Are you planning to start a new business UK?
If you are planning for a new company in the UK, you will need to register your company with Companies House, the official registrar of companies in the UK. You can do this online, by post, or through an agent (RTRSupports Limited) or third-party software.
You will also need to register for Corporation Tax within 3 months of starting to do business.
You will need to choose a company name, a company type, and a company formation package that suits your needs. There are different costs and benefits associated with each option, so you should do some research before deciding. You can also use some address services to protect your privacy and enhance your professional image. You can compare some of the company formation packages offered by different providers online.
Please watch the video given below to get more details:
How long does it take to form a company in the UK?
The time it takes to form a company in the UK depends on the method you use and the service you choose. The fastest way to form a company is to use an online company formation agent, which can process your application within 3 to 6 working hours.
You can also form a company online directly with Companies House, which usually takes 24 hours.
Alternatively, you can form a company by post, either with an agent or with Companies House, which can take 8 to 10 days.
However, these times are not guaranteed and may vary depending on the workload of Companies House and the accuracy of your application. If you make any mistakes or omissions, your application may be rejected and you will have to resubmit it, which can cause delays.
Also read: What is the best way to form a UK Limited Company?
What are the requirements for forming a company in the UK?
The requirements for forming a company in the UK vary depending on the type of company you want to form, but some general requirements are:
1. You must have at least one director who is at least 16 years old and not disqualified from being a director.
2. You must have at least one shareholder who owns shares in the company or guarantees to pay a set amount if the company goes into debt. The director and the shareholder can be the same person or a corporate entity.
3. You must have a unique company name that is not the same as or too similar to another registered company name and does not contain any sensitive or offensive words.
4. You must have a registered office address in the UK where you can receive official mail from Companies House and HMRC. This cannot be a PO Box address.
5. You must have a standard industrial classification (SIC) code that describes the main activity of your company.
6. You must have articles of association that set out the rules for running your company and the rights and responsibilities of the directors and shareholders. You can use the model articles provided by Companies House or create your own.
7. You must register your company with Companies House and pay the incorporation fee.