Private Limited Company (LTD)

• What is a private limited company often abbreviated as?

  Ltd
• What does limited liability mean for business owners?

  Responsible for debts only up to investment
• What is an example of a private limited company?

  Green Construction Ltd
• Who are the owners of a private limited company called?

  Shareholders
• What must shareholders do to purchase shares in a private limited company?

  Be invited by the business
• What type of tax do private limited companies pay?

  Corporation tax
• What is corporation tax based on?

  Profits of a business
• What is a major downside of founding a private limited company?

  More paperwork and registration requirements
• What must a limited company register with?

  Companies House
• What type of records are kept at Companies House?

  Public records of limited companies
• What is one advantage of a private limited company?

  Owners have limited liability
• How does a private limited company protect itself from outside influence?

  New shareholders must be invited
• What can shares in a private limited company be sold for?

  To raise money
• What is a disadvantage of a private limited company regarding financial information?

  Others can view financial information
• What is a potential issue when setting up a private limited company?

  It can be very time-consuming
• What might a private limited company require for financial management?

  Outside professional help