Scottish Package

You will need a company name, a registered office address in the UK, and the director / shareholder details (can be the same person), e.g. name, date of birth, occupation, nationality, residential address.

For further details see - Required Information for Company Setup.

No, only one person is required. Although all limited companies require at least one director and one shareholder, it is common for one person to perform both roles. A limited liability partnership (LLP), however, requires at least two members (partners).

We recommend the assistance of an accountant with your company’s annual accounts and annual tax return, which will be due for filing (at Companies House and HMRC) 9 months after the end of your first financial year.

We would also recommend an accountant sets up your financial record-keeping and you obtain advice on how to take money out of your limited company.

Our banking partner Wise provides our non-UK resident customers with the facility to open a business bank account.

The application process is online and does not involve the requirement for hardcopy documents or a visit to the UK to open an account. Account openings are subject to approval.

Please have a look at our blog on the subject: Business bank accounts for non-UK residents.

When you purchase our business address service, you are buying the right to use our address as your business address and publish it on your letterheads, invoices and website. We will also receive and log your mail onto our system and securely send you a copy of your mail by scan and email. We will also send anything we are unable to scan (such as bank cards) by first class post.

Unlike our service address and registered office services, we do not include the free forwarding of business mail to you, as we are unable to assess just how much mail each client will receive, and therefore require charging the cost of 50p per item that is sent by scan and email. For anything sent by first class post, we charge Royal Mail postage plus a 15% handling fee.

Yes, the Privacy and All Inclusive Packages include Covent Garden address services.

Our Scottish Package includes Glasgow address services.

The registered office address can only be used for UK government mail and Court documents. If you also wish to use our address for general business mail, you should purchase the business address service.

You do not need to register for VAT until your annual turnover exceeds the VAT threshold, which is £90,000.

You can, of course, decide to register for VAT on a voluntary basis if your turnover is less than the threshold figure. As a VAT registered company, you can reclaim VAT paid on all goods and services purchased by the company.

For further reading on VAT, consult the Rapid Formations blog: Do I need to register my limited company for VAT?

There is only one way to reserve a company name at Companies House, and that is to actually register a limited company. No facility exists to simply reserve a company name without registering a company.

If you wish to reserve a company name for future use, you should let HMRC know that your company is dormant. Consequently, HMRC will not expect a tax return to be filed, and you will only be liable to file inexpensive 'dormant accounts' instead of annual accounts.

For further reading on dormant companies, have a look at our blog: A guide to dormant companies.

Limited companies:

The vast majority of companies are registered with the objective of making a profit for their shareholders, and a limited company (also referred to as a private company limited by shares) is the standard corporate vehicle used for this purpose. A limited company is generally suitable to carry out most commercial business activities.

Limited by guarantee companies:

This type of company is generally used by non-profit organisations such as workers co-operatives, membership organisations including students’ unions, sports clubs, and also charities.

This type of company has no share capital or shareholders, and instead has guarantors who undertake to guarantee a certain amount of money should the company become insolvent.

This type of company has no share capital or shareholders, and instead has guarantors who undertake to guarantee a certain amount of money should the company become insolvent.

LLPs:

Limited liability partnerships, or LLPs, are similar in structure to a traditional partnership; however, they enjoy the same limited liability of a limited company. They are generally used by professionals such as solicitors, dentists and accountants.

The decision of whether to opt for a limited company or LLP is not straightforward, as there are many differences between the two company types - perhaps the most important being taxation. For further reading on this subject, have a look at our blog: Limited company or LLP?

All companies, including non trading and dormant companies must file a confirmation statement at Companies House every year.

This document confirms the information Companies House holds on a company is up-to-date.

Please note: This service excludes the Companies House filing fee of £34.00. If you choose to have Rapid Formations file your confirmation statement, at the time of filing we will take payment of £34.00 using the payment card details that are stored in your account.

The Business Telephone Number Service helps businesses improve their corporate image by providing them with a London or regional landline number. It also includes call forwarding to the phone number of your choosing.

After your company is formed, we will contact you within 1 working day to set up your service.