Are you ready to take your innovative business ideas to the next level?
We will guide you through every step of the process to bring your new enterprise to market and help you with all the information needed to register with Companies House.
Step 1) Structuring Your Company
Your first steps will include choosing a business structure that works for you and then defining how you will operate your company.
The majority of entrepreneurs will register a ‘private company limited by shares’ which is a popular way of structuring your company and an effective way of managing your tax.
As a company director, for example, you can pay less income tax by taking a proportion of your income from the company dividends.
Using this approach, you can also limit your own liability should anything go awry, thus protecting your personal assets if your company were to encounter financial issues.
Step 2)Registering Your Company Name
You will need to check if your desired company name is available on Companies House before you are able to register your company in the UK.
When choosing a company name, it is advisable to conduct market research of your competitors in the relevant sectors where you will be operating. This provides an opportunity to be creative and take inspiration from existing players in the marketplace.
You will want to pick a meaningful name that teaches people about your business and explains what you do. Choosing a succinct, unique name will help customers remember your brand.
Step 3) Entering Your Company Information
When registering a new company, you’ll need to provide key information such as the names and addresses of at least one Company Director as well as the Shareholders. You can add these details to an IN01 form to be added to the public record.
You’ll also need a Registered Office for correspondences with HMRC and Companies House. You canregister your main office or home address, or if you would prefer not to disclose this information publicly, we can provide a Registered Agent Service, using a location in Oxford City Centre for example.
Step 4) Allocating Shares
You will need to allocate yourself and other stakeholders with a percentage of shares in your company, which can be as little as £1. Those with a significant portion of shares will have voting powers to influence key business decisions and shape the overall strategic decisions.
Step 5) Memorandum of Association and Articles of Association
Before registering your business, you will need to provide your Memorandum and Articles of Association to Companies House, allowing you to create a formal document that outlines how your company will be run, which the company director(s), shareholder(s), and company secretary all sign in agreement.
Step 6) You are ready to create your new company
Finally, with your IN01 form, Memorandum and Articles of Association you can simply upload your documents to Companies House. Once you registration is complete, you will be issued with a certificate of incorporation and your new company is brought into existence!