Setting up a private limited company in the UK is not as complicated as you might think. Here are four simple steps that will help you demystify the entire process a limited company formation process.
Step #1 Choose your Company Name and Check Availability:
Start with checking the availability of your company name. Most Company Formation sites will have a “Company Name Search” function, enter your preferred company name and check for availability. The following are terms from Companies House for choosing your Company Name.
- Original. Companies House will not allow you to pick a name or a name that resembles one that has already been registered. In other words, to set up your limited company, the name you choose for your business must be unique and at the same time, confiding the norms.
- Unobtrusive. The name you choose must not offend any party of the society. Anything that is offensive is outright barred. You can get the list of ‘sensitive words and phrases’ compiled by the Companies House and by all means make sure that you stay away from those.
- Availability. Verify if the name that you’ve chosen is already registered with the Companies House, you can use one of the free ‘availability checkers’ that are available online, like the one at https://mintformations.co.uk. If the name is taken, you don’t have a choice but to pick a different name.
Step #2 Choose the best Company Formation Agents:
With the name finalized, you will have to pick an agent to help you setup your limited company and here’s what you’ll have to consider
- Trustworthiness. Though you can send in your application to the Companies House directly, it is a lot simpler to approach an authorised agent. You can find hundreds, if not thousands of agents that help you setup your limited company and it’s absolutely essential that the agent you pick is authorised by the Companies House.
- Benefits. While selecting an agent to form your limited Company in UK, look for the additional features that are offered. These can range anything from round the clock support to logo and stationery design. A bit of planning and foresight will help you and your business in the long run.
- Track Record. Pay attention to the kind and the quality of support that an agent offers. When things go haywire, you cannot afford to wait forever. In short, you will have to balance the cost and the quality of service that is being offered.