GUIDES

Company formation is kind of easy. Our few steps guide will help you with the formation process up to the end of your first year of trading, but make sure that everything you have to do in first 12 months.

Make a name for yourself

Choose a company name that is not listed in the Companies House. It is one of the most vital decision. Forming a company with a name is easy but there are also some restricted words that you shouldn’t use and beware of using them. You will need a registered office address for your business here all the official documents can be sent.

Grab some extras

Some extras are required such as displaying the name of your company outside the registered office and also some more like company seals which is important by many consultants on giving formal authority to company documents which is the proof of your annual return on time with correct records with Companies House.

Last minute checks

Once done with all these extras, you have to check some important    things like :

- Whether you have an accountant?

- Accountant helps your finances to be ordered up perfectly and also you have to make sure that you are not paying too much corporation tax.

- If not in UK, whether i have to make a UK bank account or do i have to register a branch company in my own country?

If you live in overseas, then you have to decide that whether the company trade its own right or have to trade registered branch company in the country of residence.

When your company is formed?

Forming your company requires few things that you should notice :

- The details of the director should be recorded in the company register.

- The share certificates should be kept safe as part of your records once its finished.

- Discuss your plans with the accountant.

Once all your records are successfully completed and checked then you are allowed to run your business.

The first 12 months

Now after all the above processes are done, in this final process you have check all the records are in order and up to date so the first annual return will be smooth as possible.

The Inland Revenue will send you a form for your first year of business and the confirmation of your company details that should be completed and returned.

At the end of first year

You must complete an annual return which should be submitted one each    year. You will be given a filing fee of 15 pounds to complete this which you can pay online. At the same time, you can request a paper from Companies House whose filing fee is 30 pounds.

Generally, the deadline for filing the accountants is 9 months but there is penalty if the deadline crosses.

So, finally this is the end of your first year of business.