There are many firms out there which offer you services to get your company incorporated or make you a limited company. Once you are a limited company your profits, losses, liabilities and all assets belong to the company, Quick formations is one company which does this for you.
A limited company is owned by its shareholders and mainly run by its managing directors and the Chairman. This creates a protection for you in a way that if a company should fail because of bad running by the directors the personal holdings of everyone will be protected and no one can touch these.
This will now be known as a seperate entity and will have balance sheets and pay own taxes seperately.
