Companies House is an executive agency of the Department for Business and Trade. It is responsible for incorporating and dissolving limited companies in England and Wales, holding and publishing company information and making this available to the general public.
Companies House plays a vital role in the UK by helping to protect the public by ensuring that registered companies comply with the law and that their information is transparent and publicly available.
Here are some of the key things that Companies House does:
The most popular company type businesses use in the UK is the private company limited by shares (LTD). It is a legal structure that offers limited liability to its shareholders, meaning that they are only liable for the amount of money they have invested in the company. This makes it a popular choice for businesses of all sizes, as it protects the personal assets of the shareholders in the event that the company goes bankrupt.
Limited companies are formed by registering with Companies House. When a company is registered, it is given a unique company number and must file certain information with Companies House annually.
A limited company is a separate legal entity from its owners, meaning that it has its own rights and liabilities. This is known as limited liability, and it is one of the main advantages of operating as a limited company.
Limited companies are owned by shareholders, who invest in the company by buying shares. Shareholders have the right to vote on certain decisions, such as who should be appointed as directors and whether or not to distribute profits.
Limited companies are managed by directors, who are responsible for the day-to-day running of the business. Directors have a fiduciary duty to act in the best interests of the company and its shareholders.
A Company Limited by Guarantee (LBG) is a legal entity commonly used by non-profit organisations, such as charities, clubs, and sports associations. LBGs are similar to limited companies, but they do not have shareholders. Instead, they are owned by guarantors, who agree to pay a certain amount of money if the company goes bankrupt.
The main advantage of an LBG is that it offers limited liability to its guarantors. This means that their personal assets are protected if the company goes bankrupt. This is important for non-profit organisations, which often rely on volunteers and donations.
A Limited Liability Partnership (LLP) is a type of business structure that combines the flexibility of a partnership with the limited liability protection of a company. LLPs are popular with professional businesses, such as accountants, lawyers, and architects, as they allow members to manage the business as partners without being personally liable for its debts.
LLPs must have at least two members. Each member of an LLP is known as a designated member, and they are responsible for the day-to-day running of the business and ensuring that the LLP complies with the law. LLPs are taxed as partnerships, meaning that the members pay income tax on their share of the profits.
Your Company Formation Ltd allows you to form a variety of company types, including limited companies (LTDs), limited liability partnerships (LLPs), public limited companies (PLCs), and companies limited by guarantee.
If you are considering starting a business in the UK, Your Company Formation Ltd can help you choose the right company type and complete the company formation process on your behalf.
We also offer various extra value services, such as business bank accounts, accounting services, registered office addresses, tax advice and more.
All registered limited companies must end with the suffix "Limited" or "LTD" after the business name, but both imply the same thing. The choice of which one to use is up to the individual.
You do not need to live in the UK to register a new UK business. Anyone can register a new UK business, regardless of their nationality or residency status. However, you will need to have a UK-registered office address. This can be a physical address in the UK, or it can be a virtual office address.
If you are unsure how to register a new UK business, you should contact us. As a registered company formation agent, we can help you with the process and ensure your company is registered correctly.
Navigating the complexities of company registration as a non-resident can be daunting. Your Company Formations simplifies the process by handling all the paperwork and official documents on your behalf, making it a quick and straightforward process to establish your UK company.
Our hassle-free service not only saves you time and effort but also ensures accuracy and compliance with UK regulations. Plus, our affordable rates make it an accessible choice for entrepreneurs of all backgrounds.
Non-residents have the right to open a UK business bank account. However, the process might take longer than for UK residents due to anti-money laundering regulations.
Opening a traditional, brick-and-mortar business bank account as a non-resident can be tricky unless you are based in the UK. That is where Your Company Formations can help.
We will guide you through the entire process, from assessing your eligibility to preparing paperwork and submitting your application for fast-track approval. Once the application is approved, you must visit the UK with your ID and other documents to verify your identity and finalise the process.
If visiting the UK to open a traditional business bank account isn't feasible, a virtual bank account is a fantastic alternative. It's the perfect solution for anyone who wants the convenience of a UK bank account without the hassle of travel.
With a virtual bank account, you will enjoy many of the same features as a high-street bank, including:
Opening a virtual bank account typically takes around three to four weeks. Your Company Formations will handle all the paperwork and procedures, making the process as smooth and stress-free as possible.
A company director is an individual appointed to manage and oversee the operations of a limited company. They hold a position of significant responsibility and authority, tasked with making crucial decisions that impact the company's success. Directors are accountable to the company's shareholders and must act in their best interests.
