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By valero
- In Uncategorized
It seems incredible, but with the number of recommendations we have given you to create and manage a company in the UK, we have not yet listed the requirements for registering a company in the UK.
In the following article we will tell you the simple steps of this process. Requirements, price, where to do it from, necessary advice… Let’s get to it!
Requirements for registering a company in the UK
Anyone over the age of 16 can register a company in the UK, whether they live in the country or not. You also do not need to be a UK citizen.
What you do need is a properly registered company name, a UK registered tax address and at least one director. You also need to state the objects of your company.
Types of companies that can be registered in the UK
We have already told you in several articles which type of company is the most common and preferred in the UK. We will now remind you of them and add a few more so that you don’t miss any details.
Sole trader and Private Limited Company (Ltd) are the most common company types. Public Limited Companies (PLC) and partnerships can also be registered.
As Ltds are the most common, we will focus on how to register this type of company in the UK.
Steps to register a company in the UK
The first thing you need to do is choose a name for your company. Click here for our step-by-step article on how to do this. You also need to have a tax address where you can receive official communications. Click here to find out more.
The next step is to appoint the director and shareholders of your company. In both cases it can be the same person or a single one. However, in the latter case you will need to notify how many shares each shareholder owns.
If there is one step more important than any other, it is the drafting of the articles of association and the objects of the company. Companies House offers a standard template on its website, but you can modify it if you need particular conditions.
Think carefully about what you are going to add in those documents because they are the pillars where your future company will stand on.
You must also indicate the SIC code, which is the activity code that represents your business.
You can register your company directly from the official Companies House website in 15 minutes. The confirmation takes only 24 hours and it cost just £12.
Once you have completed the process, you will receive some documents. On the one hand, the Certificate of Incorporation, which officially confirms the correct registration of your company. Also, you will get your Company number and your password to access your personal account in Companies House.
What documents do you receive when register a company?
It is necessary to register these documents to be able to operate normally in the UK: His Majesty’s Revenue & Customs (HMRC). Through HMRC, you will be able to manage and pay your taxes, VAT or register employees. See our article on how to pay your taxes in the UK to keep up to date with all your obligations.
You can also do it online and with the help resources on the same page.
Conclusion on the requirements for registering a company in the UK
As it happens with all the processes about setting up and running a business, registering your own business in the UK is a simple and quick procedure. All you need is a company name, an address, a director and all your details are well organised and traceable, so get started on your next venture!
