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1.How does it work?
After you have placed your order, we email you your memorandum and Article of Association and your invoice. Your incorporation request is lodged at Companies House automatically. You should get a reply within 4 hours from the time you apply for the company depending on the queue at Companies House. Your certificate of incorporation is emailed to you once Companies House approves your name.
After Incorporation
If you have used our nominee officers (Fastrack) to incorporate, you will need to complete the form 288a for appointment of officers and submit it by logging on to our system. Then we will send you transfer documents, by email and by post depending on the package you have ordered.
If you have ordered using your own officers, we will email you your certificate of incorporation and of minutes first board meeting and depending on the package you bought we will post the printed documents and other company kit.
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2.Why do I need to incorporate?
- To protect a name
- To take advantage of the tax benefit. (No corporation tax is payable for profits under £10,000)
- Limited Liability protects the owner of the limited company from personal loss. A limited company is a separate corporate entity and unlike self-employed or soletrader, its debt is not that of the individual owner.
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3.Can I use any name to incorporate?
Choosing a name is very important because in the future this can be a valuable asset for the company. While choosing a name, you must ensure that:
- You are not using an existing name or a name which is too identical to an existing one, e.g. Arthur Lt and Arthur & Co Ltd
- You have the necessary permission to use some words whish are deemed sensitive. (Sensitive words)
- You are not using a name which causes offence or imply criminal activity
- The chosen name ends with either “limited” or “ltd” if they are to be a profit making organization.
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4.What are the requirements for a limited company?
| | Private Limited Company | Public Limited Company |
| | Private Limited Company | Public Limited Company |
| | (Minimum) | (Minimum) |
| Director | 1 | 2 |
| Secretary | 1 | 1 |
| Shareholder | 1 | 2 |
| Capital | | |
| Authorised | 1 | £50000 |
| Issued | 1 | £12500 |
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5.What is a Registered Office?
This is the company’s official address (if registered in England and Wales, it has to have its registered office in England and Wales and if in Scotland, it needs to have its registered office in Scotland). Official correspondence from government bodies such as Companies House, Inland Revenue and Court documents will all arrive on this address. It does need to be the trading address of the company.
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6.Who can be a company director or secretary?
Director
Anyone, irrespective of their nationality can act as company director subject to the following restrictions:
- That he/she has not been disqualified by court order
- That he/she is not an undischarged bankrupt
- That he/she is not a foreign national subject to restrictions imposed by the UK Government
There is no minimum age limit in the Companies Act for a director to be appointed in England and Wales. However, he or she must be able to consent to their own appointment.
Secretary
The secretary is responsible for the record keeping of the company, such as maintaining company’s register, keeping up to date the company’s record at company’s house and keeping minutes of all directors’ and shareholders’ meetings.
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7.What is Moa?
All companies need to have a MOA on incorporation, because it is this document sets out:
- the reason why the company was incorporated
- the place where the company will have its registered office
- the authorized and the issued capital
- the name and address of the members
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8.What is AOA?
Based on Companies Act 1985-1989, the Article of association regulates how the company is run and sets the code of conduct for the management of the company’s internal affairs. It draws up the rule whereby the shareholders and directors have to abide to. “Table A” contains regulations that apply as Article of association of all companies unless it decides otherwise.
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9.What is a certificate of incorporation?
Once Companies House accepts registration of your company’s name it issues certificate of incorporation with the registered name and number along with the date of incorporation. This certificate acts as the birth certificate of the company.
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10.What are your filing and registration requirements?
C House
Annual return
Resolutions
Changes in the company’s circumstances
Annual accounts
Inland Revenue
Annual accounts
Corporation tax return
PAYE Return
Customs & Excise
VAT office needs to be advised if you have to register for VAT. (www.hmce.gov.uk )
Registrar
If you are to deal with personal information, you need to contact the Data protection Registrar
Make sure that you get the consent of the DTI department before you start any activity which may require licensing (www.dti.gov.uk )
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Rates
Corporation Tax
| Financial Year Commencing | 1 April 2007 | 1 April 2006 |
| Taxable profits | | |
| First £300,000 | 20% | 19% |
| Next £1,200,000 | 32.50% | 32.50% |
| On profits over £1,500,000 | 30% | 30% |
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FREQUENTLY ASKED QUESTIONS