Questions You May Have About Closing a Limited Company

The COVID-19 crisis has led to many businesses having to shut down. Many sectors suffered, especially the arts and entertainment sector and the leisure travel sector. According to reports, both sectors saw about 80% of businesses shutting down or pausing activities in 2020.

Closing down sign

photo credit: Newtown Grafitti / Flickr

Closing a company is a daunting task that requires sound discretion of all legal formalities and thorough precision. Regardless of why you want to close your limited company, there may be some questions on your mind about the process. This guide to closing a limited company will try to answer all the questions you may have about this concern.…

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Pros and Cons of Setting Up a UK Limited Company

Incorporating your new or existing business as a UK private limited company (LTD) is an incredibly effective way to boost your professional profile and establish a presence in the United Kingdom. Not to be confused with the LLC structure, a UK limited company resembles the legal framework of a US corporation (Inc.) that you would register through application to the secretary of state. As such, you will need to appoint at least one director and one shareholder, you will enjoy reduced financial liability for company debts, you can sell shares to outside investors as a way to raise capital, and the company can exist beyond the ownership of its original founders.…

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