Are you operating as a sole trader and would like to know how to convert to a limited company? In this video, we explain the process involved, explore whether it is worthwhile doing, and highlight the cost of setting up and maintaining a limited company.
Links:
1st Formations - Information required to set up a company
www.1stformations.co.uk/compa...
1st Formations - Company formation packages from just £52.99
www.1stformations.co.uk/compa...
1st Formations - All Inclusive Package
www.1stformations.co.uk/packa...
1ST Formations - Confirmation Statement Service
www.1stformations.co.uk/confi...
HMRC - Register for Corporation Tax online
www.gov.uk/corporation-tax
HMRC - Tell HMRC that you are stopping self-employment
www.gov.uk/stop-being-self-em...
Chapters:
0:00 Intro
1:18 Step 1 - Register a limited company
3:12 Step 2 - Tell HMRC that you have decided to stop being a sole trader
4:50 Step 3 - Transfer your sole trader business to the new company
6:02 Step 4 - Set up a business bank account in your company name
7:11 Step 5 - Notify all stakeholders about the change of business structure
8:06 Step 6 - Register your limited company for tax and PAYE
9:42 How much does it cost to set up and maintain a limited company?
11:50 Is it worthwhile converting from sole trader to limited company?
About 1st Formations:
1st Formations is the UK’s leading company formation agent. Founded in 2014, we have formed over 1 million companies and assisted many thousands of clients to grow their business with expert advice on limited companies, reporting requirements, and corporate governance.
Website: www.1stformations.co.uk/
Blog: www.1stformations.co.uk/blog/
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