Private limited companies (Ltd)
A limited company is a separate legal entity from its owners. Shareholders’ liability is usually limited to what they paid for their shares, and the company files its own accounts and corporation tax returns.
Most trading SMEs use this structure. You get a registered name at Companies House, a requirement to file annual accounts and a confirmation statement, and ongoing duties around PSC registers, dividends, and directors’ loan accounts. Getting the rhythm right early—bookkeeping, payroll, VAT where relevant—stops year-end from becoming a rescue mission.
What founders typically navigate
- Incorporation and share structure, plus statutory registers and filings on Companies House.
- Corporation tax on company profits and alignment with statutory accounts.
- Payroll (PAYE) if you take a salary, and dividends documented in line with distributable profits.
- VAT registration and MTD returns when you cross thresholds or opt in voluntarily.
- Governance basics: board decisions, minutes where appropriate, and clear separation of personal vs company spending.
This page is general information, not advice for your situation. If you are setting up or scaling a Ltd company, book a discovery call and we will map what “good” looks like for your stack.