This article introduces the formation of limited liability companies in England, Wales, and Scotland. If you are interested in registering a company in the United Kingdom (UK), the information below may be helpful for you to gain important tips regarding corporate formation in the UK.
Choose which type of Limited Company to set up. There are two types:
Most small businesses, startups, freelancers, and contractors will opt to set up an LTD, as PLCs must have a share capital of minimum £50,000, at least two shareholders, two directors, and a qualified company secretary.
The following documents are required for establishing a limited company in the UK:
Form IN01 – Application to register a Company
The IN01 document is the main form required and will include the following information:
A memorandum of association is a legal document that contains information such as the company’s name and the location of the registered office in England, Scotland or Wales. This document also sets out the objects of the company, a statement which outlines the liability of all members and details of its share capital. For companies limited by guarantee, the memorandum of the association will contain details of the amount that members will contribute. For UK companies this document will also show the names of each shareholder or subscriber and the number of shares each member holds.
The articles of association will provide details of the rules concerned with running the company. All shareholders and directors will agree to these. These rules will include details about running the company, legal responsibility, and internal management affairs. This Information will also outline rules affecting certain decisions that affect the company and the role of shareholders and directors in those decisions. In most cases, there is a standard model that can be used, however, companies can have their own rules as long as no laws are broken.
All forms including the IN01 Form, memorandum, and articles of association can be downloaded from the Companies House (Gov.UK). NNRoad can also assist you with these documents as part of our company formation services.
Submitting forms for UK company setup manually and registering a limited company directly with Companies House will cost £20. This will normally take around eight Days. Same day service costs £50. You can also register a company online which can be completed within just three hours. You would have to provide personal details to help the Companies House identify you as a company director, and you’re good to go.
Let NNRoad guide you through the company formation process. We take care of the paperwork so you can focus on your core business activities. Reach out to us today to discuss setting up your company in the UK.