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MN Associates > Company Setup

Company Setup

A limited company is one of the three business structures used in the UK. The business structure allows an individual to create a business as a separate entity. It allows the owner to and any other shareholder to only risk their investment and keep their personal finances protected. Therefore, its popular way to set up a business as it offers protection should the business fail. Any business debts will only have to be paid by the business, not the owner or the shareholders. Whereas a sole trader and the owner are seen as one entity in the eyes of the law, meaning that the owner is responsible for any business debts and failures.



Limited companies are the most common form of incorporation at Companies House. We guess they account for over 90% of all business started in the BD. They are suitable for Medium, Small and Micro businesses. They can be set up online and without the need for paperwork or signatures. Only one person is required for a company to be set up as long as that person acts both as director and shareholder. A limited company can have corporate shareholders and directors but there must be at least one natural person acting as a director. Your limited company (Ltd) will be formed and ready to trade within 1 working day (24hrs), subject to the work load of Companies House.

Benefits of setting up a limited company

  • Tax efficient
  • Limited liability
  • Separate entity
  • Professional status
  • Company pension
  • Public records
  • Maximizing tax-free income
  • Complicated to set up
  • Complex accounts
  • Accountancy costs
  • Ownership