The memorandum and articles of association are two constitutional documents that all limited companies are required to have when they incorporate at Companies House. The memorandum states the names of each subscriber (the very first shareholders or guarantors who become members during the company formation process) and their intention to form and join the business.…
Limited companies and LLPs share many similarities, most notably the reduced financial responsibility of the owners. However, they do have significant differences as well, namely: Capital investment opportunities. Flexibility of internal structure and members’ rights. The allocation and taxation of business profits. Choosing the most appropriate legal structure will depend entirely upon the kind of…
It is a simple and affordable procedure to form a private limited company in the United Kingdom, even if you are a non-UK resident. The application process and legal requirements are exactly the same for everyone, regardless of where they live. You will have to register your company with Companies House in England and Wales, Scotland or Northern…
The cost to set up a limited company depends entirely upon the way you chose to incorporate with Companies House. There are many options available to you but the most convenient and popular way to form a limited company is through an authorised company formation agent like Rapid Formations. Using an agent is also the quickest…
If you lose the certificate of incorporation for your limited company or Limited Liability Partnership (LLP), don’t worry too much. It’s quite easy to get a replacement and, depending on how you formed your company, you may have a number of options. 1. Check with your formation agent If you formed your company through an…
There is no legal requirement to open and operate a business bank account for a limited company. However, you will find it very difficult to trade and manage your business successfully without one. A separate account will allow you to effectively record and trace all business income and expenditure. If you use a personal account for…
Every limited company is legally required to provide a registered office address during the company formation process. It serves as the official contact address of a limited company or LLP, so it must be maintained at all times. A registered office can be any type of address, whether residential or business, as long as it meets the following criteria:…
The date of incorporation of a UK limited company is the date it is registered at Companies House in England and Wales, Scotland or Northern Ireland. This is when it comes into existence as a distinct legal entity. A company is ready to begin trading from the moment it is incorporated. However, it is possible to register the…
Dissolved companies are no longer in existence so the names of dissolved companies can be registered by a new company. There are no legal restrictions in place when choosing such a name, aside from the standard rules and regulations dictating all company names. You should note, however, you cannot use another company’s name when the…
A limited company shareholder is an owner of a company. A limited company director is appointed by shareholders to manage the business on their behalf. Although the roles are completely different and separate, one person can assume both positions. Alternatively, lots of different people can take on these roles. To set up a limited by shares company,…
Following the commencement of the Companies Act 2006 on October 1st 2009, a single company law regime governs all UK companies. The Companies Registry Northern Ireland (CRNI) was integrated with Companies House as part of the Department for Business, Energy and Industrial Strategy (BEIS). To form a company in Northern Ireland, you must complete an…
Private limited companies in the UK can be registered at Companies House by just one person. Whilst the application form requires you to have a minimum of one director and one shareholder, it is commonplace for the same individual to hold both of these positions. This means you can set up a company on your own. This is very beneficial…
