Successfully register a company with Companies House
Posted by Vidit Agarwal on December 3rd, 2021
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:
- 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 best option for your business would not only help you to start in a proper manner 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.
- 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. There are a number of rules governing 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.
- Assemble all details needed to register the company: You can refer to the checklist for registration of 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
- Prepare Memorandum and Articles of Association: Articles of association form the rule book of the company which defines how the company is to be run by the directors. Memorandum is a short document which includes no of standard clauses and subscribers to the initial shares. Memorandum and articles of association collectively make up the constitution of the company.
- Register/File the incorporation with Companies House: Once you have collected all the relevant information and documents, you need to send it to the Companies House for their approval and for 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 and 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.
- Wait for the approval: Once you are done with the registration process as listed above, you have to wait to operate the business until you receive the approval from Companies House. If you have registered your company using paper forms, the process of approval will take longer as compared to online option.
- 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.
- Set up company registers: Once your company is registered, you would be required to set up and maintain company books, which include:
a) Register of Directors and their residential addresses.
b) Register of Secretaries.
c) Register of Members/Shareholders.
d) Register of People with significant control.
e) Register of Allotments of Shares
f) Register of Share Transfers
g) Register of Mortgages and Charges
- Other tasks: There are number of important tasks you will need to consider, which might include :
a) Setting up a bank account.
b) Registering with HMRC, which might include registering for VAT.
c) Setting up a website, if you want your customers to find you online.
d) Registering a trademark, if you think it’s important for your business.
In this case, accountants in London can help you with tax advice, company formation, and many more.