Benefits of sole trader or limited company

You’re legally obliged to choose a suitable company name, which will need to be registered with Companies House. Your company name mustn’t it be so similar to an existing firm that there could be confusion. Helpfully, there’s a search tool on the Companies House websiteso you can check whether the name you. . You’ll need to appoint a director if you’re setting up a limited company. This person will be responsible for keeping company records up-to-date, file. . If you plan to make a profit, you’ll need to issue shares. Initially this can be the director alone, who holds all of the shares. Alternatively, you could sell. . Aside from details of personnel such as the director, company secretary and shareholders, you’ll need to ensure other information is recorded.