Step 1: Shape Your Business Idea and Plan
Every successful company starts with a clear idea and a plan to bring it to life. Before registering anything, take time to define:
- What your business will offer
- Who your customers are
- Your pricing and delivery model
- Startup costs and projected revenues
- The level of funding (if any) you may need
If you’re unsure how to translate your idea into a workable model, Dragonfly Associates offers startup consultations…
Step 2: Choose a Legal Structure
Choosing the right structure impacts your taxes, liability, and regulatory responsibilities. In the UK, the most common options are:
- Sole Trader — simple, fast to set up…
- Limited Company (Ltd) — a separate legal entity…
- LLP — ideal for shared professional services
- Company Limited by Guarantee — used for charities
Most entrepreneurs choose a private limited company…
Step 3: Register Your Business
Sole Trader
You must register for Self Assessment with HMRC…
Limited Company
You’ll need to:
- Choose a company name (must be unique)
- Provide a registered office address
- Appoint at least one director and shareholder
- Issue shares and define a company structure
- Select a SIC code
- Submit to Companies House
Dragonfly Associates handles company formation…
Step 4: Register for Taxes
Depending on your business structure, you may need to register for:
- Corporation Tax
- VAT
- PAYE
We manage these registrations under compliance packages.
Step 5: Open a Business Bank Account
A dedicated account is vital for managing income and tax responsibilities…
Step 6: Establish Your Bookkeeping and Accounting Processes
- Track revenue and costs
- Issue and retain invoices
- Prepare for tax submissions
These services are offered through our bookkeeping packages.
Step 7: Understand Ongoing Filing and Legal Duties
- File annual Confirmation Statement
- Submit company accounts
- Maintain director/shareholder/PSC registers
- Notify Companies House of changes
We offer compliance management to help with these tasks.
Why Work with Dragonfly Associates?
- Company formation
- Registered office and service address
- Tax and payroll registration
- VAT services
- Ongoing bookkeeping and filing
- Startup and expansion guidance
All services are tailored to your needs.
Frequently Asked Questions
Do I need to live in the UK to open a company?
No. Non-residents can register UK companies…
Is it difficult to manage the legal side?
Not with support. We handle most filings for you…
Can I get help switching from sole trader to limited company?
Yes. We help clients transition as they grow…
Get Started with Confidence
Starting a business in the UK doesn’t have to be overwhelming…
Contact us to explore your options or request a tailored quote for your business.
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