How to Register your Limited Companyby Vidit Agarwal Marketing Director
If you have a new business in mind and decided
to start with a Limited
Company, then you have to register your company with Companies House by:
1. Decide if it’s really a
limited company that you need: A little thought at the beginning to whether a
limited company or sole trader would be the best option for your business would not
only help you to start properly but will also save you from spending
endless hours on the phone to HMRC, completing and resubmitting forms and all
in all it will save you tearing your hair out.
2. Choose a good company name: A good name can be a real asset to your business; however, you need to follow certain rules before you zero down on one. Several rules govern what can be chosen as a company name when you
register a new company, the most important being that it’s different from any
company that already exists.
3. Assemble all details needed to register the company: You can refer to the checklist for registration of the new company for the full list, but the information mostly needed is:
a) Name of the company
b) A UK registered office address.
c) Anticipated activities of the business need to be listed down.
d) Details of share capital
e) Company director and, if required, company secretary details.
f) Initial shareholder details
4. Prepare Memorandum and Articles of Association: Articles of association form the company's rule book, which defines how the company is to be run by the directors. Memorandum is a short document that includes no standard clauses and subscribers to the initial shares. Memorandum and articles of association collectively make up the constitution of the company.
5. Register/File the incorporation with Companies House: Once you have collected all the relevant information and documents, you need to send them to the Companies House for their approval and for the issue of Certificate of Incorporation. For the same, there are 3 different options, for which different fees are charged by the Companies House.
All company incorporation documents are subject to checks. Once all documents satisfy all the required and appropriate examination and company name checks, your company gets incorporated at the Companies House, and a Certificate of Incorporation is issued.
6. Wait for approval: Once you are done with the
registration process listed above, you have to wait to operate the business
until you receive approval from Companies House. If you have registered
your company using paper forms, the process of approval will take longer than the online option.
7. Conduct Company’s first board meeting: It is always best to hold a meeting of the directors to cover some of the necessary formalities within a few weeks of registering the company.
In this case, accountants can help you with tax
formation, and many more.
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Created on Nov 18th 2021 06:14. Viewed 113 times.