What you’ll need to set up a limited company.

by | Dec 2, 2021

The digital era has made setting up a limited company simpler than ever before. But what will you need to get ready before you begin your application?

A Government Gateway ID

To register online, you’ll need to create a new Government Gateway ID and password for your company—you can’t use a personal Government Gateway ID for its registration.

Registered office details

The registered office is the official address of the company. It has to be a full and correct postal address in the country the company is registered, and not a PO Box Number.

All statutory company mail is sent to this address, as well as the office being displayed on public record.

Business activity

Your company business activity is defined by a SIC code (Standard Industrial Classification code). Your code will be the one you pick from the Companies House list on the gov.uk website.

Personal information

Applicants and shareholders (or guarantors) need three pieces of personal information (from the example list below) to complete an application.

· Town of birth

· Mother’s maiden name

· Father’s first name

· Telephone number

· National insurance number

· Passport number

Each director, secretary, person with significant control, and shareholder will need to provide their name, date of birth, occupation, nationality, residential address and/or service address.

Share information

Shareholder and share allocation information will also be needed to register a successful application.

Payment

Online applications cost £12 and are payable by debit or credit card. Once payment is complete, the company is typically registered within 24 hours.

Applying by post using the paper method costs £40 (by cheque) for an eight to ten-day service.

Advice and guidance

Registering a limited company with Companies House is a reasonably straightforward procedure. However, there are many advantages to having a legal adviser guide you through the process—not only with the registration process but also in the best ways to set up your new limited company.

Several legal areas can result in costly problems without the essential experience and knowledge. Also, there are numerous setup areas where that same set of experienced hands will provide details, services, and peace of mind as part of such an essential service.

Let’s chat…

The above is intended as guidance only and does not substitute legal advice. Please browse our existing Company Formation services or get in touch with LegalDrop via our contact page if you need assistance.