How long has Company Services UK been forming companies?We have been forming companies professionally since 1997. In that time there have seen many changes to the requirements and procedures for forming a company. We always keep up to date with new requirements and make sure all new companies are fully compliant and fully complete.
Why should I use Company Service UK to form my company?Forming a company is an important step in the life of any business. It is important to get it right first time. It is important to have all the company documentation completed in full and in place first time.
We will not only incorporate your company but also complete and provide, in hard copy or electronic copy, the company statutory books which clearly show ownership details, company regulations and registration details, including the official company certificate.
We offer the most comprehensive service in the UK and we do not use our service as a means to try and sell other services. We will never use your details for marketing or any other purpose and we will not try to sell any additional services that you do not need.
We are professional company formation agents who will incorporate your company properly and legally with fully complete company statutory books.
We are officially registered agents with Companies House, HMRC and the ICO with over 25 years trading experience. Our service is used by many top accountancy firms. We can be trusted to provide a level of service that is second to none and a product which is the best in the UK.
What company name can I use?
The choice is yours! So long as your company name does not contain any words deemed to be sensitive, or is the same as or is very close to an existing company name on the Companies House register the choice of name is up to you. Our name checker can check to make sure that your choice of name is not in use. In addition we always perform a manual check on your company name to make sure that is not considered to be ‘too close’ to an existing company and that it does not contain any ‘sensitive words’. This is an important check because any company names containing sensitive words or that are considered to be ‘too close’ will be rejected by The Registrar. Unlink most agents our manual checks will make sure that this does not happen.
What is a SIC code?A SIC code is a Standard Industrial Classification. It is a five-digit code that represents the type of sector or industry your company belongs to.
The code is decided upon at incorporation and is a general description of the type of business you do.
When forming a company the code can be chosen on our order form. The official list of codes is a set list and it can sometimes be quite difficult to find an exact or appropriate match for your company. If this is the case you can enter a brief description of the company’s intended activity and we will select the closest general code for your business type.
SIC codes can be changed at any time by filing an early Confirmation Statement or by changing it when filing a Confirmation statement at the end of the year.
What about shareholders?There must be at least one shareholder as a company cannot exist without a share capital. Broadly speaking shareholders are the owners of the company in relation to the amount of shares held. If the company is to be wholly owned by yourself then you only need to hold one share in your name. Alternatively should you wish to allocate shares to other people any number of shares can be issued. For example a split of 100 shares between four or five people will easily indicate relative percentage shareholdings held by each individual.
As part of our service we also offer the option of incorporating your company with additional share classes with varying rights. This means that different voting, capital and dividend rights can be given to different people, thus giving the company more flexibility. This is optional and usually of interest to accountants. It is inclusive in our set price should this be of interest.
Do I need to appoint a company secretary?The appointment of a company secretary is now optional.
If appointed, the secretary is responsible for the administrative matters of the company. The secretary is answerable to the directors and is responsible for the upkeep of company registers and minutes. A nominee secretary can be provided by OCS if required and our annual compliance scheme is designed to relieve you of the burden of statutory paperwork. To order these services simply tick the boxes on the company order form as required.
Why form a limited company?A UK limited company is widely recognised as one of the most cost effective and easily managed corporate entities with which to establish a new business.
The principle benefit of trading through a limited company is the limited liability status which protects the personal assets of the company’s officers and members. Unlike non limited businesses, as long as the company is operated legally, directors and shareholders’ personal assets are not at risk in the event of the company winding up. As the company is seen as a separate legal entity, creditors are paid from the company’s assets not the directors’ personal assets.
Limited status can provide a certain level of confidence in the business both from suppliers and customers. It can be easily confirmed as a legally constituted concern and carries worldwide recognition as being a corporate body capable of conducting business on any continent whilst being established in a country with a stable and secure economy.
The company as a separate legal entity can continue to trade despite changing directors and shareholders. The company only ceases to trade when it is wound up and not when any individual leaves the company.
There can be taxation benefits to trading through a limited company. Current corporation tax levels mean that very little or no tax has to paid on retained profits and it is also possible to combine withdrawals through salary, dividends and benefits in kind in a more tax efficient manner than through non registered companies. Pension contributions for directors also qualify for tax relief and changes in legislation over the last few years have meant lower costs associated with the administration of limited companies.
Registering a limited company is a cost effective method of protecting a company name. There is no obligation for a limited company to commence trading within any set period after incorporation and names can be registered in anticipation of future development. No two limited companies can have exactly the same name and it is possible to raise an objection against any company attempting to register a name that is too similar to your own company name.
