A Limited Company is a type of organisation that is established to run your business while protecting owners from personal liability.
A Limited Company is a type of business entity that is legally separate from its shareholders. They are often set up to protect owners from personal liability for things like business debt.
Limited Companies are established through Companies House. Directors of the company are legally responsible for keeping accounting and tax obligations up to date and correctly filing them on time. The company is required to pay Corporation Tax on profits and have to register for VAT when their turnover exceeds £85,000.
Limited Companies have legally separate finances to their owners. This is different to being a Sole Trader, where you own the same assets and liabilities as the business.
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