Table of Contents
As simple as the company formation process is, mistakes can happen. Particularly when it comes to typos within the application. If you have registered a company, only to notice that there’s an error with your company name – don’t worry, this is fixable. In this article, we look at how to go about changing a company name.
Contact us immediately if you have just sent the application
If you have noticed a mistake in your company formation application and it has not yet been accepted by Companies House (and you are a Rapid Formations customer), get in touch with us immediately. There is a possibility that we can retrieve the application and fix the issue before it’s processed.
The steps to correcting a wrong company name
If you wish to change a company name, you must follow the correct protocols, regardless of why you want to make the update (general mistake, typo, or change of mind). This involves:
- Choosing a new company name
- Passing the resolution
- Notifying Companies House
Whilst step ‘2’ may seem unnecessary, especially if you are changing the name because of a simple mistake, it is required to ensure that you remain fully compliant with company law. Let’s now look at these steps in more detail.
1. Choosing a new company name
As you would expect, the new company name must still adhere to the company name rules and regulations as set out by Companies House. This means it must:
- Be unique
- Not be too similar to another name that already exists on the register (discounting the erroneous company name that you have registered)
- Not be offensive
If the new name contains any sensitive words or expressions, and permission has been granted to use the company name, written approval from the appropriate body must be included when notifying Companies House of the change.
You can check if your proposed company name is available, and if it includes any sensitive words or expressions, with our company name search tool. However, do not proceed to purchase another company formation package.
2. Passing the resolution
The necessary people within your company must formally agree to change the company name. This decision is normally made by members (shareholders) and not directors.
Typically, this is done by passing a special resolution. This can be achieved at a general meeting or, more conveniently, through a written resolution.
Passing the special resolution at a general meeting
The correct procedures should be followed for arranging and hosting a general meeting. This includes providing details about the special resolution that is going to be voted on (for example, ‘we propose changing the company name from X Ltd to Y Ltd’).
Then, at the general meeting:
- The members should vote on the special resolution either by a show of hands or a poll
- If at least 75% of the votes are in favour of the company name change, the special resolution is passed
- The result should be recorded in the meeting minutes
All members should then receive an official written notification of the special resolution that has been passed. Companies House must be notified of the name change within 15 days of the general meeting taking place (see the relevant section below on how to do this).
Passing the special resolution with a written resolution
Rather than taking the time to arrange and host a general meeting, it’s normally quicker to hold the vote by circulating a written resolution. This enables the special resolution to be passed without the requirement of having all members in the same room at the same time.
To arrange this, details of the special resolution should be shared with all members who are permitted to vote. This can be done via email, post, or a message on the company website. The notification should include:
- The exact wording of the special resolution
- Information on how votes can be made (for example, with a signature, an e-signature or an email)
- The deadline for voting
Once voting has concluded, if at least 75% of the votes are in favour of the company name change, the special resolution is passed. All members should be officially notified and Companies House must be informed of the name change within 15 days of the vote result (see the relevant section below on how to do this).
Can directors vote on changing the company name?
Generally speaking, unless directors are also shareholders (with voting rights), they do not get a vote on whether or not the company should change its name. However, it is possible for a company to use bespoke articles of association to give directors a vote.
If you have enabled this (companies formed with Rapid Formations do not include this provision), we recommend revisiting your articles of association to check the specifications that allow the directors in your company to vote. For example, it may stipulate that a special resolution of the directors must be passed at a board meeting to change the company name.
3. Notifying Companies House
Now you need to let Companies House know about your intention to change the company name. If you decide to change the name via a special resolution (at a general meeting or with a written resolution) you can do this:
- Online with the Companies House WebFiling service (this requires a £20 payment), or
- By downloading, printing, completing, and then posting the ‘NM01: Notice of change of name by resolution’ form to Companies House (this requires an £30 cheque or postal order payment)
If using the online method
Once you have logged in to Companies House WebFiling, you will need to provide your company number, company authentication code, new company name, and confirmation that a special resolution has been passed.
If using the paper method
You will need to provide your company registration number, existing company name, new company name, and signature. You will also need to attach a copy of your special resolution.
In instances where the company has made changes to the articles of association to allow a director to change the name, the ‘NM04: Notice of change of name by means provided for in the articles’ should be completed and posted. This should be accompanied by a £10 cheque or postal order. There is no option to complete this online.
Online applications are normally processed by Companies House within 24 hours, whilst paper applications typically take 10 days. Once accepted, Companies House will update the public register accordingly.
About your old company name
Once a name change has gone through, you will not be issued a new Certificate of Incorporation. Instead, you will be provided with a Certificate of Incorporation on Change of Name (digitally).
Also, when the name is changed, the old company name will still be visible on the Companies House public register under the ‘Previous company names’ field. Unfortunately, there is nothing you can do to prevent this.
We can help you change your company name, compliantly
If you require assistance in following the steps outlined in this post, we can help with our Change of Company Name Service, available for only £69.99.
With this service, we will provide you with all the documentation that you need, including the required resolution. Once these have been signed by you, we will file the change of name request online with Companies House on your behalf.
Then, as soon as the change has been accepted, we will email you the Certificate of Incorporation on Change of Name. It’s the simplest way to change your company name the right way.
Thanks for reading
If you have made a mistake and registered the wrong company name, don’t panic. Follow the steps covered in this post (or purchase our Change of Company Name Service) and you’ll be able to quickly and simply rename your company.
We hope you have found this post useful. Please leave a comment if you have any questions.
