Question 1

Can I incorporate/register a company on my own?

Accepted Answer

Yes, you absolutely can. A team of specialists is not required to help you incorporate or register a new business.

Question 2

What do you need to do to get your company registered?

Accepted Answer

To register your business, you must complete the following steps and submit the following information to Companies House:

– Check your company name is available

– Choose a company structure

– Have a registered business address

– All the information of shareholders, investors and or directors involved in your company

– What shares do you have, and how they are allocated between the shareholders

– Complete the Memorandum and Articles of Association

Question 3

What happens after your company is registered?

Accepted Answer

Once registered, you will have to wait for Companies House approval. This will usually be by letter or email within 2-10 working days. Once approved, you will receive your essential documentation. These are:

– Certificate of incorporation

– memorandum and articles of association

– Share certificates

– Membership certificates (with limited companies)

Your Certificate of Incorporation includes your unique 8-digit Company Registration Number (CRN). You can also locate it on any official Companies House papers you receive and on the public register online by using the Companies House tool to search your company name.

Question 4

What details are required to set up a limited company?

Accepted Answer

When setting up a limited company, you need to send the required details to Companies House when you register, and they are listed below:

– Name of the company

– Company address

– Directors’ details such as name, date of birth and so on

– Shareholder/s information such as name, number of shares and so on

– Secretary details (not compulsory)

You will be able to see all the exact questions and details you have to fill out on the GOV.uk website. There are more things Companies House may ask for depending on your company structure.

Question 5

How long does it take to form a company?

Accepted Answer

When you register your company with Companies House and have given them all the details they need, it takes 15 hours to process the formation if done online, but it can take up to 10 days if registered by post. This can depend on how busy Companies House is at that time.

Question 6

Do I have to be a UK resident to form a company?

Accepted Answer

The simple answer is no. For non-UK residents, the business registration process is the same for UK citizens living in the UK. You do not have to live in the United Kingdom to become a company director, shareholder, or company secretary in a UK company.

Question 7

How much will it cost to form a company?

Accepted Answer

Depending on the sort of business you’re forming, and whether you register online or by mail, you can pay as little as £10 to register with Companies House. However, registering a business using Formation agents may save you money. More importantly, you will receive additional help in completing the application and acquiring any extra services you may require. Because every business registration is different, researching your cost is critical to ensuring you have the money to register.

You can visit the GOV.uk to see all the Companies House registration fees.

Question 8

Why does my company have to be registered with Companies House?

Accepted Answer

It is a legal requirement for all start-ups to register with Companies House. Only those who intend to function as a corporation must register with Companies House. Companies House keep and publish your company records for the government to know which businesses are running in the UK. The government may also monitor UK enterprises and acquire information on the present status of markets and the economy in general by keeping records. Companies House can look up what types of businesses are operating, what industries they are in, who the directors are, etc.

Question 9

What happens if Companies House rejects my application?

Accepted Answer

If your registration documents do not match the requirements of Companies House, they will return your application for revision and correction. You may want to look into hiring a business concierge service or lawyer to look at the documents you sent off to make sure everything is okay.

Question 10

When can I start trading through my new company?

Accepted Answer

As soon as you receive notification from Companies House that your application has been approved, you can begin trading through your new business. If you are to start trading right away and your company is considered “active,” you must file for corporate taxes with HMRC within three months. You must notify HMRC that your company is dormant if you do not intend to trade until a later stage. When you’re ready to start trading, you’ll have to register for Corporation Tax.

Question 11

Is it better to set up a company through a formation agent or by myself?

Accepted Answer

Setting up a company through a formation agent is significantly more efficient and straightforward. They will be able to help you with the registration and give you advice, unlike doing it alone, where you may not know the correct information, which could slow the process down. Formation agents will also offer benefits like a registered address you can use if you do not have an address or do not want to use your personal one.

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