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 starting your business in the UK.
Company Types in the UK
Choose which type of Limited Company to set up. There are two types:
- Private Limited Companies (LTD)
- Public Limited Companies (PLCs)
Most small businesses, startups, freelancers, and contractors will opt to set up an LTD, as PLCs must have a share capital of a minimum of £50,000, at least two shareholders, two directors, and a qualified company secretary.
Documents Required to Open a Company in the UK
The following documents are required for starting 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:
- Your new company name
- Company type
- Registered office address
- Names of company secretary if appointing one
- For Private Limited companies, the appointment of a company secretary is optional
- Names of the company director(s)
- Names and Addresses of Company Directors
- Share capital information
- Memorandum of association
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 that 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.
Articles of Association
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 how certain decisions 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.
Where Can I Get the Documents Needed for UK Company Setup?
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.
How Much Does it Cost to Submit UK Company Formation Documents?
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.
Also, you can 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 process of starting a company in the UK. We take care of the paperwork so you can focus on your core business activities and the growth of your business.
Reach out to us today to discuss opening your company in the UK.