In the UK, most individuals can become company directors. However, there are specific eligibility requirements and restrictions to be aware of. To be eligible, an individual must be at least 16 years old, not be disqualified from acting as a director, and have no residency requirements.
For publicly traded companies, additional requirements may apply. Employees of the company's auditor and undischarged bankrupts cannot be appointed as directors without special permission. Directors play a crucial role in shaping the company's success and must act with integrity and diligence.
The minimum number of directors required to start an organisation in the UK depends on the type of organisation you are forming. The Companies Act 2006 obliges at least one executive for restricted organisations. There is no restriction on the number of directors allowed.
Private Limited Company: A private limited company (Ltd) requires at least one director. The director must be at least 16 years old and not be disqualified from acting as a director. There is no maximum number of directors for a private limited company.
Public Limited Company (PLC): A public limited company (PLC) requires at least two directors. The directors must be at least 16 years old and must not be disqualified from acting as a director. There is no maximum number of directors for a public limited company.
Limited Liability Partnership (LLP): An LLP requires at least two designated members. The designated members must be individuals or legal entities. There is no maximum number of designated members for an LLP.
Charitable Incorporated Organization (CIO): A CIO requires at least one trustee. The trustee can be an individual or a legal entity. There is no maximum number of trustees for a CIO.
Industrial and Provident Society (IPS): An IPS requires at least one member. The member can be an individual or a legal entity. There is no maximum number of members for an IPS.
You are required to appoint at least one director for your registered company in the UK. This is a legal requirement under the Companies Act 2006. The director must be a natural person (i.e., not a company or other legal entity) and at least 16 years old. They must also not be disqualified from acting as a director.
If you fail to appoint a director for your company, you could be fined or even imprisoned. You could also be held personally liable for any debts or losses incurred by the company.
We can assist you when adding or removing a director from your limited company.
Whether or not you need to publish your home address as a director in the UK depends on the type of company you are a director of. For private limited companies, you can provide a Directors service address instead. For public limited companies, you are required to publish your home address. For LLPs, CIOs, and IPSs, you can provide a service address or an alternative contact address. To protect your privacy, you should use a service address.
The number of directors and shareholders required for a company depends on its type. Private limited companies can have one director and one shareholder, but two are recommended for balance and expertise.
Public limited companies must have at least two directors and two shareholders due to their larger size and complexity. LLPs, CIOs, and IPSs can have one member, but two are recommended.
Generally, having more than one director and shareholder is beneficial for improved decision-making, increased accountability, reduced fraud risk, and enhanced investor confidence. The organisation's founders and shareholders should carefully consider their needs and circumstances when making this decision.
You do not need to reside in the UK to be a director of a UK company. There is no residency requirement for company directors in the UK. Individuals from any country can be appointed as directors of UK companies. This means you can be a director of a UK company even if you live abroad.
A corporate body or organisation can be a director of another organisation in the UK. However, there is an important caveat to this rule: a corporate body cannot be the sole director of a company. There must be at least one other director who is a "characteristic" individual, which essentially means a natural person.
This requirement is in place to ensure that companies have a responsible and accountable leadership structure. Corporate bodies, while capable of making informed decisions, lack the personal accountability of being a natural person.
By requiring at least one human director, the law ensures that companies have individuals who can be held directly responsible for their actions and decisions.
Company directors in the UK have a significant responsibility to uphold the highest standards of governance, ethical conduct, and financial integrity. Their core obligations include:
Fulfilling these obligations is crucial for directors to avoid personal liability and ensure the company's prosperity.
A Unique Taxpayer Reference (UTR) number is a 10-digit code uniquely assigned to each individual or business in the United Kingdom by His Majesty's Revenue and Customs (HMRC). It is used to identify taxpayers for tax purposes. It is required for various activities, such as filing self-assessment tax returns, claiming tax refunds, and registering for Construction Industry Scheme (CIS) tax refunds.
Individuals typically receive their UTR number automatically when they register for self-assessment. Businesses, on the other hand, receive their UTR number when they register their company with Companies House.
If you have lost or misplaced your UTR number, you can retrieve it through your Personal Tax Account, the HMRC app, or by contacting HMRC directly.
All limited companies in the UK must file a Company Tax Return (CT600) to report taxable profits and pay Corporation Tax. The deadline for filing is typically 12 months after the accounting period ends.
Acceptable Filing Methods:
While both options are acceptable, the online method is generally preferred due to its convenience, security, and faster processing times. Online filing allows you to access and complete the CT600 form electronically, submit it securely, and receive real-time updates on the status of your submission.
