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cre8mktr
05-10-2005, 12:53 PM
Hi everyone,

I have been reading this forum for months now. It's really inspiring and informative for people like me. Keep it up.

I'm going to register my business soon. However, since I'm based in Cardiff for now, I just wonder is there any difference (from legal point of view, good or bad) to register in England or Wales. I'm thinking of using a virtual business address. As I'm using free business advisory service provided by Welsh authority, they insist that I use Welsh address. Anyone can share their thought about this?

Thank you.

Martin
05-10-2005, 12:57 PM
I believe you just register with Companies House which covers both England & Wales.

The actual address shouldn't make no differenence. (As long as it's in England or Wales)

regards,

Martin

James Smith
05-10-2005, 01:02 PM
Matin is quite correct, there is no difference between England and Wales in terms of tax or registration for a limited company.

Whether or not you need a limited company at this early stage is another mater, ie whether you would be better off trading as a sole trader whilst testing the business model.

Regards,

cre8mktr
05-10-2005, 02:15 PM
Thanks for the reply. If there is no difference, it definitely make my choice easier.

James, I'm pretty sure about being limited. But, would like to speak to you soon for further advice.

BMS
05-10-2005, 06:13 PM
Hi

I trade from South Wales but have a registered office which is in London..............How confusing is that !

Play!!
05-10-2005, 07:00 PM
Depends what you do. If you are a fashion designer to the rich then an address in London would do you favours for example.

Unfortunatly English and Welsh law is the same. I wish it wasnt and the speed cameras stopped at the border. As you go deeper into local authorities things change. We live in Cardiff so there might be grants and things here that arnt available in other areas.

Why are you sure that you want to setup as a Ltd company mate?

Im still learning about that aspect of business and want to learn every reason for doing it, thats why I ask.

cre8mktr
06-10-2005, 06:21 AM
<Unfortunatly English and Welsh law is the same. I wish it wasnt and the speed cameras stopped at the border. As you go deeper into local authorities things change. We live in Cardiff so there might be grants and things here that arnt available in other areas.>
You are right. I would like this to happen to.

<Why are you sure that you want to setup as a Ltd company mate?>
The main benefit for myself is that it separate me as individual and my company as another entity. Thus, hopefully I will be able to protect what I've own now.

<Im still learning about that aspect of business and want to learn every reason for doing it, thats why I ask.>
No problem. We learn more by asking questions. Hope my answer helps.

James Smith
06-10-2005, 09:11 AM
cre8mktr,

I would be pleased to have a chat with you on the 'phone before you incorporate just to make sure it is the right thing.

Regards,

urban1
06-10-2005, 09:47 AM
You just have to remember that banks can ask for personal guarantees from directors to secure their investment in the same way as they would for sole traders etc...