We hold a large stock of ready-made UK Companies with suitably drafted business objects ready for immediate transfer and which are certified not to have traded. All our companies are able to trade in virtually any area of business, irrespective of the name. We generally hold in excess of 250 ready-made companies the names of which change daily.
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Own Name Companies
All proposed names are checked at Companies House to ensure availability, suitability of name and where appropriate the use of sensitive words such as "International", "Holding" , "Group" and others.
Advantages of a Limited Company
There are a number of advantages to forming a Limited Company the most obvious being "Limited Liability". Unlike a partnership or Sole Trader if a Limited Company should be unsuccessful the Company would be wound up and only Company property can be claimed by Creditors. Directors and Shareholders have no personal liability whatever (unless they have acted improperly) and there are no restrictions on the Directors forming another Company.
A Limited Company enjoys more favorable tax concessions than either Sole Traders or Partnerships. It is subject to tax but profits are not normally subject to higher rates of personal tax. Directors pay tax but they are entitled to claim all the normal personal allowances against income. This compares favorably with Partnerships for example as their profits are divided for tax purposes amongst the partners and they are assessed personally on these amounts at once even if they have not actually drawn any cash out of the business.
Protection of Business Name
No two limited companies are allowed to have the same name. Before proceeding to register a new Company the proposed names are checked for availability and suitability. This protection is not afforded to individuals or partnerships.
The ownership of a Company is known precisely, so it is easier to value and buy and sell.. The owners are listed along with the proportion of the company that they own. The relationships between joint owners are consequently far less complex than most Partnership agreements. A share in a company can be sold or given away, for example in a Will but when a Sole Trader dies so does his business.
The death of a Partner ends a Partnership and the ensuing division of the assets could ruin the business. With a Limited Company the death or resignation of a Director does not affect the structure of the Company which continues as before. The Shares of the deceased Director pass to the others in accordance with the Articles of Association.