Private Limited (LTD) 0.0 / 5 ? Business StudiesOwnership and controlGCSEWJEC Created by: 11CJamesCreated 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. 1 of 2 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. 2 of 2
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