Company Formation UK: Things to Consider

Company Formation UK: Things to Consider


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Description - Are you planning to startup a company? Company formation UK requires a specified set of steps that should be followed.



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Published 01 May 2017
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Company Formation UK: Things to Consider
Are you planning to startup a company?Company formation UK requires a specified set of steps that should be followed. These steps are identified by-laws of the government. The most common form of company that is formed is a private limited company. Setting up a private limited company will mean that the company is legally separated from the people who are working in it. Moreover, the company also has the specified financial from the personal finances of the people.
Things to consider while forming a company: For the formation of the company in the UK, you need to have certain legal documents. The Company formation UKcan be done only in the presence of specified information that includes the following: The name of a company Official address of a company Name of at least one director Details of the company’s shares and shareholders The SIC code for the company that will show the working nature Apart from above, forcompany formation UK, the agreement of the shareholders is also required.
1. Choosing a name: The first step of the Company formation UK includes the selection of a name that is unique and appropriate. However, there are some rules that are specified by the government which should be followed. The rules and laws also include that the name of the company must not match any other existing company in the UK. Moreover, the addition of the type of company in the name should also be done like ‘Ltd’. Make sure you avoid same as names.
2. Company address: The second step of Company formation UKis the decision of company address. It will be official one where all the communications will be done. For example, the letters from the Companies house will be sent to that official address. The address must be in the UK i.e. it must be registered in the same country in which the company will operate. You can also use a PO Box but still, you need to have a physical address.
3. Specification of company directors and company secretary: The next step in the Company formation UKis to specify the directors that will be using handling the operations of the company. Each company must have at least one director and they will be legally responsible for running the company. Moreover, it is also included that they will make sure the proper functioning of company accounts and preparations of daily reports. There is no obligation that the director has to be in the UK but there must be an official address. The name of the directors will be provided to the Companies House for further procedures.
4. Company registration: The next step that should be followed in the Company formation UK includes a proper legal registration of the company. There are two ways in which this registration process can be done. The first one is through the online process and the second one is the post. For online registration, you need to pay the registration cost and then submit the application that will state your wish ofrmfoyannioatpmoCUK.
The registration process by post will be done by posting the specified documents to the Companies House. However, this process will take few days, 8 or 10 for the completion of the process. There is also an option of getting your company registered on the same day if the application is sent to the Companies House by 3 pm. The fee for urgent registration might be different. There are some other ways too through which you can get your company registered. These ways include the hiring of an agent who will complete the process on your behalf. Moreover, you can also utilize the third-party software for this purpose. After the completion of the registration process, the company will be provided with a certificate of incorporation that will confirm that the company has a legal existence. The certificate will also contain the company number and the date at which it was formed. These are the points that should be fulfilled for thecompany formation UK.