Learn About Forming A UK Company
Mostly today companies are formed in the UK electronically via the websites of a formation agent. A list of approved formation agents can be found at the Companies House website although Companies House themselves do not provide an online service. Anyone can set up a company be they an individual working by themselves or a specialized agent, accountant or solicitor working on behalf of someone else. The majority of these online agents offer company formation packages that may cost less than £100. The fee to process a paper filing via Companies House is approximately £20.
An important factor to be aware of if applying for company formation by paper is that the £20 fee charged by Companies House will not cover the witnessing papers, the memorandum of association and the articles of association. The memorandum contains the names of everyone wanting to form the company and sets out important rules for the company and the articles establish the companys internal workings. These vital documents need to be overseen by a solicitor or accountant and witnessed. If applying by paper via Companies House also be aware that the process will usually take around four weeks to complete.
When registering by paper you will also need to include the vital Application to register a company Form IN01. This document covers all the intended details of your company. Here you establish the company name which you can check the availability of on the Companies House website. Also included in this form is the location of your registered office i.e. England, Scotland, Northern Ireland or Wales. Other details on Form IN01 are the subscriber details, the names of company secretary and directors if applicable and details of any share capital details also if this applies to the company.
If applying electronically, software that is compatible with the Companies House eFiling system is used. This is usually done by approved Company formation agents that are linked directly to Companies House. These specialist agents submit all the details. It is important to use an agent that is on the Companies House list of agents as these will have passed the required integration testing process. Agents work in different ways depending on the software they use but you will still need to submit to them the all required information.
Various different kinds of company are formed in the UK via Companies House. Some of these are public limited companies, private unlimited companies and private companies limited by guarantee. There are several websites you can look at to do your research and help you understand the process better however it is important to get some professional advice especially if you intend to register your company by yourself. Company formation agents are widely recommended as opposed to doing it yourself and will be able to help and advise you through the process of registering a company.
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