How to Set up a Small Business quickly in the UK

You have had a business idea and you want to get going to start selling your idea and making money, but what is the best way of going about this?

Firstly in almost all cases it is worth getting a Limited Company established. A Limited Company is a separate legal person to you or anyone else linked to the business. This has important benefits for you, namely that if anything goes wrong with the business then nothing affects your own personal assets including your house. If you are a sole trader and have debts, in most cases the creditors could come and repossess your house or at least look at your personal assets. A Limited Company prevents this and ensures that you can trade safely in the knowledge that if there are problems the only assets that are affected are your business assets.

There are disadvantages of having a Limited Company and they are namely that you will need to submit accounts every year and also appoint an accountant to prepare these for you in terms of Corporation Tax. However if your company does not trade then there is no need to submit accounts and you are simply listed as a dormant company.

Companies House will also require you to file an Annual Return every year which will set out your officers (Directors and shareholders, and Company Secretary) and also who owns the shares in your business.

This is another disadvantage for you as it does mean that the general public can see who owns your company and what money you have made from it.

There are ways of hiding this, including the use of holding companies and trusts to mask the true ownership of the business and this is fairly common in high value companies where the owner has overseas bases and is trying to avoid paying tax in one particular jurisdiction. However for most small businesses there is very little point in trying to hide this detail as the information the public can gain access to is so basic it very rarely details anything in relation to your earnings.

So how do you set up a Limited Company?

Firstly you get in touch with a company like  www.businessbusstop.com.  For as little as £35 you can get a Limited Company, together with the documentation and Certificate of Incorporation, together with Registration with Customs and Excise and the VAT office which immediately means you are able to start trading.

It is very simple and no longer requires the services of a solicitor or the complicated techniques in the past of purchasing companies off the shelf and having to go through change of name, paying extra fees for doing this. The internet has changed all of this and now there is a very easy solution to forming a company, which is extremely cost effective.

Not only this, but the formations company can also recommend free business banking as well as interest accounts that actually pay on cash deposits. They can also do all the accounting requirements as well as debt recovery and any other ancillary financial services you may need. For full details please contact www.businessbusstop.com.