Required Information:
The deadline for filing your Company Tax Return is typically 12 months after the end of your accounting period. Failure to meet this deadline can result in penalties that increase with the length of the delay. Additionally, late payment of Corporation Tax can incur daily interest charges on the outstanding amount.
We advise you to consult an accountant or tax advisor for complex tax matters.
A confirmation statement is a document that limited companies and LLPs (Limited Liability Partnerships) in the UK must file with Companies House each year. It serves as a formal declaration that the information held by Companies House about the company is accurate and up-to-date. This includes the company's registered office address, directors, shareholders, and business activities.
The exact deadline for filing depends on the company's or LLP's financial year-end, which is the date on which its accounting period ends.
The filing deadline for a confirmation statement is 14 days after the end of the company's or LLP's review period. The review period is a 12-month period that starts on the following dates:
For example, suppose a company's financial year-end is December 31st. The company's review period would start on January 1st following the financial year-end and end on December 31st of the following year. The deadline for filing the confirmation statement would be 14 days after December 31st, which is January 14th of the year after the financial year-end.
Companies and LLPs are allowed to file their confirmation statements early. There is no penalty for filing early, and it can be helpful to do so to avoid potential late filing penalties.
Failure to file a confirmation statement on time can result in penalties from Companies House. The initial penalty is £150, increasing to £750 if the statement remains unfiled after 14 days. Further late filing can lead to additional penalties and even prosecution.
Your Company Formations can help you file a confirmation statement for your limited company or LLP in the UK. We offer a comprehensive service that takes the hassle out of the process and ensures that your statement is filed accurately and on time.
Value-added tax (VAT) is a consumption tax on most goods and services sold in the United Kingdom. It is a tax on the value added at each stage of the supply chain, from production to final sale to the consumer. Businesses registered for VAT must charge VAT on the goods and services they supply and pay the VAT they have charged to HM Revenue and Customs (HMRC). They can also claim back any VAT they have paid on their business expenses.
There are three main VAT rates in the UK:
Limited companies must register for VAT if their taxable turnover exceeds £85,000. They can also choose to register if their turnover is less than £85,000.
VAT-registered businesses must submit VAT returns to HMRC regularly. The frequency of VAT returns depends on the business's turnover. There are penalties for failing to register for VAT or not submitting VAT returns on time.
Businesses can claim back any VAT they have paid on their business expenses. This can help to reduce their VAT liability.
At Your Company Formations, we have helped countless businesses navigate this maze successfully, ensuring they obtain their VAT numbers without delays or errors.
Our team of experienced professionals understands the intricacies of VAT registration and can guide you through the process seamlessly. We will help you gather the necessary information, complete the forms accurately, and ensure timely submission to HMRC.
It takes around a day to set up a limited company in the UK. This includes the time it takes to complete the online application form and for Companies House to process it. If you are applying by post, it can take up to 8-10 working days.
However, it is important to note that this is just the time it takes to register your company with Companies House. It may take you some additional time to gather all of the required information and complete the necessary paperwork.
This is why it makes sense to work with a professional company formation agent such as us. We can help you to complete the application form and ensure that your company is registered quickly and correctly.
To set up a limited company, you will need to provide the following information and documents:
You will also need to complete the following documents:
By working with Your Company Formations, we can make sure that all of the information you provide is accurate and up-to-date. If you need clarification on something, we can help.
You must appoint at least one director for your registered company in the UK. Directors are responsible for running the company and making decisions on its behalf. They have several legal duties, including ensuring that the company complies with the law and is run responsibly.
Directors can be individuals or other companies. If you appoint an individual director, they must be at least 16 years old and have a UK residential address. You can appoint new directors at any time, but you must notify Companies House within 14 days of making an appointment. You can do this online or by post.
Companies House requires all directors and company secretaries of newly registered companies to verify their identity. This is to help prevent fraud and to ensure that the company register is accurate and up-to-date.
There are two ways to verify your identity:
If you are a non-UK resident, you must provide additional documentation, such as a copy of your passport and a certified translation of your passport into English.
You need to publish your home address as a director in the UK. Companies House requires all directors of limited companies to provide their home addresses as part of the company registration process. This information is then made publicly available on the Companies House register.
However, there are some exceptions to this rule. For example, you can apply to keep your home address private if you are at serious risk of violence or intimidation because of your company's activities. You can also apply to keep your home address confidential if you are a director of a company that is involved in sensitive activities, such as law enforcement or intelligence.
Many company directors are unaware that their home addresses will be made public when registering their business. If you prefer to keep your home address off the public record, we offer a comprehensive Director's Business Address service to protect your privacy and make your business life easier.
You need at least one director and one shareholder to form a limited company in the UK. However, you can also have more than one director or shareholder.