Do I need to appoint a director?Yes, all companies must have a company director. They are responsible for the day to day management and control of the company. There must be minimum of one director, there is no maximum. The minimum age for a director is 16. Directors have a personal responsibility under law to ensure that all Companies House filings are up to date and that company law is adhered to at all times. Directors do not have to be UK nationals or resident in the UK. Directors must provide their home address which is not added to the public record and a service address which is shown on the record and becomes the point of contact for that director. This can be the directors home address or company registered office or can be a professional service address. We can provide this address for any director.
Can I be the sole director and shareholder?Yes. A limited company can be set up and run by one person. With a Limited by Shares company, you can both be the director and shareholder.
How long does a company formation take?This can be as little as 3 hours. The time scale is subject to Companies House work load and any technical difficulties, but the vast majority of companies are incorporated and completed and dispatched within 1-2 days.
Companies are only incorporated in the UK on working days. Registrations submitted on weekends or UK bank holidays will be processed the next working day.
Why should I form a limited company?A UK limited company is widely recognised as one of the most cost effective and easily managed corporate entities with which to establish a new business.
The principle benefit of trading through a limited company is the limited liability status which protects the personal assets of the company’s officers and members. Unlike non limited businesses, as long as the company is operated legally, directors and shareholders’ personal assets are not at risk in the event of the company winding up. As the company is seen as a separate legal entity, creditors are paid from the company’s assets not the directors’ personal assets.
Limited status can provide a certain level of confidence in the business both from suppliers and customers. It can be easily confirmed as a legally constituted concern and carries worldwide recognition as being a corporate body capable of conducting business on any continent whilst being established in a country with a stable and secure economy.
The company as a separate legal entity can continue to trade despite changing directors and shareholders. The company only ceases to trade when it is wound up and not when any individual leaves the company.
There can be taxation benefits to trading through a limited company. Current corporation tax levels mean that very little or no tax has to paid on retained profits and it is also possible to combine withdrawals through salary, dividends and benefits in kind in a more tax efficient manner than through non registered companies. Pension contributions for directors also qualify for tax relief and changes in legislation over the last few years have meant lower costs associated with the administration of limited companies.
Registering a limited company is a cost effective method of protecting a company name. There is no obligation for a limited company to commence trading within any set period after incorporation and names can be registered in anticipation of future development. No two limited companies can have exactly the same name and it is possible to raise an objection against any company attempting to register a name that is too similar to your own company name.
What are the details required for forming a company?Company Name
Cannot be the same as an existing company. There are certain sensitive words which need clarification in order to be acceptable to Companies House. We will check your chosen name on receipt of order and contact you immediately if any clarification is needed.
Company Officers
The company must have at least one officer. The company must have at least one director. A director can also be a company secretary, the appointment of a company secretary is now optional.
Company Directors
Are responsible for the day to day management and control of the company. There must be minimum of one director, there is no maximum. The minimum age for a director is 16. Directors have a personal responsibility under law to ensure that all Companies House filings are up to date and that company law is adhered to at all times. Directors do not have to be UK nationals or resident in the UK. Under new regulations directors must now provide their home address which is not added to the public record and a service address which is shown on the record and becomes the point of contact for that director. This can be the directors home address or company registered office or can be a professional service address. We can provide this address for any director.
Company Secretary
A optional company secretary is responsible for the administrative matters of the company. The secretary is answerable to the directors and is responsible for the upkeep of company registers and minutes. A nominee secretary can be provided by CSUK if required and our annual compliance scheme is designed to relieve you of the burden of statutory paperwork. To order these services simply tick the boxes on the company order form as required.
Person of Significant Control (PSC)
All companies are required to provide details for any person holding over 25% of the shares, or who have significant control within the company. For most people the shareholders of the company will also be the PSC’s but this can be a complicated area and we will make sure that these details are entered correctly for your company. Further details can be seen here https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/621568/170622_NON-STAT_Summary_Guidance_4MLD_Final.pdf
Shareholders
There must be at least one shareholder as a company cannot exist without a share capital. Broadly speaking shareholders are the owners of the company in relation to the amount of shares held. If the company is to be wholly owned by yourself then you only need to hold one share in your name. Alternatively should you wish to allocate shares to other people any number of shares can be issued. For example a split of 100 shares between four or five people will easily indicate relative percentage shareholdings held by each individual.
Registered Office
Must be located within England and Wales (or Scotland for a Scottish Company). The address will appear on the public record and is used by Companies House, Inland Revenue and authorities for contacting the company. We can provide registered office facilities where required.
