Tips for Buying a Company

When entrepreneurs decide to embark on a business venture, they generally think of it in terms of ‘starting from scratch’. This attitude entails some major disadvantages, such as establishing a customer base, ensuring cash flow, marketing a new product and hiring employees. All these can prove quite tedious, especially since a budding entrepreneur is not backed by either good reputation or a track record. Buying a business proves beneficial in various ways.

Benefits of Buying a Company

If the selection is done carefully, the following are some of the many benefits of buying a company.
A business acquisition:

• generates positive cash from Day One
• involves less failure risks
• boasts tried and tested business concept, services, policies and strategies
• offers established clientele and suppliers
• has trained employees
• ensures affordable financing to end the acquisition procedure
• offers immediate credibility

As opposed to this, start-ups show no promise in terms of customers or number of employees. Rejection of financial requests will not be surprising.

Buying a Company: Essential Considerations

Buying a company can entail several benefits that have the possibility of translating into success if certain points are kept in mind. The considerations are essential because it is important to remember that an existing business will not be sold unless the business is facing some difficulties. After acquisition of an existing company, an entrepreneur has to focus on ridding himself/herself of those obstacles.

Here are some tips to ensure that your choice of company is the best:

• Consider buying a company within your field of interest and that which best matches your skills and experience.
• Decide on the size of business you can comfortably handle. The size should be considered in terms of number of employees, location and sales.
• While fixing the geographical area of the company, assess the labor pool and the cost of operating from that particular area. Calculate the wages, taxes and similar requisites.

After these considerations are looked into, begin your search for an existing company in a local newspaper. You can also place an advertisement in the newspaper yourself. Put all your contacts and networking abilities to use and you are sure to hear of good business openings.

After buying a company, you will have to re-register in case you want changes made to the domain name, or any other aspect. Trust the experts at CompanyFormations 247 to complete this task for you quickly and at the best rates.

Tips to Register LTD Company

There are more than 1.15 million limited business organizations operating in the United Kingdom currently. The popularity of a limited company is credited to the benefit of ‘limited liability’, meaning, in case of business failure, the personal assets of the director/s and shareholder/s cannot be touched. Therefore, most entrepreneurs like registering their businesses as limited companies. The incorporation procedure is quite easy, although long and time consuming. Follow the tips given below to register a ltd company.

Register Ltd Company: Business Guide

You can register a ltd company on your own or with the aid of an agent. For registration purposes, you would need to go through the following:

Registration at Companies House: Companies House is the sole authorized registrant of all company formations in the UK. Before a company is established as a limited organization, it needs to be registered with this authority.

Submission of documents: Some of the documents that need to be submitted for registration purposes are:

• Memorandum of Association: This would include the name and location of the company as well as the type of business.
• Articles of Association: This document would outline the directors’ powers and shareholder rights, among other things.
• Form IN01: This has replaced Form 10 and 12 from October 1, 2009 and requires details of the company’s official address, consenting secretary (-ies) and director/s and subscribers. In case the company is limited by shares, the entrepreneur would also have to mention the share capital details.

Legal Structure: Private limited companies and public limited companies have different set ups:

• Private limited – These cannot put forward shares to the public but are allowed to have as many shareholders as they want. Such setups must have one director and one secretary.
• Public limited – These can offer shares to raise funds. Such setups require two directors and one secretary.

There are certain requisites of limited companies. Having prior knowledge of these will prove useful after you register a ltd company. The requirements are:

• Registration at Companies House
• Annual accounts filing at Companies House
• Companies House also needs to be updated on a company’s basic details. To this end, the annual returns must be calculated.
• The HMRC (Her Majesty’s Revenue and Customs) has to be informed about the company’s profits or taxable income for the particular year.
• The company should file the yearly HMRC corporation tax return and make their due tax payments before the end of nine months.
• All employees of the company must pay the requisite income tax and the national insurance levied on their income.

Take the aid of the experienced professionals at www.companyformations247.co.uk to register your company and begin operating it within 24 hours.

Types of Limited Company Formations

Running a business in the current volatile market scenario can prove difficult. It is not unusual to see businesses run into financial difficulties. Therefore, it is recommended that new entrepreneurs choose limited company formations over other kinds of setups, such as sole proprietorships. The primary advantage of limited business setups is that it does not jeopardize the personal assets of the owners, directors or shareholders in the event of failure. However, prior to registration, it is crucial to decide the type of limited company formation one wants to opt for.