You need a registered office address to form a limited company in the UK. Your registered office address is the official address of your company and must be a physical address in the UK. Companies House will use your registered office address to send you essential legal documents, such as your certificate of incorporation and annual return.
You can use your home address as your registered office address, but many directors choose a business address or our registered office address service. This can protect your privacy and make your business look more professional.
Non-UK residents can use Your Company Formation Ltd's company formation services to form a limited company in the UK. To form a limited company in the UK as a non-resident, you will need to provide the following information:
Once you have provided all the required information and paid the company formation fee, we will start forming your company. We will submit all of the necessary paperwork to Companies House and will notify you once your company has been incorporated.
You can form a UK company from anywhere in the world with our International Pack, which includes a prestigious London business address. We work with international clients from 171 countries, so unless you are on the UK's High-Risk Jurisdiction list, we are here to help you get started.
If you have any questions about the process of forming a limited company in the UK as a non-resident, you should contact us for advice.
The Companies House fee is included with all of Your Company Formation Ltd's company formation services, including the International Pack. This is because we cover the cost of the Companies House incorporation fee on your behalf.
This is a good thing, as it means that you don't have to worry about paying any additional fees to Companies House. It also means you can be confident that your company will be formed quickly and correctly.
If your company registration application is rejected, you will receive a letter from Companies House explaining the reasons for the rejection. The most common reasons for company application rejection include:
If your company application is rejected, you can either amend the application and resubmit it, or you can start the process again from scratch. However, it can save you a lot of time and effort to have your application accepted the first time by working with Your Company Formations.
A Certificate of Incorporation is a legal document issued by Companies House to confirm that a company has been successfully incorporated. It is a public document, meaning anyone can access it by searching the Companies House register.
The Certificate of Incorporation will typically include the following information:
The Certificate of Incorporation is an important document for any UK-registered company, as it provides proof of its existence and legal status. It is also required for many business activities, such as opening a bank account and entering into contracts.
Companies House will automatically issue a Certificate of Incorporation to all new companies once successfully incorporated. Companies can also request a replacement Certificate of Incorporation at any time.
Company shares are units of ownership in a limited company. Each share represents a portion of the company's ownership and assets, and shareholders have certain rights and obligations associated with their ownership.
Selling shares allow companies to raise capital from investors, which can be used to fund growth and expansion. They also provide investors with the opportunity to participate in the ownership and success of companies.
There are two main types of company shares in the UK:
The minimum number of shares that a company is permitted to have in the UK is one. This is the case for both private limited companies and public limited companies.
This means a company can be formed with just one shareholder, who will own all of the company's shares. This is often the case for small businesses or startups just starting out.
There is no maximum number of shares that a company can have. A company can issue as many shares as it needs to raise capital or to reflect the ownership structure of the company.
The number of shares a company has is typically stated in the company's articles of association. This document also sets out the rights and obligations of shareholders.
A shareholder is not the same as a director. Shareholders are the owners of a company, while directors are responsible for managing the company.
Shareholders:
Directors:
A person can be both a shareholder and a director of a company. However, this is not always the case. Many companies have shareholders who are not directors, and some companies have directors who are not shareholders.
The relationship between shareholders and directors is governed by the company's articles of association and the Companies Act 2006. These documents set out the rights and obligations of shareholders and directors, and they also define the relationship between the two groups.
Anyone can be a company shareholder in the UK, regardless of their nationality or residency status. This means that people from all over the world can own shares in UK companies.
However, there are some restrictions on who can hold certain types of shares. For example, certain types of preference shares may only be held by UK residents. It is essential to check the company's articles of association to see if there are any restrictions on who can own the shares you are interested in.
In general, there are no restrictions on who can own ordinary shares in UK companies. This means anyone, regardless of age, nationality, or residency status, can buy and sell ordinary shares in UK companies.
A shareholder is an individual or entity that owns at least one share of stock in a company. Shareholders have certain rights and responsibilities, including:
In addition to these rights, shareholders have many responsibilities, including:
This includes voting against directors who are not performing well or who are not acting in the best interests of the company.
A company's authorised share capital determines the maximum number of shares it can issue. Companies can issue shares up to this limit but are not required to issue all of them. They can issue more shares later by increasing their authorised share capital through a special shareholder resolution.
Factors influencing the number of shares a company issues include funding needs, ownership structure, and future plans. More shares can boost market capitalisation and attract investors but also increase the number of shareholders, making it more challenging to manage the shareholder base and make decisions.
