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Your ten point plan for setting up a limited company

Setting up a limited company in order to take advantage of practice-based commissioning and other new opportunities to provide NHS services is not as difficult as it might sound. Here is a simple 10-point plan to help you get going from comaniesmadesimple.com

Setting up a limited company in order to take advantage of practice-based commissioning and other new opportunities to provide NHS services is not as difficult as it might sound. Here is a simple 10-point plan to help you get going from comaniesmadesimple.com

Step 1 Write a business plan. This is the best way to make sure that your business is viable to yourself and others. A good business plan is essential if outside funding is required.

Step 2 Get some advice. Although setting up a limited company can be straightforward, it is always best that you get professional advice to make sure this is the right thing for you and your business. A company formation agent, solicitor or accountant can, for a fee, guide you through the process and make sure everything is done correctly. It can even be done online.

Step 3 Decide on the directors. Any limited company must have at least one director and their details must be notified to the Registrar of Companies along with any changes to the directors.

Step 4 Choose a name for your company. Remember first impressions count and what you call yourself communicates a lot about who and what you are to prospective customers and clients. Make sure it is memorable and will help your marketing effort and don`t forget to make sure it works online too. It is also important that it is not the same as or similar to a name already in use.

Step 5 Register your company. To get your company registered you must send the following documents to the Registrar of Companies:

· Memorandum of Association
· Articles of Association
· Form 10
· Form 12

Make sure these are fully completed and signed.

Step 6 Display your company name. The name of your company must be displayed clearly outside all your business premises.

Step 7 Buy new stationery. All company stationery will be required to show the following information:

· Company name
· Place of Registration
· Registered Number
· Registered Office Number
· VAT number

And don`t forget to make sure these details are also on your website.

Step 8 Inform HM revenue and Customs. You will need to tell your local tax office that you have set up in business. It is likely too that you will need to register for VAT.

Step 9 Check you have received confirmation. You are in business when the Registrar of Companies has issued you with a Certificate of Incorporation and confirmed that your application is successful.

Step 10 Start bidding.

You can get going even more quickly, easily and cheaply by setting up your business online. For more information see Limited Company Formation Online

Setting up a limited company is not as difficult as you might imagine

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