The account title of a limited company bank account must be the official name of the company that is registered at Companies House. If you change your company name and it has been approved by Companies House, you must update all business bank accounts and finance agreements with the new name.
To change the account title of your business bank account(s), you will have to request the relevant form from your own bank and provide a copy of the certificate of name change that was issued by Companies House.
You might be able to complete the changes online but you should contact your bank in the first instance to find out if one of the directors has to visit a branch in person to update the details.
Additional requirements upon a change of company name
Limited company directors are responsible for ensuring the following obligations are fulfilled when a company changes its name:
- Updating the company name and bank account title with HMRC
- Notifying clients, suppliers, service providers and other business contacts
- Updating business stationery, including company signage and websites
- Making changes to visual and audio advertisements
- Registering a new domain name
- Updating statutory company records and registers.
The memorandum and articles of association are not updated as it is a historical document and remains the same from incorporation.
How to change a company name
You can change the name of your limited company at any time after company formation by special resolution of the shareholders or by means provided for in the articles of association.
To change a company name by special resolution, a majority vote of at least 75% must be achieved at a general meeting or in writing. A majority vote is worked out by counting the number of voting shares, not the number of voting shareholders. A copy of the resolution must be filed with Companies within 15 days of being passed, along with Form NM01 and the appropriate name-change fee.
Alternatively, the articles of association may allow the directors to change the company name without the approval of the shareholders. To change a name this way, the directors will have to complete Form NM04 and file it with Companies House along with the appropriate fee.
A change of company name does not become effective until Companies House has granted its approval and issued a change of name certificate. The document will contain exactly the same details as the original certificate of incorporation, with the exception of the company name. There will be no change to the company registration number (CRN) or date of incorporation.
This certificate should be kept with the company’s statutory records at the registered office address or SAIL address.
Change your company name online
You can change your company name online in just a few working hours using Rapid Formations free Admin Portal allows. Our software filling system allows you to update company details online and send copies of resolutions and other documentation instantly and securely to Companies House.
This facility is available to all UK-registered limited companies and Limited Liability Partnerships (LLPs) – existing clients are automatically registered for this service upon incorporation; non-clients can create a free account online and import an existing company onto our system.