An overwhelming majority of companies registered online with Companies House in 2022 with a significant rejection rate in paper applications -58% according to Companies House-. Therefore, it is vital to register with companies' houses online, but there are some fall-pits along the way.
Pick a Name for Your Business
When you are ready to register your business with Companies House, there are a few things to remember. Firstly, you need to choose a unique name for your company which meets the requirements mandated by Companies House. This can be tricky as it needs to not only be original but also adhere to specific criteria such as avoiding offensive language and not sounding like any other existing companies.
You should avoid "sensitive words" when picking a name for your company, as it would potentially be a subjective concept, Companies House compiled a "sensitive words list", check it out here;
After choosing your desired name, you need to check its availability on the Companies House website before you can go ahead and register.
Memorandum of Association
The Memorandum of Association should be filled out with details such as the company name, registered office address and its purpose. This document also needs to include a statement confirming the liability of each member of the company. This applies to limited companies only, not LLPs or CICs. To find out more about limited liability companies and how is it they are different from limited companies, check out our blog post here
Articles of Association
The Articles of Association is a document that specifies the regulations for running the company, covering topics such as shares, directors and meetings. This is also needed to complete your application. It is best to consult with a lawyer or accountant for guidance on drafting these documents correctly.
Register Your Company
Once you have both documents ready, you can submit them online to Companies House along with the registration fee. As much as it sounds straightforward, the registration form is full of fall pits, you can ask for help from our experts here; Once we talked you through you the process and submit your documents, you are now officially a company!
Keeping Up to Date and Finishing Touches
You can register for Corporation Tax with HMRC online at the same time as registering your company. It is important to stay up-to-date on your tax obligations and responsibilities, but you may want to consult an accountant or lawyer if you are unsure about anything.
Congratulations - you have successfully registered your business with Companies House! It is now time to start building and growing your company so that it can reach its full potential. Good luck!