Do It Yourself LLC
How To Form A Limited Liability Company
A limited liability company is a legal business entity where members can not be personally liable for debts, as it separates a business and it’s assets from the owners of the company. The LLC is relatively easy to establish in comparison to other entities for business
Paper works to set-up a limited company
To complete the incorporation process the following documents must be completed by you. After completion of the documents it is essential to return those to companies house in order to complete the incorporation process.
1)memorandum of associations – The memorandum of association includes the objects, scope, name of the company, location, typ of business of the proposed limited company
2)Articles of associations – The articles of association consist of the rules for running the company’s internal affairs in a comfortable manner. The articles of association outline the issues of shares, share capital, name of the directors and power of the directors.
3)Form 10 – It provides detail of the First directors, name and address of the company secretary along with the registered company address
4)Form 12 – This document is very essential when incorporating a company in uk. After the other incorporation form completed the form 12 should be dated and signed up.
These are the documents often prepared by the company formation agents.
Advantages of Limited Company formations:
Less administrative paper work
It is not affected by the death, bankruptcy, mental disorder or retirement of members
It separates a business and it’s assets from the owners of the company
It enables you to conduct business in UK
Limited company Formation allows the company to exist until it is wound up
It provides continuity after the alteration or change of share holders
No requirement of annual general meeting
Can be set up with one member
It enables tax planning for directors holding shares
Disadvantages of limited company formation:
Limited company formation requires more formalities
All companies require filing their annual account with the company registrar
It may be more difficult to raise fund for an LLC
By: Rudradatta Rath
Article Directory: http://www.articledashboard.com
This article was written by Mr. Rudradatta rath provided courtesy of Lincroft.co.uk which is a leading online company incorporation and business registration agent based in UK provides www.lincroft.co.uk ">limited liability company formation, company registration and accounting services to both UK and international clients.
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