Limited Company Registration

A limited company is an organisation that you set up to run your business. ... Thismeans that each shareholder's responsibility for financial liability is limited by the value of the shares that they own but have not paid for. Company directors of suchcompanies are not responsible for business debts.

What's the tax liability for a limited company? Unlike sole traders, limited companies don't pay income tax and National Insurance. Instead, they pay corporation taxon their profits (income less allowable expenses). The current rate is 19 percent.