Lanop Accountants eliminates the need to search for an all-encompassing accountancy firm. Our corporate headquarters in Putney, London provide practical and efficient solutions to all your accounting needs.
Our skilled tax and finance professionals work diligently to make your life simpler by reducing financial stress and making business models more lucrative and efficient in accordance with up-to-date regulations.
Aurangzaib Chawla
I am the Managing Partner and a Tax Specialist at Lanop. I provide Read More
Aurangzaib Chawla
Tax Partner
I provide my expertise and services to a diverse range of clients involved in the Architecture and Construction sector, assisting them in resolving industry-specific accounting and tax issues. With the help of my extensive experience and understanding of this industry, I provide attention to detail advice that is completely specialized to your business structure needs, allowing you to worry less about your daily accounting needs and focus more on earning profits.
Zohaib Arshad
I am a Financial Accountant at Lanop. Most of my time is spent in consultationRead More
Zohaib Arshad
Financial Accountant
Most of my time is spent counseling limited firms on all aspects of their financial and tax circumstances as a Financial Accountant. Many corporate business owners have turned to me for help with their business formation, including any early paperwork and laws. Small business owners can benefit from my high expertise and professional advice due to my
diversified experience in a wide range of industries.
Client's Testimonial
When I was looking for an accountancy partner, Lanop was the first provider to respond, inviting me in for coffee to discuss my business plans and offering guidance on how to structure the business. It was a crucial first meeting, I had so many questions and worries about starting out on my own, but the team gave me all the help I needed to register and run my own company. We’ve been trading for over three years now and the Lanop team have provided an excellent service, answering all our questions, managing our payroll, VAT, pensions and annual reporting processes without a hitch.
Steven George-Hilley
Founder
Centropy PR
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