Company Incorporation

Registering as a limited company could offer you and your business substantial tax savings Our team of chartered accountants can help you decide if incorporating a company is the right financial move for you and then help you manage the finances of running your limited company.

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What is "company incorporation"?

Incorporation of a company is the process of registering your business as a limited company instead of trading as a sole proprietor or partnership. If you operate, or a looking to open up, a UK-based business then this option is available to you and, depending on your circumstances, it can offer you tax and legal advantages.

What are the benefits of company incorporation?

Tax savings

The majority of businesses that register as limited companies can usual make some substantial tax savings when they become a limited company.

Selling company shares

One attractive aspect of becoming a limited company is that you can offer your shares for sale to generate personal income and bring in new shareholders with a different skillset who can help you to grow your business.

Limited liability for company directors

Generally, directors of a limited company are not liable for the debts of a company, whereas sole traders are. As a company director, you may need to make personal guarantees for things like: a business loan, car lease, commercial property rental but the company does offer you much more protection.

How easy is it to register as a limited company?

Like anything in life, registering a limited company is easier if you know how to do it!.  There are a number of things to consider such as number, classes and rights of shares, directors and people with significant control, and the detail of the Memorandum and Articles of Association.  All of this can have different financial and legal implications for your business. With this in mind, it’s always best to seek the guidance of a professional company formation advisor as getting it wrong could prove costly.

How we can help you

Jan McDermott Chartered Accountants specialise in all areas of accountancy and tax support for businesses including the formation of a company. Our knowledgeable and experienced accountants will guide you through the entire process to ensure everything is correct for your business moving forward. Whether it is your first company incorporation or your tenth, the process isn’t always smooth sailing, which is why we’re on hand to help.  

Get in touch with our specialists today to make your company incorporation process efficient and stress-free.

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Frequently Asked Questions

You will need: 

  • An application form (IN01)  
  • Memorandum of association 
  • Any additional information such as directors, shareholders, details of the registered office etc.

There are 4 main types of companies:

Private company limited by shares – each member puts money into the company as share capital and the liability is limited to that investment.

Private company limited by guarantee – no share capital and the members are guarantors instead of shareholders. The liability is limited to the amount they invest into the company’s assets, normally non-profit organisations.

Private unlimited company – no limit to the members liability.

Public limited company – there is share capital and limits on the liability of each member, but the shares are open to the public to buy and might be quoted on stock exchanges.

Alan Robson

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Their professionalism, expertise and client care are outstanding and they have supported our growing business no end. They look after everything from our bookkeeping, VAT, annual accounts, as well as claiming Research & Development tax relief, preparing budgets and forecasts and assisting with grant claims. The whole team are always responsive, friendly and reliable and we wouldn’t hesitate to recommend them to anyone looking for a trustworthy and efficient firm to look after their business finance requirements.

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I moved my accounts over to Jan at the beginning of the year and have been extremely impressed with her attention to detail and precision. She’s made it easy for me to understand and manage all the key aspects of my accountancy, as well as offering useful suggestions of ways to improve and make things work more efficiently for me and my business. I’d highly recommend Jan and her team to anyone looking for professional, friendly, and reliable accountants that truly get to know you and offer a tailored service.”

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Jan McDermott & Co have been our accountants for over 15 years and have not only ensured our accounting records are accurate and legal, but also provided us with first class advice to help us grow. They recommended our move to Xero accounting software which has revolutionised our business, allowing us to create predictable income through the use of Go Cardless Direct Debits, and streamlining our day to day accounting operations. Jan and her team are friendly,  easy to work with and take time to understand a particular problem or situation. I wouldn’t hesitate to recommend them to any business that wants an accountancy firm they can grow with and depend on.