Forming A Limited Company - The Checklist


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Wisteria Formations presents a simple guide for people incorporating their first company to follow. The checklist will ensure that you adhere to the various legislations regarding company formation as well as ensuring nothing is overlooked.

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Forming A Limited Company - The Checklist

  1. 1. Forming a Limited Company:The Checklist<br />Produced By Wisteria Formations-<br />Company Incorporation Experts<br />
  2. 2. 1. Choosing a company name<br />The first thing to decide is what you are going to call your new company.<br />
  3. 3. Once you have decided there are a few things you should check...<br />
  4. 4. Is the name available? This can be done via the Companies House website<br />MY COMPANY<br />
  5. 5. Is the URL of your name available? <br />
  6. 6. Does someone already have a trademark on the name or logo you want to use?<br />If they do you may not be able to use it<br />
  7. 7. 2. Company name restrictions<br />When you’re sure that the name is free you may want to check it against the list of sensitive words at Companies House that may notbe allowed.<br />
  8. 8. These include...<br />Foundation<br />association<br />Chartered<br />institute<br />British<br />international<br />Post Office<br />fund<br />benevolent<br />Royal<br />Group<br />
  9. 9. 3. Registered Office<br />This can be your home address or business address, or you can use a company that is offering a registered office service.<br />
  10. 10. As registered company addresses are made publicly available it might be prudent to avoid using your home address...Or you could find customers and creditors at your front door on a Sunday morning.<br />
  11. 11. To protect your privacy at home you may wish to nominate the address of your company formation agent or accountant.<br />
  12. 12. 4. Company Directors and Secretary<br /> You’ve probably already decided who will be running the company. This person will normally become the director. Each director should be made aware of the legal responsibilities placed on them.<br />
  13. 13. Have you considered whether or not to have a company secretary? <br />
  14. 14. By law a private limited company need not appoint a company secretary. A director can carry out the responsibilities instead. <br />
  15. 15. However, the role of company secretary is very important. They deal with the administration of the company and ensure that the relevant documents are filed with Companies House on time. <br />
  16. 16. By having an individual or agent as your company secretary you can be sure that your secretarial needs are going to be correctly fulfilled and that you won’t incur any fines for submitting forms late.<br />
  17. 17. 5. Shares<br />You need to decide who your shareholders are going to be and how many shares you are going to issue.<br />
  18. 18. 5. How will you form your company?<br />After deciding on all of the basic information about your company you now have three options when deciding how to incorporate it...<br />
  19. 19. Do It Yourself<br />The cheapest option, but it can be difficult to know which forms to complete or where to get the memorandum and articles of association from.<br />
  20. 20. Use a company formation agent<br />Using an agent is relatively inexpensive (around £25 - £75) and they will deal with all of the forms and documentation on your behalf.<br />
  21. 21. Using a solicitor or accountant<br />Much easier than doing it yourself, but by far the most expensive option<br />
  22. 22. 7. Formation<br />Now you’re ready to form your company!<br />
  23. 23. 8. After Formation<br />Once your company is formed you may want to consider...<br />
  24. 24. -Appoint bankers and accountants-Registering for VAT-Registering for PAYE-Business planning-Putting processes in place<br />
  25. 25. Wisteria Formations can help with every aspect of company incorporation<br />Wisteria Formations Limited<br /><br />Professional company formation service from £24.99<br />