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Mint Formations

UK Limited company (limited by shares)

The most common form of company is a Private Limited Company by shares. The company is owned by the shareholders and there must be at least one shareholder to take at least 1 share upon incorporation. The shareholders appoint directors to run the company. It is not uncommon in a small company for there to be one shareholder who is also the sole director.

There are 3 potential advantages to being incorporated as a Limited Company:

1) Tax

Generally speaking, a business owner may be better off financially to incorporate as limited company. Dividend taxes can be lower than self-employed taxes and national insurance.

2) Liability

Unlike a sole trader, a Limited Company director or shareholder is not liable for the debts of a company, unless they have wrongfully traded or have a personally guaranteed debt. The liability in general (for example work completed) is also limited to the company and not the individual director/shareholder.

3) Professionalism

Unlike a sole trader, a Limited Company has a company number and is listed on the register of companies, which can be viewed by the public.

What are the annual requirements of a limited company?

A trading company must file the following every year

  1. Confirmation statement (to confirm information held about company and update persons of significant control register)
  2. Accounts and tax returns to HMRC and Companies House

A non-trading (dormant) company may only file dormant accounts with Companies House and no tax return to HMRC.

What must be on an application to register a Limited Company by shares?

A Limited Company must have at least one director and one shareholder (who can be same person), and a registered office address in the United Kingdom (that cannot be a PO box.) A company must also confirm its trade by way of a “SIC code” and list all those who are persons of significant control (e.g. owning directly or indirectly 25% of the shares).

How do I set up a limited by shares company?

A company must be registered with Companies House, for which you can use our online service.

Form your UK Limited company now

Register your new limited company (limited by shares), the correct way. We offer simple step by step instructions and live support.

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  5. Consistent 5-star reviews

We our customers. Our customers us too.

Your process was quick, easy to follow and very professional. Even though we did everything over the phone and chat on your website and email, I have to say it feels like I've met you all in person because of all the care and consideration shown. I can't thank you enough and you absolutely have my 100% recommendation.

Alan Douglas

We used Mint Formations to open our UK based business while we were based in South Africa. The process was incredibly fast and efficient with great communications throughout the process. We would highly recommend anyone use Mint Formations to open their UK business and with help in opening your UK business bank accounts.

Gavin Mannion

Initially, I was very hesitant to register my new limited company from online website. I chose Mint because of their highly professional website. I am glad I did as the staff were very polite, professional and exceptionally helpful. They managed to register my company same day and sent me all the paperwork saving me a lot of time.

Jessica Bingham

I live in Holland. I went to the Companies House website and downloaded the application. There was so much to fill and many questions. I was worried about making mistakes. So, I searched Google and found Mint who does everything online. They have a very easy to use Website with clear instructions. I completed my application in the night and the next my new company was formed. Simple and quick.

Lucas Jansen

I was thinking of using a lawyer or an accountant to form my new UK company. Then I found Mint website online and spoke to Kate. It immediately became clear that I need not waste my money with a lawyer. I made an online application and received all my official paperwork in an email the following day.

James Tomblin

I was not sure how to deal with company formation as this is my first experience in starting my own business. A friend of mine recommended Mint and he was right. They made it really simple for me and answered all my questions with patience and help me set it up. I would recommend Mint to anyone who is starting a new business.

Robert Gray

Prefer a personal manager to register your company on your behalf?

Worried about making mistakes? Not comfortable doing it yourself? We offer UK company formation service with a dedicated personal manager. Your personal manager will collect the details from you via email and register your new company the correct way. Please fill in your details and we will contact you.

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