1. Decide If a Limited Company Is Right for You

For some people, it makes more sense to become a sole trader. Here, you are in full control of your company. There are no directors or shareholders to consult. And you don’t need to register with Companies House.

Alternatively, you might want to consider entering a business partnership. In this example, you pool your resources with one or more owners and share in the profits and losses of the business.

But there are major benefits to registering a new company:

• Your personal assets should be protected if the company hits the rocks (limited liability).
• You can manage your tax effectively by drawing dividends from the company’s profits rather than drawing a salary subject to income tax.

Not sure whether a limited company is right for you? Give one of our business experts a call on 020 7129 8651 (or click ‘feedback’ on the sidebar), Mon-Fri, 9-5.30, for some free advice.

2. Choose a Unique Name for Your Limited Company

Before you register a new company with Companies House, you need to pick a unique name that describes your business.

• You might want to include details such as your location in the business name.
• You should also give some thought to including words that describe the service you offer.
• Make sure to pick a name that is easy to pronounce and easy to spell. Consider asking a graphic designer to work it up with a company logo – how does it look?

Got a name in mind? With our free online search tool, you can check whether your company name is available with Companies House.

3. Speak to an Expert

A company formation specialist can help you:

• Register your company with Companies House
• Decide how best to structure your company to manage your tax more efficiently
• Complete the Memorandum of Association that spells out how you will run your company and for what purpose
• Issue shares to other shareholders and understand the types of shares available and how they work

Did you know? With our company formation packages, you can register a new limited company online and get expert help when you need it. There are four packages to choose from:

• E-Formation (£9.99): perfect if you want to secure a company name and don’t need any official printed documents.
• Essential (£19.99): offers you complete confidence that when registering a new company you have the rules and regulations covered.
• Entrepreneur (£59.99): kick-start your next big venture with official compliance and additional documents of incorporation.
• Super (£89.99): the complete secretarial and compliance package to establish your company on a robust footing.

Best of all, when you sign up for one of our company formation packages, we pay the £12 Companies House filing fee for you!

4. Register the New Company with Companies House

Companies House is the government agency that holds the records of all the limited companies in the UK.

• They’ll want to know the name and address of your company and the name of the company director and company secretary
• You will also need to fill in and return some forms.

If you don’t have a separate address for your business you should use your home address to register your new company. But if you aren’t comfortable with your home address being made public, we offer a Registered Agent Service which lets you register your business at our Central London location.

5. Registering a New Company as an Employer

You must do this even if the only person you’ll be paying is yourself in your capacity as the company director.

6. Set Up a Business Bank Account

Some banks will want to see the documents you provided to Companies House and even a business plan before they’ll give you an account. Don’t forget to check what fees they charge for standard business services like setting up a standing order or clearing a cheque.

Did you know? If you don’t have time to shop around, we can save you the hassle and help you set up a business bank account. We have a special relationship with Barclays which means you’ll get a range of great benefits with a Barclays Bank Business Account for Start-ups:

• Free business banking for 12 months (terms and conditions apply)
• Loyalty rewards – the longer you bank, the more money you get back
• Support and guidance from the Barclays Business Banking telephone team
• Manage your account online, by phone, via the Barclays Mobile Banking app or in branch

Find out more and sign up today

7. Register for Corporation Tax

To avoid incurring a fine, you should do this within the first three months of registering a new company. HMRC will send you the information you need after you register with Companies House. This will include your tax reference number and the deadline for filing your annual return.

8. Register for VAT

If your annual turnover will be more than £85,000, you should register for VAT. This is something an accountant can help you with.

Register your own business from £9.99

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