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Before you commit yourself to incorporating a company, it is helpful to take professional advice on whether this business structure is the right one for you. Accountants, lawyers and formation agents can help here.
There are a number of different types of limited company to choose from, which include private companies limited by shares or by guarantee and public limited companies. Most private sector start-ups choose private companies limited by shares.
Choosing a name for your company needs careful thought out. You may already have a brand in mind that you want to grow. However, Companies House has some important considerations that need to be taken into account when choosing a company name.
Firstly, they will not register a company with a name that is too similar to an existing one. This rule is strictly policed, so any concerns you have need to be "flushed out" with them as soon as possible.
Secondly, there are a number of "sensitive" words which may either be refused for registration or may require special permission. You cannot, for example, use a name which implies that you are providing a service on behalf of the British government, or that suggests that your business is accredited in a way that cannot be substantiated.
You can use our online company name checker to find out if your desired company name is available.
Next you or your company formation agent need to fill in the forms that Companies House require.
This is a complication process that can take some time to complete if you go directly through Companies House. However, if you use our online formation service we do all the hard work for you, all you will need to do is fill out a short 4 minute online form with a few details about your company such as the registered office address and the details of the directors and shareholders.
If you decide not to use our online formation service you will need to complete the following documents:
Form IN01 is the official application form to register your company, and contains information about what you intend the company to be called, who the shareholders will be and how many shares they will take. The form should also include details of the directors, together with their names and addresses and dates of birth.
The Memorandum of Association which needs to be filed is simply a list of proposed shareholders and their shareholdings.
The Articles of Association is the rulebook the members of the company intend to use to govern how the company is run and how shares will be dealt with. Companies House provides model ones for each type of company, which are often amended to suit a business' own needs. They are essential reading for anyone subscribing to shares in a company, because they set out the expectations of how everyone involved in the company must behave.
Next Companies House's fees must be paid. The fee level depends on whether you are filing directly online or by post. If you file online and your documents are acceptable, your company registration number may be with you in a matter of hours. If you file by post, you should allow a couple of working days, unless you have opted for the "same day" service.
If you choose to form a company via Companies House you can expect to pay between £18-£100 for the formation (correct at the time of writing) and you will still need to send the documents we have mentioned above.
If you prefer to take the quick and easy route, we are fully integrated with Companies House and our formation packages start from just £19.99 including the Companies House filing fee.
