UK Limited Company Formation & Registration FAQs
click
on a question to find the answer -
What
types of business can I start?
What
are the benefits of becoming a limited company?
Can
I choose any name I like for my company?
How
can I protect the name I choose for my company?
Where
can I learn more about directors, secretary's, shares, shareholders
and the registered office?
Where
can I learn more about accounts and the financial aspects
of a limited company?
Will my company need company registers and statutory
books?
Can
I change my company name after incorporation?
What
if the company doesn't take-off or I no longer need it?
On
which documents must the company name be shown?
What
details must I include in my company's stationery?
Where
can I obtain further guidance booklets?
Where
can I obtain VAT (value added tax) and Inland Revenue information?
How
do I file my Companies House forms?
Why
should I use Simple Formations?
Are
there any hidden charges or extras to pay with Simple Formations?
How
long before I receive my Certificate of Incorporation?
Can
Simple Formations arrange my company bank account for me?
How
do I change my current registered office to one of your registered
offices?
Can
I speak to someone if I have a question not answered here?
What
types of business can I start?
There
are various forms of business structure available in the UK.
From being a simple sole trader to a Public Limited Company.
To understand these structures follow this link - types
of company
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What are the benefits of becoming
a limited company?
Becoming a limited company bestows many advantages:
-
Risk avoidance limited financial liability
- Reduced tax bills
- Prestige and credibility
- Defined ownership issuing shares to represent
percentage of ownership makes clear who is entitled to what
percentage of profits
- Protection of your business name
- Avoidance of common problems associated with unlimited
partnerships
and
with Simple Formations, you can form
your limited company online today.
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Can
I choose any name I like for my company?
The name of your company will give potential customers
a strong first impression, so it is vital to choose carefully.
In theory, you can choose whatever name you want for your
company, but there are a few exceptions:
If
it is identical to, or too similar to an existing name
If
it is offensive, or if its use would be a criminal offence
If
it uses sensitive words or expressions, as determined by the
secretary of state for trade, which may suggest a connection
with the government
Registering your company online with Simple Formations gives
you a free name check service click
here to find out more.
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How
can I protect the name I choose for my company?
Due to changes in the law in 1985, only businesses required
to register their names with Companies House, mainly limited
companies, can protect their name. This effectively means
that if you are not a limited company or LLP, you cannot register
your name with any government agency and you cannot
protect that name using this method. This only really leaves
trademark protection which is an expensive and complex task.
Register your company with Simple Formations today,
and get vital protection for your business name.
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Where can I learn more about directors, secretary's,
shares, shareholders and the registered office?
The
following section of our website provides various guides covering
areas such as the "role of a company secretary"
through to "the financial aspects of a limited company".
Follow this link for further information.
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Where can I learn more about accounts
and the financial aspects of a limited company?
Every limited company is required by law to submit accounts
to Companies House on an annual basis. It is vital that you
know when your financial year begins and ends and what deadlines
apply for filing accounts with Companies House and the Inland
Revenue. Follow this link for further
information.
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Will my company need company registers and
statutory books?
Company registers or statutory books are files containing
the details that a limited company is required by law to record,
such as a list of company members, the register of directors
and secretaries, and details of any mortgages or charges held
on company property. All of our new company formation packages
provide registers as standard. If you need a register for an existing company you can purchase a company register here.
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Can I change my company name after incorporation?
Yes, a company name can be changed any time after the
incorporation by a written resolution of the members.
Simple Formations can assist with filing a name change
application - please contact us
for details. The process normally takes a week to complete
and you will receive a Certificate of Name Change from Companies
House once completed.
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What if the company doesn't take-off or I
no longer need it?
Private companies that have not traded or otherwise carried
on business for at least three months may apply to the Registrar
to be struck off the register. You can do this by filing a
form 652a.
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On which documents must the company name
be shown?
