Can You Register A Company To A Residential Address In The Uk
12 Min. Read
How Do I Register a Limited Company in the UK?
October 28, 2020
Registering a limited visitor in the UK requires attention to detail. There are strict legal requirements that involve accurate submissions to the right government departments. Earlier you prepare up a limited visitor, yous should discuss all the business organisation structure options with your auditor and legal adviser. Information technology may exist that another format will exist better for your business.
Hither's What We'll Cover:
Can You Run a Business Without Registering It in the Great britain?
Different Types of Limited Companies
How Do I Ready a Company in the UK?
Tin can Someone From Exterior the U.k. Gear up a Concern Hither?
What'due south a SIC Code?
Companies Business firm Online Registration
Practice I Have to Register With Companies House Online?
What Are Formation Agents?
Can Y'all Run a Business Without Registering Information technology in the UK?
You lot don't accept to register your business as a express visitor in the United kingdom. If you work as a self-employed sole trader, and so you don't have to register with Companies House. This is a different type of business construction that has its ain fix of rules.
For example, y'all exercise have to register for self-assessment with Her Majesty's Revenue and Customs (HMRC). This is how you declare your sole trader income, pay the correct corporeality of tax on your profits and pay your National Insurance contributions. As well, when your taxable turnover reaches £85,000, you need to register for value added taxation (VAT).
So even if you determine that the limited visitor formation isn't the best thing for y'all, in that location are other official regulations to follow.
At to the lowest degree you can remainder like shooting fish in a barrel knowing that FreshBooks has all the tools and information you need to monitor your business as it thrives—no affair what company formation you make up one's mind on.
Different Types of Limited Companies
At that place are 2 different types of limited company formation. You need to decide which company germination is the all-time fit for you. The primary defining feature is that one is for-turn a profit and the other is non-for-profit.
Limited By Shares
Express by shares companies are a split legal entity with a fiscal set-up that's separate from its directors'. It has shares that are owned by its shareholders and, later on tax, keeps its profits.
Limited By Guarantee
A limited company that is limited by guarantee has a guaranteed amount, and guarantors—instead of shareholders—with shares. It's non-for-profit and reinvests any money fabricated back into the company. It besides has its ain legal status distinct from its owners, including its financial situation.
How Exercise I Set up a Company in the UK?
There are several steps that you need to take when setting upward a limited company in the UK. They are not especially hard in themselves, but you do need to pay attending to every regulation. There is no guarantee that your submission to become a express company volition be accepted. Just making certain that y'all've stuck to all the post-obit rules during the procedure makes success more likely.
Naming Your Company
There are several things to consider when you lot cull your visitor name. You lot tin't have the aforementioned proper name as an existing trademarked company. Y'all tin bank check the government's Intellectual Property Office list to exist sure.
Your company name is not immune to contain any profanity, rude or otherwise offensive language. A proper noun that'south very like to another registered company name will be rejected: For instance, if y'all but brand something plural, or add an apostrophe. Companies Firm has a handy, gratuitous name-checker tool to help you.
Bear in mind that you don't take to use the same name to trade under. You can accept your registered company name, and have different trading names that align with different services or products. This is known every bit a business organisation name and they tin't have your 'Ltd' suffix.
Registered Business concern Address
A limited company must have a registered business organization address. It'due south extremely important that this is correct, for obvious reasons, and because all your official documents and communications volition be sent hither from Companies House and HMRC.
This tin can exist your dwelling house address, if that's where yous're working from. But your visitor's registered function address is publicly available on the Companies House list. And then you lot may not want to employ this accost for security or privacy reasons. If you lot have an office, y'all tin can annals this address as your business concern address.
Another culling is to buy a PO box. Your postal service is sent to this virtual address and is forwarded to you for a fee. This gets circular whatever concerns about using your home accost and looks professional. Wait for a virtual function provider to find your preferred PO box selection. Y'all need to organise all this earlier you endeavour to register your company.
Your business address must be an bodily physical accost in the U.k., with a postcode. And it must be in the aforementioned UK country equally your business. In other words, if your concern is operating in Wales, and so your registered business accost must be in Wales likewise.
Memorandum of Association and Articles of Clan
These two documents are a legal requirement of your registration as a limited company.
Memorandum of Association
This document must exist signed by all the shareholders (or guarantors) and confirms their agreement to form your express visitor, under the Companies Act 2006.
It'due south also their legal delivery to take at least one share in the company.
If you annals your visitor online, this is an embedded part of the process, then y'all don't demand to worry most finding separate documentation. But if you register by post, yous'll demand to submit a memorandum of association. The authorities provides a pro forma to assistance with this function of the process.
Later on submission, your memorandum of association tin can't be inverse.
Articles of Association
A visitor's articles of association are the "written rules nearly running the company." They must be read, agreed and signed by its directors, shareholders (or guarantors) and company secretary. There are 'model' articles of association available to use that are produced by the government. These are satisfactory for the majority of companies' needs.
If you think your company is in a more complicated state of affairs and needs a more than individualised certificate, you should consult a legal professional.
People in Your Limited Company
There are several people involved in running a limited visitor and you need to go along accurate records on all of them.
Directors
Every limited company must have at least one company director. Legally, they are the ones responsible for running the visitor, and filing accounts and reports at the correct times. To be a visitor director, y'all must accept a registered role address in the UK, be over 16 and non be disqualified from beingness a director in the past.