A registered company address is the official address of a UK company, used for official correspondence and publicly available on the Companies House website. It must be a physical UK address where the company can receive correspondence. Companies House requires notification within 14 days of any address change, and failure to comply can result in penalties.
A registered company address ensures compliance, facilitates official communication, builds trust, and protects privacy. It is crucial to secure a registered address before company registration.
All UK companies are legally required to have a registered office address. This is the official address of the company that is publicly available and used for official correspondence, such as letters from Companies House, HMRC, and other government bodies. It is also the address that will be displayed on the company's website and other public documents, such as letterheads and legal documents.
The registered office address is publicly available, but it does not have to be the same as the company's business address. This helps protect the privacy of the company's directors and shareholders.
You should choose a registered office address provider with a good reputation, such as Your Company Formations. We will help to ensure that your company is compliant with all applicable laws and regulations.
Having a registered office address for your UK company offers several advantages, including:
A service address is the contact address for a company director, company secretary, LLP member, or Person with Significant Control (PSC). Official correspondence from government agencies such as Companies House and HMRC is delivered to this address.
The registered office address is the official address of the company. It is the address publicly available on the Companies House website and used for official correspondence, such as letters from Companies House, HMRC, and other government bodies. The registered office address must be a physical UK address that is not a PO box or virtual office address.
The business or trading address is the address where a company actually conducts its business. This address is typically used for customer inquiries, deliveries, and other business-related purposes. The business or trading address does not have to be the same as the registered office address or the service address.
Registered companies in the UK must adhere to various statutory requirements to maintain legal compliance, financial transparency, and proper governance. These requirements are outlined in the Companies Act 2006 and other applicable legislation. Key requirements include:
Failure to comply can result in financial penalties or even prosecution. Companies should seek professional advice to ensure compliance.
If you want to refresh your company's image with a new name or conclude its operations, we can help guide you through the intricacies of company name changes and dissolutions.
Company Name Changes: Limited company directors can change the name without shareholder approval or gather 75% of company members for a special resolution. We can handle the paperwork for you to ensure legal compliance.
Dissolving Your Limited Company: We will guide you through the entire dissolution process, ensuring a smooth transition to closure to save time and effort and avoid potential legal issues.
As a company director, you are not just leading a business; you are also responsible for its legal compliance. Timely Filing is Crucial. Failure to submit required documents on time can result in prosecution.
Annual Filing Requirements - stay on top of these essential filings:
Your Company formations offer a range of professional business services to help you navigate the legal maze of company registrations so you can focus on what you do best – running your business.
As your business evolves, so do its details. Whether it is welcoming a new director or introducing a fresh company name, keeping Companies House informed is crucial.
For example, if you appoint a new director, you have 14 days to notify Companies House. Every change you make, from director appointments to shareholder updates, must be communicated promptly.
Once a year, you must file a confirmation statement detailing any changes to your company structure. It's a simple yet essential task to maintain legal compliance. While most changes and filings are free of charge, there are fees for confirmation statements and company name changes.
In the United Kingdom, a dormant company is a limited company that is not trading or receiving any income, including investment income. This means that the company is not actively engaged in any business activities and is not generating any revenue.
To make your company dormant in the UK, you must:
Dormant companies are still required to file certain documents with Companies House and HMRC, even though they are not trading.
Simplified accounts are an abbreviated form of financial statements prepared by dormant companies in the UK. They are less detailed than full annual accounts and do not require the same level of disclosure. However, they still provide a basic overview of the company's financial position.
The deadline for filing simplified annual accounts for a dormant company is the same as for trading companies, which is typically nine months after the end of the accounting period. However, dormant companies can apply for an extension of up to 3 months.
Dormant companies in the UK must file a confirmation statement with Companies House. This is a legal requirement that ensures that the information about the company on the public register, Companies House, is up-to-date and accurate.
We can provide free qualified guidance to help get youstarted with your business needs.
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Companies House legally require all directors of UK companies and partners of LLPs to register a directors business address for the public record.
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With Christmas fast approaching we would like to inform you of our opening times for our London office over the festive period. We would also like to remind you that we do have other hard working teams working on emails throughout this period.
Friday 22nd December – 9am – 3.30pm
Mond 25th December – CLOSED
Tues 26th December – CLOSED
Wedn 27th December– 9am – 5.00pm
Thur 28th December– 9am – 5.00pm
Frid 29th December – 9am – 5.00pm
Mond 1st January 2024 – CLOSED
Tues 2nd January 2024 – Normal hours resume.
(Opening times apply to our London office opening hours and customer service phone lines, emails will be answered outside of these hours)
Should you have any questions regarding our opening times, please do not hesitate to contact our amazing support team on [email protected]
