Private Limited (LTD)

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  • Created by: 11CJames
  • Created on: 06-01-16 10:46

Private Limited basics

  • The business is incorporated (business is separate to the owner).
  • Limited Liability (you can only lose what you invested).
  • LTDs pay Corporation Tax on any profit they make.
  • An LTD usually has a few shareholders as owners and directors.
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Other information

  • LTDs will have a complete Memorandum of Association which is the legal document to set up the business.
  • They must have an accountant and provide all their financial information to the government so they can work out how much tax they should be paying.
  • The staff are employed by the company to do the jobs.
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