Limited Company Formation: 4 Types

Most small or medium-sized business organizations that acquire the limited company status generally become private limited businesses. However, there are essentially four types of limited company formations:

Private company limited by shares: Most private businesses are owned and operated by the shareholders and they are limited by shares. This implies that the liability of each member and shareholder is in proportion to the individual share capital of each.

Private company limited by guarantee: Such setups do not have shares and the managing committee members stand as guarantors in place of shareholders. In case of business failure, the liability of the members is limited to the sum they have decided to contribute as company assets. This business structure is commonly used by commonhold businesses, social enterprises and charities, in order to reduce the personal liability of the directors and trustees.

Private unlimited company: Very few businesses opt to become unlimited companies, since there is no limit to the managing committee members' liability. Such companies may or may not choose to have share capital.

Public limited company (PLC): Such a company setup has a share capital, which restricts the liability of the members to the amount that remains unpaid on the shares. These companies:

• are allowed to raise cash by selling their shares on the stock market
• must possess a share capital of a minimum of £50,000 or the same amount in euros
• have to appoint two directors to run the management as well as a qualified secretary

A private company limited by shares can become a PLC only by re-registering. Naming a company is of great importance as well. Entrepreneurs must avoid names that are offensive or those that bear a resemblance to any other company name in the Companies House index.

You can complete the procedure by yourself or you can select an agent to do it for you. To use the electronic method, you will need an agent. To get the services of the most experienced agent and at the most reasonable rates, contact www.companyformations247.co.uk.

Company Set Up Tips

The year 2009 saw 348,677 businesses being established in England, Wales and Scotland, while 162,329 companies were set up between January and May 2010. These statistics, which have been provided by Companies House and featured on the CompleteFormations.co.uk website, prove that the UK is the hotspot for most entrepreneurial ventures. The primary reason for entrepreneurs preferring the UK over other countries is the stable economy, which is conducive to forming and operating industries. Moreover, the legal procedure for establishing a company in the UK is very simple. Despite this, some company set up tips would prove beneficial.

Company Set Up: Points to Remember

You can handle a company set up all by yourself or you can choose to employ an agency to do the job for you. Whatever the case, there are certain important aspects you must remember:

Document filing: Documents can be filed at Companies House in two ways:

Electronic – This kind of filing requires compliance to specifications listed out by the registrar. The software filing format is present in the rules mentioned in the website. Electronic filing will require £15 as registration fees and £30 for ‘same day’ service.

Paper – Each paper must state the official name and number prominently. However, there are a few exceptions to the rule that are mentioned in the registrar’s rules. The paper must be a plain, white, A4 size, with matt finish. The text must be black, clear and legible. Follow this guideline while filling up the forms:

• use black ink
• use bold lettering
• make sure it is in the portrait format
• carbon copies will not be accepted
• refrain from using a dot matrix printer
• photocopies can result in grey shading, thereby, making the text unclear

Choice of company name: An entrepreneur can select a company name but it has to be approved by the Secretary of State before it can be utilized. Some restrictions are applied on usage of names. Proposed names will be barred if there is:

• any suggested connection with Her Majesty’s government, local or public authority, or any devolved administration;
• inclusion of sensitive words and expressions

There are some other clauses in addition to the aforementioned ones. They are:

• Insertion of words denoting a particular business type, especially if the business does not belong to the category. For instance, the inappropriate use of ‘limited’, ‘Limited Partnership’ or ‘unlimited’.
• Identical to any other company name mentioned in the Companies House index.

Take the aid of www.CompanyFormations247.co.uk, one of the most renowned agencies in the UK, to fill up the forms.

Roles of Companies House

Companies House, an executive agency of the UK government, is the authorized registrar of business incorporations in England, Scotland, Wales and Northern Ireland. Its main headquarters are in Cardiff, while the operational offices are in Belfast, Edinburgh as well as London. As a state-funded body, Companies House performs several vital functions, including provision of company registration information to the public, ensuring compliance and enforcing rules.

Companies House: Roles and Duties

Apart from validating and authorizing company formation applications and providing a unique company number, Companies House also:

Regulates statutory accounts: All companies are legally bound to prepare and submit annual statutory account, which is handled by the sole registration authority. The submission deadlines differ according to the type of company. For example, Public Limited business houses are allowed a shorter time period to complete their financial statements than the private entities. Companies House verifies that the submitted documents are prepared in compliance with the required format for the company type in question. It checks for any exemptions related to small and medium-sized businesses.

Ensures submission of annual returns: Submission of yearly returns is another legal requisite of companies functioning in the UK. Firms are supposed to detail information about the directors, secretary, shareholders as well as their current registered address. Companies House takes care of all this.

