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How to set up a company

First things first – set up your company

Well done! You have taken a big step to financial freedom and being your own boss. However, tread carefully as setting up your company is an important part of your business, get the small details wrong and this could cost you later on.

Things to note:

  1. Is your company name available?  This can be checked by calling Companies House on 03031234500 or alternatively contact your accountant. You can also check at the Companies House website (www.companieshouse.gov.uk).
  2. Allocate the shares correctly – have you thought about shareholdings and if they are suitable for your business? Also are you setting up the company in the most tax efficient way? This is something a qualified accountant can help you with.
  3. Directors to be appointed - the directors are legal officers of the company and there must be at least one appointed.
  4. Do you need a company secretary?  This used to be compulsory; however, small companies rarely require this.
  5. Registered office – this is the official legal address of the company, so ensure that this is somewhere you can be reached.

We have a special package, where we can setup your company for you and complete all of the HMRC registrations that go with it. Please contact us to find out more.

Next: “Business Bank Accounts”
Any questions? Speak to one of our friendly accountants on 020 7969 2879.