Starting your own Limited company may appear daunting at first. Our easy guide will summarise everything you need to know:
It’s best to have a few names to choose from, as your first choice may not be available. If you do decide to engage an accountant to set up your Company, they will be able to check which names are available with Companies House. The process usually takes less than 24 hours.
You must legally appoint at least one director, which is usually yourself. There is no longer a requirement for small companies to appoint a company secretary. You will also need to appoint a shareholder and a Person of significant control, both usually yourself.
When you run your own business, certain insurances may be needed. Each one is designed to protect your business against claims from different parties. Also, check your contracts to see if they stipulate insurance requirements, and the levels of cover required.