The most popular type of trading company in the UK is a private company limited by shares – providing its owners with limited liability.
A limited company is owned by its shareholders. Limited companies are no longer required by law to have a company secretary. They can now operate with just one director and shareholder.
All limited companies must be registered at Companies House. All limited companies should submit a Confirmation Statement to Companies House each year as well as their annual accounts.
Limited companies are subject to corporation tax on their profits. If your limited company is going to turnover £85,000 or more per year, you must register for Value Added Tax (VAT).
