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A private limited company, or LTD, is a type of privately held small business entity, in which owner liability is limited to their shares, the firm is limited to having 50 or fewer shareholders, and shares are prohibited from being publicly traded. A company becomes an independent legal structure when it incorporates.
While there is no legal requirement for limited companies to use an accountant there are many benefits in doing so, such as completing your annual accounts and company tax return. They can also take care of tax registration for new companies.