As a director, your name and contact details are publicly bachelor from Companies House. This is an extremely serious office. If you don't fulfill all your legal responsibilities, you lot tin can be disqualified from being a visitor director, go severe financial penalties or even face prosecution.
Company Secretarial assistant
A private limited visitor doesn't take to engage a company secretary. You aren't immune to be a company secretarial assistant if you have 'undischarged broke' status or you're the visitor's auditor. You can be both company secretarial assistant and a director. Oftentimes, visitor secretaries share the workload of a company director.
Shareholders
About express companies are 'limited past shares,' meaning that they are owned past their shareholders. These shareholders have sure rights and responsibilities. There must be at least one shareholder. When you register your company, you must include a 'argument of uppercase.' This includes:
- All the names and details of your shareholders.
- Number and type of shares
- Full value of the shares: 'Share capital'
- 'Prescribed particulars': The rights assigned to the shares for the shareholders (e.grand., voting rights, how many votes they're entitled to, share of dividends, if shares can be redeemed for coin)
People with Significant Control
People with significant control (PSC) must be on your company'southward PSC annals and reported to Companies House. Someone is usually considered a person with pregnant command if they meet at least i of the following criteria:
- Ain more than than 25% of the visitor's shares
- Have more than 25% of the company's voting rights
- Tin can remove and/or engage the bulk of the company's board of directors
It is a criminal offence to not record accurate details about people with significant control in your company.
Can Someone From Outside the Uk Set upwards a Business Here?
There are no restrictions on the nationality or residency condition of a company director, company secretarial assistant or shareholder in a United kingdom company. The legal requirement is that the company itself has a registered accost in either Scotland, Wales, Northern Ireland or England.
This isn't tied to the residential address of the business owner. It can exist a registered office accost for the company, the business concern premises, or a PO box accost.
You need to check the work visa state of affairs between the Britain and your home land to run into how that might touch your ability to set up a new company. Keep in mind that you cannot earn un-taxed income in the UK. Brand sure yous've got all these details before you commence on your UK business concern journeying.
What's a SIC Code?
SIC stands for 'standard industrial classification of economic activities.' Everyone's grateful for its acronym! A SIC code identifies the type of business your company does.
The full list is created by the Office of National Statistics, and Companies House has a condensed version for y'all to employ during the registration process. Each industry sector is divided into different 'descriptions' and each description has a code. You demand to include the correct lawmaking for your visitor.
There is a search tool at the top to save y'all wading through the whole listing. So you can type in your product or service and get your official description and SIC code. For case, 'ice cream' gets the effect 'Industry of ice foam' and SIC code 10520.
Companies House Online Registration
This online service is where y'all legally register a company with Companies House. This costs £12 and is commonly confirmed within 24 hours. You can pay past PayPal, debit or credit card. Your show of registration is chosen a 'certificate of incorporation' and gives the birth of your business organisation' limited company status. It also includes the company'southward unique registration number.
Before you lot start the procedure, yous demand to gather up some information. To register your visitor, you'll need at to the lowest degree three pieces of bear witness from the list beneath almost yous and your guarantors, or shareholders.
Personal information you will need:
- National Insurance number
- Passport number
- Boondocks where you lot were born
- Phone number
- Father's first name
- Female parent'south maiden name
As your limited company is now its own legal entity, you will have to create its own dissever Regime Gateway identification and password. You lot won't exist able to use your existing personal Authorities Gateway business relationship details.
You will also exist registered for corporation tax with HMRC at the same fourth dimension every bit your registration with Companies Firm. While you're there, you lot can likewise annals for pay as you earn (PAYE ) if your registered company has employees.
Recall that yous're counted as an employee, too equally a company director—and you may be the only person in the business.
Setting up a limited visitor is quite daunting and time-consuming. Dissimilar other authorities forms, this registration with Companies Business firm does not take to be completed all in 1 sitting. Information technology saves as yous become, and you tin render to information technology after.
Do I Accept to Register With Companies House Online?
You don't accept to apply the online registration service. In fact, if you don't want to add the usual suffix 'Ltd' or have 'limited' in your company proper noun, then yous have to apply the mail pick to register.
To register your visitor by post, you need to download, impress and consummate Form IN01. This way of registering your visitor is more expensive. You need to ship a check for £40.00, made out to Companies House, with your completed course.
It'll take between 8-10 days for your express company to be registered. The accost you demand is printed on the form.
This does not include registering your visitor for corporation revenue enhancement with HMRC: You'll need to do this within three months of trading in your business.
What Are Formation Agents?
There are independent companies that specialise in visitor formation packages. They register a visitor on behalf of their client, and have canonical software to send your awarding electronically.
Companies House has a listing of agents that run across these standards merely "neither warrants nor accepts any liability for the content on these websites, or for any services that they may provide." If you want to become a limited company, formation packages might exist worth considering, just to save you the time and hassle of doing it yourself.
Choosing a company formation and registering a business are not everyday tasks. Take your time. Work through each section above and gather all the information you need before you take whatsoever final decisions. You might demand extra time for a specific detail, like if y'all want a PO box address equally your registered office address.
Even deciding on a name might take a while—then yous've got to bank check information technology's not already taken! Information technology's better to get everything straight before you lot start the registration process. If your application is rejected, it doesn't hateful y'all're forever excluded from becoming a limited visitor. Merely it will cost yous actress money and fourth dimension. FreshBooks wishes y'all good luck and remember—we're always here when y'all need usa.
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Source: https://www.freshbooks.com/hub/uk/register-limited-company-uk
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