Registering a Company Name at Companies House – A Small Business Guide
Starting a small business can be an exciting and rewarding venture. As a small business owner, you have the opportunity to turn your passion into a successful business, and with the right guidance, you can achieve great success. One of the first steps in setting up a small business is registering a company name at Companies House. This process may seem daunting, but with this step-by-step guide, you will have all the information you need to register your company name with ease.
What is Companies House?
Companies House is the official government register of UK companies. It is responsible for maintaining and updating records of all registered companies in the UK. This includes information such as company names, directors, shareholders, and registered office addresses. Registering your company name with Companies House is a legal requirement for all businesses operating in the UK.
Why is it important to register a company name?
Registering a company name is crucial for several reasons. Firstly, it gives your business a legal identity and protects your company name from being used by others. It also allows you to open a business bank account, apply for business loans, and enter into contracts as a registered company. Additionally, having a registered company name can enhance your credibility and professionalism, making it easier to attract customers and investors.
Step-by-Step Guide to Registering a Company Name
Step 1: Choose a company name
The first step in registering a company name is choosing a unique and suitable name for your business. Your company name should reflect your brand and be easy for customers to remember. It is essential to check the availability of your chosen name to ensure that it is not already in use by another company. You can do this by searching the Companies House register or using a company name checker tool.
Step 2: Decide on a legal structure
Before registering your company name, you must decide on a legal structure for your business. The most common legal structures for small businesses in the UK are sole trader, partnership, and limited company. Each structure has its advantages and disadvantages, so it is essential to research and choose the one that best suits your business needs.
Step 3: Register your company name
Once you have chosen a name and legal structure, you can register your company name with Companies House. This can be done online, by post, or through a company formation agent. The online registration process is the quickest and most convenient option, and it only takes a few hours to complete. You will need to provide details such as your company name, registered office address, and details of directors and shareholders.
Step 4: Pay the registration fee
There is a fee for registering a company name with Companies House, which can be paid online or by cheque. The current fee for online registration is £12, while postal applications cost £40. If you choose to use a company formation agent, they may charge an additional fee for their services.
Step 5: Receive your certificate of incorporation
Once your application is processed and approved, you will receive a certificate of incorporation from Companies House. This document confirms that your company is now registered and includes your company number and date of incorporation. You can use this certificate to open a business bank account and apply for other business services.
Step 6: Register for tax
After registering your company name, you must register for tax with HM Revenue and Customs (HMRC). This can be done online, and you will need to provide details such as your company name, registered office address, and details of directors and shareholders. You will also need to register for VAT if your business turnover exceeds the VAT threshold.
In conclusion, registering a company name at Companies House is a crucial step in setting up a small business in the UK. By following this step-by-step guide, you can ensure that your company name is registered correctly and legally, giving your business a strong foundation for success. Remember to research and seek professional advice if needed, and with determination and hard work, your small business can achieve great success.
