New company formations

How long does it take to register a limited company?

Registering a limited company is usually quick and hassle-free. Once you have submitted your application and have provided the relevant documents, it usually takes around 3-6 working hours for Companies House to form it. If you start the application outside working hours then your company will be formed on the next working day. Furthermore, if Companies House is busy, your application can take a little longer.

Once the company is formed, you will receive all the document documents via email.

What information do I need to form a company?

To form a limited company, you will need the following.

• Company name
• Registered office address
• Full name of all directors & shareholders
• Residential address
• Nationality
• Business occupation
• Phone number
• Proof of identity
• Proof of address

We require proof of identity and address for money laundering regulations and compliance.

Can I name my company anything?

No, there are certain standards and requirements in order to successfully register a company name at Companies House. Some of those requirements are:

• It must be unique and cannot be the same, or too similar as other names
• It must end with 'limited' or 'ltd'
• It cannot contain certain characters or symbols
• It cannot suggest a connection to official bodies or royality unless permission granted
• It cannot include offence words

What happens if my company application is rejected?

If your company is rejected, you will be provided with the reason for the rejection. At Clever Formations, we'll act quickly to discuss the reason and offer you guidance on how to resolve this.

The most common reaons is a company name contravention or incorrect information submitted.

Registered office and service addresses

Do I need a company address?

All companies registered at Companies House must provide a registered office address. This address is shown on the public company record and is used for receiving communications from government bodies, such as HMRC and Companies House.

The registered office address can be a different address from your home, or trading address and it is recommended not to use your home address.

The registered office address does need to be a UK address, in the same jurisdiction the company is registered in e.g. England & Wales, Scotland and cannot be a mailbox.

Will my registered office address be made public?

It is legally required that all companies provide a registered office address and that this address is made public at Companies House.

Does Clever Formations offer a registered office service?

We offer a registered office address service with all our packages with the exception of the digital package, free of charge for one year. If choosing the digital package, you can add on the registered office address optionally.

What are the benefits of using our registered office address

Using a different registered address from your home is recommeneded to ensure complete privacy of your home address. There are a number of reasons why this is beneficial

• To keep your residential address private
• You rent your property
• You may be moving soon
• You live abroad and con't have a UK address

Directors and shareholders

Do I need to appoint a director?

All UK limited companies must have at least one director over the aged of 16. The responsibility of a director is to run the company and file any documentation at Companies House, including the year end accounts and confirmation statement.

Can I run my company with one director and shareholder?

You will need a minimum of one person over the age of 16. That person can act as director and shareholder. This is a very typical structure for the majority of UK limited companies e.g. the director is also the owner of the company.

Can a company act as a director or shareholder

You will need a minimum of one person over the age of 16. That person can act as director and shareholder. This is a very typical structure for the majority of UK limited companies e.g. the director is also the owner of the company.

Can I run my company with one director and shareholder?

While you do need a minimum of one person to act as a director, there is no limit on the number you can have. Infact, you can also appoint a limited company entity as a director or shareholder in the company.

Are there minimum restictions on becoming a director?

• Be at least 16
• Be fully discharged from bankruptcy
• Not be a currently disqualified from becoming a director

Post company formations

What documents will I receive?

Once your company is formed, you will receive an email confirming the company is registered with the following documents:

• Certificate of Incorporation
• Memorandum and articles of association
• Share certificates

If selected, paper copies will be also be sent out.

Can I make changes to my company once formed?

Yes, you can make changes to your company at any time you wish. However, you have a legal obligation to report to Companies House any changes you make. Some of these changes, such as company name change, carries a fee to apply for the change.

You can usually make the following changes to your company

• Changing the name of your company
• Registered office address change
• Appointing, removing or making changes to a director or shareholder
• Issues new shares or change the share structure of the company
• Making changes to the accounting reference date

All of these changes do require you to submit the correct form, with the relevant payment to Companies House.

Can I increase the share capital or add new shareholders?

Once your company is formed, you are able to make changes to the ownership and the share capital the company has.

Any share changes will require prior approval for the director and the majority of shareholders within the company.

What comapany information is made public?

There is certain information that is made available to the public via Companies House. This includes:

• The company name and registration number
• Registered office address
• Articles of association
• Details of the directors
• Details of the share ownership and share capital
• Accounting reference date
• Any documents that are submitted to Companies House in the future

Do I need a bank account?

Whilst there is no legal requirement for a UK limited company to operate a bank account, it is highly recommended as it helps to ensure all finances are correctly recorded, it ensures the accounts are accurate and provides greater confidence to your customers and suppliers. It is certainly advisable if there are multiple directors or shareholders in the company.

Statutory requirements

What are the statutory requirements for a UK limited company?

Once your company is formed, it has certain legal duties to adhere to each year. This include:

• Confirmation statement filing - a snapshot of the company on a given date which confirms the company details, such as name, registered office address, and it's directors and shareholders
• Annual accounts - a set of financial accounts submitted each year representing the financial activity of the company.

If I make a change to the company, do I need to report it?

Yes, you must inform Companies House of any changes you make to your company in the following areas:

• changes to directors, company secretaries - for example new appointments, resignations and changes in details
• changes to your company name
• changes to your registered office address
• changes to your year end accounting date
• changes to shareholders and share capital
• changes to any mortgages held by the company

How do I report these changes?

Each change has it's own process to follow to update Companies House. In many chases you may need to pass a resolution within your company to be able to make the change and have minutes to a meeting held at the registered office.

Taxes

Will my company need to register for Corporation Tax?

You will need to register the company for Corporation Tax with HMRC no later than 3 months after you start trading. If you are not planning on starting to trade for some time, you can notify HMRC the company is dormant. Once you do start trading, you must update them again with your intention to trade.

Will my company need to pay Corporation Tax?

The company only needs to pay Corporation Tax if it has made sufficient profits in the accounting period that it is being assessed on. Profits are calculated on taxable revenue received, less any taxable expenses that are incurred. After any other allowances are adjusted, if a profit is made, you will pay Corporation Tax.