Difference between private/Limited company

[Toussaint]

Whats the difference between a private limited company and a limited company?

Also, if i wanted to create a business right now, what shall i do? who shall i register to?
What is needed to make my company "real" and certified.

GOV website just confuses me, so can some one just break it down without all the law terminology.

All the best,


Toussaint

 

[Scalloway]

For all intents and purposes a private limited company is the same as a limited company unless you are intending to set up a PLC and sell shares to the public.

If you are planning to set up a limited company and are confused by the terminology you would be best advised to get an accountant to help you set it up. This forum is full of people who have tried doing it themselves and got it wrong.

 

[Gecko001]

Is the OP thinking that a business being run by a sole trader is a "private company". If he/she does think that, they have to realise that you can operate a business without registering it with anybody. You have to tell HMRC about your business activities so that they can check that you are paying tax but you actually do not register the business. Forming something like a Ltd company is a way of forming an entity which is registered with Companies House etc. It is an entity in itself. A sole trader is a person.