forming a limited company - the checklist

Forming a Limited Company:

The Checklist

Produced By Wisteria Formations-

Company Incorporation Experts

1. Choosing a company name

The first thing to decide is what you are going to call

your new company.

Once you have decided there are a few things you should check...

Is the name available?

This can be done via the Companies House website

MY COMPANY

Is the URL of your name available?

Does someone already have a trademark on the name or logo

you want to use?

If they do you may not be able to use it

2. Company name restrictions

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 not be allowed.

These include...

Chartered

Post Office

FoundationBritish institute

fund

association

international

Group

benevolentRoyal

3. Registered Office

This can be your home address or business address, or you can use a

company that is offering a registered office service.

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.

To protect your privacy at home you may wish to nominate the address of your

company formation agent or accountant.

4. Company Directors and Secretary

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.

Have you considered whether or not to have a company secretary?

By law a private limited company need not appoint a company secretary. A

director can carry out the responsibilities instead.

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.

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.

5. Shares

You need to decide who your shareholders are going to be and how many shares you are going

to issue.

5. How will you form your company?

After deciding on all of the basic information about your company you now have three options when deciding how to incorporate it...

Do It Yourself

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.

Use a company formation agent

Using an agent is relatively inexpensive (around £25 - £75) and they will deal with all of the forms and documentation on your behalf.

Using a solicitor or accountant

Much easier than doing it yourself, but by far the most

expensive option

7. Formation

Now you’re ready to form your company!

8. After Formation

Once your company is formed you may want

to consider...

-Appoint bankers and accountants

-Registering for VAT

-Registering for PAYE

-Business planning

-Putting processes in place

Wisteria Formations can help with every aspect of company

incorporation

Wisteria Formations Limitedwww.wisteriaformations.co.uk

Professional company formation service from £24.99