We can incorporate your company within 24 hours!
Get your company up and running by the same time tomorrow!
Simple steps to get your new company up and running
- Registering at Companies House and with HMRC - Hopefully you will instruct us to do this for you, it is very simple and our one-off fee for forming your new company and registering it for Corporation Tax, PAYE scheme and (if applicable) VAT.
- Choose a company name - you need to think of a name for your new company. We can check the availability for you, or it is easy to check it yourself by logging onto Companies House: www.companieshouse.gov.uk
- Decide who will be the directors (at least 1 is required) - you will usually be a director but you can also have other directors and these could include senior employees, your spouse or partner or other family members.
- Decide who will be shareholders (at least 1 is required) - the company is owned by its shareholders. Most small limited companies have only a small number of shares, maybe just one or quite often one hundred. Many clients choose to issue all of these shares to themselves but often shares are also issued to spouses, partners, business parterres and senior employees. You must remember that whilst the directors run the company, it is the shareholders that own the company, can appoint or dismiss the directors and ultimately share in any profits that the company makes in the form of dividends.
Shares can be issued to spouses or partners and this can be good for tax planning purposes.
It is very important that you pay your company for the shares that are issued, this will usually only be a few pound as all shares issued in our standard incorporations are designated as £1 shares. Many companies will have just one share so the payment that needs to be made will be just £1. Remember the payment is made to your company, not to us, so it is just an investment in your own business. Quite simply you just pay a personal cheque to your company’s bank account.
- Open a bank account – your company is a separate legal entity from you. So it will need its own bank account in the full limited company name. Even if you have a personal bank accounts or an existing sole trader bank account, you will not be able to transfer this to the new company, banks are not allowed to do this.
It can take a week or so for a new account to be opened. You will probably need to visit a branch of your chosen ba
nk so that they can carry out identification checks, this will usually just mean taking along your passport and a recent bank statement or utility bill showing your home address. The banks will need to identify all other directors and shareholders.
- Order business stationery – you do not need to have business stationary but it is nice to have some professionally printed. If you do decide to have some printed or alternatively print your own, then it is very important that any business cards show the full company name, including the word “Limited” or “Ltd”.
Contact us, request a call back or speak with us online if you have got any questions.