This list is designed to provide tips on how to register and establish limited company in the United Kingdom.
- Decide whether you can register the business yourself or if you need the help of an accountant
Dealing with registration yourself can be time-consuming, especially if you make a mistake, and Companies House staff will not advise you about specific matters such as the content of the memorandum and articles. If you choose to use our services, all you need to do is provide some basic information and a few signatures – and we handle the rest.
- Decide on the company officers
Company officers are the formally named directors, and you have to have at least one appointed director at all times. A limited company does not need to have a secretary unless the company’s articles of association necessitate it. Generally, anyone can be appointed company director and the post does not require any formal qualifications.
- Allocate shares
You will need to allocate shares in the company – dividends are distributed to the shareholder/s of the company, which is how you will take most of your income.
- Choose a name for the company
There are some limitations – you can’t include sensitive words like ‘international’ and it must also not be offensive or imply criminal activity. Your name cannot have been registered by anyone else, and must finish with the word limited but not have it elsewhere. You can check for individuality by searching the Company Names Index at Companies House and the Trade Marks Register at the Patent Office. Refer to the Business Names Act 1985 and the Company and Business Names Regulations 1981 for more information.
- File the correct documents with Companies House
The following documents form part of your limited company registration:
Form IN01 which contains details of the company name, the location of the registered office address, the consenting company secretary (if applicable) and director(s), the shareholder details and the share capital information.
Memorandum of Association which contains the names and signatures of the shareholders who are forming the company and for companies limited by shares a commitment that each shareholder will take at least one share.
Articles of Association
This is where you set out the rules for running your company, including details of running the company, internal management affairs and legal responsibility. If a company chooses to use the standard Model Articles they do not need to file them with Companies House.
- Receive your Certificate of Incorporation
Each new Limited company is ‘incorporated’ on a specific date, which appears on your Certificate of Incorporation. Your company’s first year end will usually fall on the last day of the month after the anniversary of incorporation – e.g. if your company was incorporated on 15th June 2011, your first financial year end will fall on 31st July 2016. Shortly after the Company is incorporated, you will receive your ‘Company Statutory Books’ and these should be filed away for safe keeping.
Square Mile Accounting can help your company is set up optimally. Unlike some other providers who charge additional fees for services, Square Mile Accounting provide everything you need for one monthly fee, with no hidden costs. If you take advantage of our services, we’ll help you do everything as part of our monthly fee.
Please get in touch with us to see how we can help you.