I am a joiner. What type of company should I incorporate?

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Hi

Trying to set up my own company as a joiner. Do you have any advice about what type of company I should form. I know nothing about structures etc, so I need all the advice I can get.

Cheers

Alan Soutar

Answers

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Hi Alan,

The best type of company for you would be a private company limited by shares. You can register and run this type of business structure on your own or with other people, and you can employ other people to work for you as well.

As soon as you start trading through a company, you will be protected by limited liability so you will not be personally responsible for paying any debts or claims other than what you agree to invest in the business.

To set up a limited company, you will need to complete an online application for Companies House. You will be asked to provide details about your business - name, official address, name of the director and shareholder, and the number of shares you want to issue (one is fine).

When your application has been approved (usually within 3 hours), you can start trading as a company. You will have to register with HMRC for Corporation Tax, Self-Assessment and PAYE.

To find out more about this type of company, please click here.

10 months ago
 

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