When you start a limited company, you have the potential to make a lot of money. Such benefits of forming a limited company include limited liability if any debts accrue and share dividends being taxed less when compared to the percentage which is applied under the PAYE system. However, in order to form a limited company, there is much which has to be done. A considerable amount of paperwork has to be filled in and directors have to be appointed. All of this takes time and, as the saying goes, time is money. When wanting to form a limited company, you don’t have to do this yourself because you can buy a ltd company.
How a limited company can be purchased
When you want to buy a limited company, there are many options which can be considered:
Limited company Formation Agents can help you to buy a limited company. Experienced and knowledgeable because they have helped others to purchase limited companies before, Formation Agents reduce the amount of time which is required in order to do so. If you haven’t run a company before, a Formation Agent can provide assistance by answering any questions and giving you every single piece of paperwork which has to be completed in order to form a company. Thanks to Formation Agents, a limited company can be registered after only a couple of hours.
A company which already exists
As with other types of companies, a limited company which exists can be purchased. You can take control of a limited company after its directors resign and appoint you in place. When buying a limited company, the registered address must be changed by contacting Companies House. Directors must also complete a ‘stock transfer form’ which represents the reassignment of shares from the previous shareholder to your own shareholders. Once shares have been transferred, a limited company has now changed ownership. It is recommended that before buying a limited company and putting the processes into place, you should seek assistance from an accountant.
Off the shelf
As well as assisting a director to form a limited company, a Formation Agent can also help you to buy a limited company which already exists. Otherwise known as readymade companies, a Formation Agent can assign ownership of a limited company which is off the shelf by resigning the existing company appointments. A Formation Agent will also change the registered address on your behalf as well as completing a ‘stock transfer form’. Once this has been done, you now own a readymade limited company.
When you buy a ltd company, the hassle caused when starting one yourself is not apparent because all of the hard work will be done on your behalf.