How do I unlist a from companies house?

The SIC code is a five-digit Standard Industrial Classification code. These codes are used by government bodies and agencies to systematically identify and categorise the principal business activities of companies operating in the UK.

Limited companies provide numerous benefits, from tax savings to limiting your liability.

But the first step is to understand what a limited company is exactly, and whether setting up such a company can help you achieve your goals. This article will clearly explain the pro's and con's so you can make an educated decision.

In a nutshell, a limited company is a private company that's a separate legal entity from its owner(s). For freelancers and contractors, a limited company is one of the three main business structures that you may use to run your business (the others being sole trader and umbrella companies).

In this article, we walk you through:

• What a "separate legal entity" means
• The different types of Limited Companies
• The pros and cons of setting up a Limited Company
• How to start a Limited Company

Your responsibilities as a limited company director include:

• Your company must be registered at Companies House
• Your company's annual accounts must be filed at Companies House
• A Confirmation Statement must be submitted annually. This can be done online or via post. This is a filing requirement introduced in 2016 to replace the Annual Return (Form AR01).
• Submit an annual Corporation Tax to HMRC. Any outstanding tax must be paid within nine months and one day of your company's year-end accounting.
• Register for Self Assessment with HMRC, and submit your personal tax return each year.
• If you have employees and are running the company payroll, you need to report your employees' payments and deductions to HMRC on or before your employees' payday. You need to pay what you owe to HMRC each month.
• If your VAT taxable turnover exceeds the VAT threshold, you'll need to register for VAT and complete your VAT returns online at the end of every financial quarter.
• Maintain proper company records

Directors

• Directors have the responsibility of running and managing a Limited company;
• Directors are responsible for ensuring all company accounts are filed with HMRC and Companies House;
• Directors must have board meetings to decide on company activities ‚- including taking a dividend.

Shareholders

• Shareholders are not involved in the running and managing of the Limited company;
• Shareholders are involved in some decisions, like the change of company name, however not day to day running;
• Shareholders are entitled to take dividends from the company, as long as these can be justified from their role in the company.

Employees

• Employees work for the Limited company and are employed. They will receive a monthly salary from the Limited company.
• They are not part of any decision making process and do not have any rights to dividends.

You can appoint a new director, terminate the appointment of a director or change the director's personal details online, or by downloading the relevant forms and submitting it to Companies House by post.

You can change the name of your limited company through a third party (such as a company formation service), or directly with Companies House.

If you're opting for the latter, you need to complete form NM01. There is a £10 fee payable to Companies House to file the form.

If you're trading as a limited liability partnership, you need to file form LL NM01. A £10 fee applies.

As the director of a limited company, your responsibilities include:

• Your company must be registered at Companies House
• Your company's annual accounts must be filed at Companies House
• A Confirmation Statement must be submitted annually. This can be done online or via post. This is a filing requirement introduced in 2016 to replace the Annual Return (Form AR01).
• Submit an annual Corporation Tax to HMRC. Any outstanding tax must be paid within nine months and one day of your company's year-end accounting.
• Register for Self Assessment with HMRC, and submit your personal tax return each year.
• If you have employees and are running the company payroll, you need to report your employees' payments and deductions to HMRC on or before your employees' payday. You need to pay what you owe to HMRC each month.
• If your VAT taxable turnover exceeds the VAT threshold, you'll need to register for VAT and complete your VAT returns online at the end of every financial quarter.
• Maintain proper company records.

A limited company is a type of business structure where the company has its own legal identity. The assets and liabilities of the company are separate from the personal finances of its owner.

To restart a dormant business, you need to take the following steps:

1. Tell HMRC that your business has restarted trading by registering for Corporation Tax again.
2. Send accounts to Companies House within 9 months of your company's year end.
3. Pay any Corporation Tax due within 9 months and 1 day of your company's year end.
4. Send a Company Tax Return - including full statutory accounts - to HMRC within 12 months of your company's year end.

A company number (also known as a company registration number) is an eight-digit number that is assigned by Companies House to a company upon incorporation.

You can locate the number on your certificate of incorporation. The first digit of the company number is usually a zero, and is omitted in most instances. As such, your certificate of incorporation will show a seven-digit company number.

If you're planning to start out on your own, one of the most important decisions you'll need to make is figuring out how you should structure your business.

As a freelancer, contractor or small business owner, there are three main types of legal structures you should consider:

• Sole proprietorship
• Limited company
• Working through an umbrella company

It's a decision that requires careful consideration, and it's important that you seek advice from qualified professionals when you weigh out the pros and cons of each business structure. To begin with, you need to have a good grasp of the basics - and here's where our guide comes into the picture.