{"id":74,"date":"2024-06-17T12:37:00","date_gmt":"2024-06-17T11:37:00","guid":{"rendered":""},"modified":"2025-06-30T12:54:12","modified_gmt":"2025-06-30T11:54:12","slug":"what-are-incorporated-businesses","status":"publish","type":"post","link":"https:\/\/www.thetrainingplace.org\/blog\/2024\/06\/what-are-incorporated-businesses\/","title":{"rendered":"What are Incorporated Businesses?"},"content":{"rendered":"

WHAT ARE INCORPORATED BUSINESSES?<\/span><\/b><\/b><\/p>\n

Incorporated businesses<\/span><\/b>
\nare set up with Companies House and are governed by the Companies Act; and these require more stringent rules to be complied with along with the tax rules to comply with. The incorporation process establishes a company which becomes a separate legal entity from its owners.<\/span><\/p>\n

<\/a><\/div>\n

They are required to file annual returns and annual company accounts with Companies House and also file annual tax returns with HMRC. These will include the different types of companies.<\/span><\/p>\n

\u00b7 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/span>Private limited companies (LTD)<\/span><\/p>\n

\u00b7 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/span>Public limited companies (PLC)<\/span><\/p>\n

\u00b7 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/span>Limited liability partnerships (LLP)<\/span><\/p>\n

Your task:<\/span><\/b><\/p>\n

Identify 3 features of an incorporated business
\n<\/span><\/b><\/p>\n

Hints:<\/span><\/p>\n

\u00b7 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/span>Limited liability status and what this means<\/span><\/p>\n

\u00b7 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/span>Type of tax payments<\/span><\/p>\n

\u00b7 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/span>Which tax returns should be filed<\/span><\/p>\n

\u00b7 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/span>What the owners are called<\/span><\/p>\n

\u00a0What is the make up of their accounts and financial statements<\/span><\/p>\n\n\n

AAT Level 3 | The Training Place<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

WHAT ARE INCORPORATED BUSINESSES? Incorporated businesses are set up with Companies House and are governed by the Companies Act; and these require more stringent rules to be complied with along with the tax rules to comply with. The incorporation process establishes a company which becomes a separate legal entity from its owners. They are required … Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":206,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,28,22],"tags":[],"class_list":["post-74","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aat","category-business-awareness","category-level-3"],"yoast_head":"\nWhat are Incorporated Businesses? - The Training Place Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thetrainingplace.org\/blog\/2024\/06\/what-are-incorporated-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What are Incorporated Businesses? - The Training Place Blog\" \/>\n<meta property=\"og:description\" content=\"WHAT ARE INCORPORATED BUSINESSES? Incorporated businesses are set up with Companies House and are governed by the Companies Act; and these require more stringent rules to be complied with along with the tax rules to comply with. The incorporation process establishes a company which becomes a separate legal entity from its owners. They are required ... 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