Company Registration Basics

The first step to starting and operating a business is to go through the company registration process. While it is quite a simple and straightforward procedure, it is highly recommended that you use a company formation agency such as Companyformations24.7 to complete the procedure, to ensure that nothing is overlooked.

In the UK, company registrations have become highly automated and a large part of the process is taken care of electronically, which companyformations247.co.uk can handle with utmost efficiency. The process for company registration itself takes only a few days, but preparation does take additional time.

There are four types of business categories in the UK, and all businesses fall into these categories. The four categories are private companies that are limited by shares, private companies that are limited by guarantees, private limited companies and private unlimited companies.

The most popular type of companies registration are private limited companies, which are considered to be one of the easiest kind of companies to manage and also quite cost effective. Since the private limited company is a legal entity in itself, the company owns its assets, which are not the property of its directors or secretary. Another advantage is that there is only a limited amount of liability for the shareholder, whose personal assets cannot be used to pay off any company debts. These companies also offer greater national insurance benefits.

The key to company registration is attention to detail. For a limited company, it is essential to register with government bodies such as the HM Customs and Excise, the Financial Services Authority and the Inland Revenue department for PAYE, a detail that is often easily overlooked.

Companyformations247.co.uk is able to handle the complete process of companies registrations, right from having a registered office address and a nominee secretary, opening a UK bank account, mail forwarding, Vat registration, accountancy services, payroll and taxation advice. In essence, all the things that go into creating the launching pad of a successful business are taken care of.

Part of the company registration process involves checking for an available business name, which is usually done on automated software and takes only a few minutes. If the business name contains any ‘sensitive’ words then permission is required for approval of the business name.

For company registrations in the UK, one has to complete two Companies House forms, Form 10 and Form 12, the Memorandum and the Articles of Association, all of which need to be submitted to Companies House. Once your business is registered, the Memorandum and the Articles of Association will be given to you.

Although the process of company registration is quite easy, it can take some amount of time and effort, especially if you are going through it for the first time. The most effective way is to have a professional agency such as Companyformations24.7 handle all the technicalities. It gives you the opportunity to escape the teething troubles of registering a company and concentrate just on the business.