The company must state its name, in legible lettering,
on the following:
All
the company's business letters
All
its notices and other official publications
Website's owned by the company
All
bills of exchange, promissory notes, endorsements, cheque's
and orders for money or goods purporting to be signed by,
or on behalf of, the company
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What
details must I include in my company's stationery?
Under the Companies Act 1985, unless you trade in your
own name, the company name must be displayed and be clearly
legible on all stationery and publications. Company letterheads
and order forms must also include:
The
company name in its full legal form, printed in legible lettering
The
company's place of registration (for example, registered in
Cardiff or England) and registered number
The
company's registered office address
Companies must also show their registered details on all website's they own.
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Where can I obtain further guidance booklets?
Guidance booklets can be obtained from the Companies House
website: www.companieshouse.gov.uk
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Where can I obtain VAT (value added tax)
and HM Revenue and Customs information?
For VAT information, your accountant is probably your
best source, together with HM Revenue and Customs (HMRC). You can apply for VAT registration online free of charge at www.hmrc.gov.uk . If you anticipate your turnover
exceeding £67,000 in any 12-month period (this is the level
for 2008/9) then you are required to register for VAT by law.
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How do I file my Companies House forms?
You can file your Companies House forms online or by post
and free of charge. By filing online the changes are usually
recorded within 24 hours. Further information is available
here - Companies House filing.
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Why should I use Simple Formations?
To begin trading as a limited company, you are legally
required to register your company at Companies House, and
provide them with certain information on an annual basis.
While it is possible to register your company direct with
Companies House, this can be time-consuming, confusing and
costly. Registering using Simple Formations quick and
easy online service makes much more sense:
On
average a paper application will cost in excess of £100; youll
save money with Simple Formations. Our software generates
the required legal paperwork including the Memorandum and
Articles of Association; to purchase these from a legal stationers
would cost a minimum of £20 and you would still need to amend
them to your requirements. As our software is Companies House
approved you can simply provide some basic personal information
instead of making a Statutory Declaration in front of a solicitor
- saving you on average £20. With a paper application, youd
also need to pay a Government fee of £20, and then have to
obtain Share Certificates and a Company Register. With
Simple Formations, everything you need to incorporate a limited
company is included in the price, which starts at only £31.95
plus vat.
Youll save time with Simple Formations.
Paper applications take a minimum of 5 working days - assuming
the first application is accepted. Using our fast and effective
online service means that your limited company will be incorporated
the same day; often, your company can be formed in
as little as one hour*.
(*depending
on Companies House work load and time of application)
Applications are more accurate with Simple Formations - our
systems have been designed with a number of fail-safes to
avoid errors when filing information. Paper applications are
notoriously difficult to get right the first time due to the
complex nature of the forms, and mistakes will cost you time
and money.
Simple Formations offer expert advice - Companies House offer
no advice based on your personal circumstances or suitability.
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Are
there any hidden charges or extras to pay with Simple Formations?
No. All of our prices are the all-inclusive price
that includes all government fees, legal documentation, printing
and first class postage costs where applicable. If you want
to purchase extras such as a registered office or company
seal, these are also readily available.
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How long before I receive my Certificate
of Incorporation?
Your Certificate of Incorporation is sent to your email
address as soon as it is available from Companies House. This
can be as little as one hour after placing your order, but
we do ask you to allow up to 8 working hours. On rare occasions
Companies House systems may experience very high demand or
technical issues which can lead to delays of a few more working
hours.
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Can Simple Formations arrange my company
bank account for me?
Simple Formations regularly review available business bank accounts and publish details on this web site. Please visit the following link to see what offers or recommendations we currently have in place - Business Bank Account
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How do I change my current registered office
to one of your registered offices?
Its easy -
simply review the available addresses listed here - Registered
Office Service, then contact
us with the name of your company, forwarding address and
payment. One of our business advisors will discuss the transfer
of address and answer any questions you may have.
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Can I speak to someone if I have a question
not answered here?
Yes, of course - we are here to help you. Please do not
hesitate to contact us for friendly
and professional assistance from our team of expert business
advisers.
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