Preparing to set up a UK limited company
Katerina Galkina · EN · 07/10/2026
Читать на русскомEstablish why you need a company
A limited company is not the right starting structure for every business. Compare liability, partners, client requirements, reporting costs and funding plans. GOV.UK starts with choosing the appropriate structure ↗, rather than buying an incorporation package.
Prepare a description of your service, expected turnover and costs, customer countries, ownership and intended personal income for an adviser. Do not choose solely on a promise of lower tax; the complete calculation matters.
Prepare the registration details
For a company limited by shares, identify directors, shareholders, shareholdings and people with significant control. Agree the name, registered office, SIC code and governing documents. With several owners, discuss decisions, exits, intellectual property and conflicts before incorporating.
Check which information becomes public before entering your home address. An address service must actually handle official correspondence; an impressive London address is insufficient by itself.
Identity verification and starting operations
New-company registration requires directors’ Companies House personal codes. Mandatory identity verification began on 18 November 2025 ↗. PSC verification details have a separate submission process and deadline; check your role even if you are also a director.
After incorporation, organise business banking records, tax-service access, document storage and a calendar. Check Corporation Tax, PAYE if paying wages and VAT where applicable. Incorporation does not automatically establish immigration permission to work for the company.
Budget for ownership, not just incorporation
Ask for separate costs for setup, annual accounts, Company Tax Returns, confirmation statements, payroll, VAT and advice. Clarify whether software, an address and responses to HMRC letters are included.
Directors remain responsible for reporting ↗ even when they appoint an accountant. Agree who controls access, prepares records and checks deadlines. Keep company money distinct from personal spending and document withdrawals correctly. Before paying for a registration package, obtain the first-year obligations and the cost of closing the company if the project never starts.