The United Kingdom steadily remains a TOP destination for various commercial projects. This jurisdiction manages to implement a policy that is equally focused on ensuring an advantageous business environment and high compliance standards.
Probably, the most favourable option for establishing a business in the UK is often considered a limited liability company (LTD). Any startup that doesn’t plan to issue stocks will benefit most from this form of doing business. In this brief review, we will cover all of the must-have aspects of founding and running an LTD in the UK. And we will surely emphasize what’s LTD UK price in 2024.
Why Choose the UK?
There are many reasons to choose the UK as the primary destination for your investments. The scope of benefits varies depending on the industry you are going to operate in. However, there are ones that are common for all sorts of industries and companies in the UK, including LTDs:
- Streamlined registration procedure with minimal to zero bureaucracy – this is one of the most compelling reasons to do business in the UK since local authorities strive to be as clear as possible in terms of regulation and administrative proceedings. All of these are aimed at encouraging investments in the country.
- High reputation of the jurisdiction overall – doing business through a UK company sometimes automatically adds credibility to your business endeavours. This jurisdiction is considered to be among the highly reputable ones.
- Transparent business environment and high compliance standards – the UK strives to have and adhere to the most advanced transparency standards. This also touches its judicial system which ensures quite a high level of protection of the investors’ rights. Such an approach makes the UK very attractive for different types of investments.
- Developed banking system – the local bank system is deemed to be among the most advanced ones in the world as well. The UK banks ensure exceptional banking services to their clients. Such things are always fast and straightforward. However, adhering to certain compliance requirements is still a must.
Why Select LTD?
LTD is not a single form of running a business in the UK. However, it’s one of the most advantageous ones, for numerous reasons:
- Easy and straightforward process of establishing – this is one of the simplest organizational forms that require fewer registration documents.
- Separate legal identity and finances – LTD is legally and financially distinguished from its founders.
- Limited liability of shareholders – it is actually restricted by the sums invested as a share capital of LTD.
- Flexible ownership and management – only one shareholder and one director are needed to run this type of company.
- Tax benefits – corporate taxes due may be calculated at rates ranging from 19% to 25%. Certain incentives, depending on the industry, are available as well.
LTD Registration at a Glance
As noted before, the process of establishing an LTD in the UK is quite straightforward. It typically comprises the following stages:
- Selecting a business name for a company – it should be original and comply with certain requirements of the legislation.
- Choosing a director and, optionally, a company’s secretary.
- Decide on the number of shareholders and the amount of statutory capital (the latter depends on the types of business you’re going to carry out).
- Preparing registration documents and paying a respective fee.
How Much Should You Pay to Register an LTD?
According to the official information from the Companies House – which is the official UK authority responsible for registering UK companies and handling the information about them – the registration fee for LTD is only £50.
The standard timeline for establishing LTD in the UK is only 24 hours. However, the Companies House often places a special note on its website. It typically says that the registration may take a bit longer than usual due to a large number of applications. This is another sign that the UK is a good destination for starting a business since registering a company is such a popular option.
Bottom Line
Registering the LTD in the UK is a more than good choice. It offers a balance between simplicity and compliance in doing business. What’s good is that the registration in 2024 will cost you only £50. If you need professional advice on the matter, reach the specialists to handle all setting and post-registration matters smoothly!