One of the most important steps when setting up your business is to register your new company (or partnership) with Companies House.
This can seem like a daunting prospect however it is a relatively simple process providing you have the right information.
In this guide we’ll be looking at the correct information that will be required to successfully register with Companies House.Or alternatively if you prefer we can deal with the companies registration be getting in contact with us for a free consultation.
Am I required to register with Companies House?
The first question you should ask yourself is do I need to register my company with Companies House and that depends on the legal structure you have chosen for your business. Sole traders are not required to register their businesses with Companies House, although they must register with HMRC and complete an annual self-assessment tax return.
However, if you’re starting a limited company or limited liability partnership (LLP), you are legally required to register with Companies House.
Is there a cost involved in registering with Companies House?
There is a cost involved when registering your business with Companies House although it varies depending on the way in which your application is sent to Companies House, also the cost could vary depending on if you registered yourself or you have an accountant/registrar do it for you.
• If you complete the process yourself by doing it online it can cost as little as £12. This normally takes 24 hours and can be paid by debit/credit card or via Paypal.
• If you decide to register your company by post it can take longer (8-10 days) and the fee is £40.
• If it is an urgent matter and your company needs to be registered on the same day, you can pay £100 (provided your registration is completed online by 3pm).
If you get someone else to complete it for you the prices vary.
Registering with Companies House as a sole trader
If you’re operating as a sole trader, rather than a limited company, you don’t need to register with Companies House. However, you will need to register with HMRC, and complete an annual Self Assessment tax return. You may also need to register for VAT.
For more information on the legal structures for your business read more about the differences between sole traders and limited companies.
Registering with Companies House as a limited company
Completing the registration process with Companies House yourself is a relatively simple procedure. There are a few pieces of information that will be required, including your company name, company address and details of the company directors and secretary where relevant. You’ll also need a memorandum and articles of association, a template for which can be found online.
You’ll then need to register with Companies House. You should make sure that you keep your registration details safe, as you’ll need them to file further documents, which you’ll be required to do at least annually.
Once you’re registered, just follow the step-by-step process. Provided that you’ve completed the form correctly and paid the fee, you should appear on the register within 24 hours.
However if you would prefer for us to complete the process and register you’re company with Companies House feel free to get in contact.