Budget 2026: what it means for you and your business —
In short
We form companies properly rather than quickly. That means the right structure, the right share classes and the right shareholdings from day one, registered with Companies House and with HMRC for corporation tax, PAYE and VAT as needed. Getting the share structure right at formation costs almost nothing; restructuring it later can cost a great deal, and sometimes triggers tax.
The shareholders and their percentages. Easy to set, painful to change. Transfers later can trigger tax.
The share classes. A single class of ordinary shares is fine for a single owner. If you have a spouse, future
investors, or key employees you may one day want to reward, alphabet shares or a class structure created at
formation give you flexibility that is expensive to retrofit.
The directors and PSCs, who must now verify their identity under ECCTA.
The registered office — your home address becomes public unless you use a service address.
The articles of association. The model articles are a default, not a decision.
Incorporation is only the first step. You will also need to register with HMRC for corporation tax (within three
months of starting to trade), and, depending on circumstances, for PAYE (before the first payday), VAT (once the
£90,000 rolling threshold is in sight), and the Construction Industry Scheme if relevant.
We handle all of them, and set up your cloud accounting at the same time, so you are operational rather than merely
incorporated.
Not necessarily. A limited company gives limited liability and can be more tax-efficient above a certain profit —
but it brings public filing, more administration, and the 2026/27 dividend rates bite harder than they used to.
We would rather tell you to stay a sole trader for another year than incorporate you into a structure that costs you
money. See Business Start-Up & Structure.
Everything else at formation can be changed cheaply. Share ownership cannot — transfers can trigger tax, and
unpicking a structure to admit an investor or grant EMI options later is far more expensive than getting it
right at the start. Ten minutes of thought now saves a great deal later.
Structure first, incorporation second — we ask the questions the online form doesn’t.
Share classes designed for where you’re going, not just where you are.
All registrations handled — corporation tax, PAYE, VAT, CIS.
Cloud accounting set up from day one — operational, not just incorporated.
We’ll tell you not to incorporate if that’s the right answer.
This page provides general information about the 2026/27 UK tax year and is not advice on your particular circumstances. Tax and regulatory rules change frequently. Please contact us before acting, or refraining from acting, on anything set out here. LMJ Group is a firm of Chartered Accountants regulated by the ICAEW. LMJ Group is not a registered auditor and does not provide audit services. Last reviewed: July 2026.
