If you are looking to start a company in the UK, in order to benefit from the protections of incorporation, you will be required to register your company and comply with certain rules. This post looks at a number of things you need to know to register your company in the UK.
Where do I register my company?
You will register your Company with Companies House in the UK. Companies House carries out a number of functions pertaining to companies and holds information about all companies registered in the UK. You can also access certain information about other companies from the Companies House database.
What kind of company do you want to register?
There is no doubt that the most common type of company in the UK is a private company limited by shares. You may also set up a public company that trades freely on the stock market. You should discuss with one of our specialist advisers which company model is right for you.
What do I need to register my company?
In order to register a private company limited by shares, you will require:
– A company name
– A UK registered address for your company
– The names and addresses of your directors
– Details of your share capital
– Details of your shareholders
– Details of anyone holding significant control over your company, for example, a significant shareholder or one with greater voting rights attached to their shares
– A memorandum of association
– Articles of association.
What other things should I think about?
When you register your company you may wish to think about your company’s articles of association. These dictate how the company is to be run, and the company’s purpose. If you do not create your own or modified articles of association, your company will be run using what are known as the ‘model articles’. Many companies use the model articles, however, it is important to consider that the model articles will not take into account any special nuances in your business, and may not be right for your purposes. Amending the model articles can be easily done, however, it is important that you consult with a specialist legal adviser. Contact Goodwille today to discuss how we can provide practical solutions to meet your business needs.