Tracks company changes: Certain circumstances, such as transfer of powers, appointment of a new director or secretary, change of official address and other similar alterations, require notifying Companies House about them. The notifications can be made electronically or through paper. Forms 288a, 288b and 287 need to be used to make and report the changes. The Registrar of Companies will offer the validation stamp if the procedure is completed properly. Companies House would also file and maintain a record of all these changes.

Provides business information: This authority offers facilities allowing the general public access to necessary information about registered UK companies. The details can be accessed via pots or electronically, the latter being the most convenient method of procuring information. However, a company director’s residential address is no longer displayed in the public domain. This has been as a security measure for celebrities, high profile businessmen and those operating in sensitive areas. Anyone needing access to such information has to apply to the court with evidence of genuine requirement.

You can submit your application to this supreme company incorporation authority via an agent, the easier and time-effective option. Choose the experienced professionals at www.companyformations247.co.uk to complete this task for you.

Benefits and Considerations of Setting up a Ltd Company

With 32,091 companies operating in the country, the United Kingdom is definitely the industrial hub of the world, according to the February 2010 reports of the Companies House. Business organizations that are established as limited companies take on a legal identity, separate from their owners or shareholders to become a corporation. In this way, setting up a Ltd company proves advantageous to the entrepreneur.

There are three types of limited companies:

• Private companies that are limited by shares. These offer limited liability to the entrepreneurs and shareholders.
• Private companies that are limited by guarantee do not have share capital. It is guaranteed by the members of the company.
• Public limited company, in which the payment on share amount is handled by the shareholders.

Benefits of Setting up a Ltd Company
For setting up a Ltd company one has to submit the required documents and data to the sole authority of company formation in the UK, the Companies House. In such an establishment, the entrepreneur’s liability is limited. In this way, the owner has to tackle less responsibility of debt situations than an entrepreneur of an unlimited company. The following are some of the main benefits enjoyed by a limited company:

• Personal liability or other risks can be avoided to a great extent
• Loans for business purposes can be availed easily
• A Ltd company enjoys more credibility
• Such a company cannot appoint Nominee Company officers or shareholders
• Records of business formalities are not required to be maintained
• The option of ‘pass through’ taxation

Considerations before Setting up a Ltd Company
There are certain considerations to be kept in mind while setting up a Ltd company. The most important of all is filling up the Memorandum of Association. This is the most crucial document and, therefore, an entrepreneur has to ensure the incorporation of the following points:

• ‘Ltd’ has to be mentioned after the company’s name. The option of not applying the word can be granted with specific exemptions only.
• The location of the company had to be mentioned.
• Company objectives need to be mentioned, along with all the activities that the company might engage in.
• Subscription of the initial members, along with their names, addresses and description must be mentioned.

Apart from this, one also has to make sure that the company name is different from existing or booked company names. Several such clauses and conditions can be easily completed with professional aid. For more information about the registration procedure, visit www.companyformations247.co.uk.

Essentials to Register a Company

Statistics provided by the Companies House, the UK, the official registrant of businesses houses in England, Scotland and Wales, show that 28,072 companies were formed in the United Kingdom in January 2010 and 32,091 companies came into being in February 2010. From small business enterprises to the big industrial brands, all want to make their presence felt in this region. To register a company in the UK, one has to simply contact the Companies House and adhere to the established rules and regulations. Getting in touch via the internet has become the preferred option, rather than visiting in person.

Requisite Paperwork to Register a Company
One could register a company under the Section 10 of the Companies Act, 1985 until October 1, 2009. After this, Section 8 of the Companies Act, 2006, was implemented. Some of the documents that have to be presented before the Registrar of Companies include:

Memorandum of Association: This form must compulsorily have the following information:

• Company’s name
• Office address
• Business objectives

The aim of establishing a business organization does not require elaboration. The objective can simply be to continue operating as a general commercial organization. This memorandum has to contain the signature of each of the subscribers, which must be attested by a witness.

Articles of Association: This document establishes the ground rules that would determine the company’s internal affairs management. This document also requires the subscriber’s signature and the attestation of a witness before it is delivered to the Registrar.

Form 10: This specifies the:

• Facts about the first directors, including the director/s names, residential addresses, date of birth, their occupation as well as information of any job profiles they have held in the last five years.
• Information regarding the secretary
• Registered official address

Each of the appointed officers and subscribers has to sign and cite the date/s of signature.

Form 12: This is a constitutional declaration of compliance with legal requirements of the company incorporation. The form needs to have the signature of the solicitor who helps in the business incorporation process. Alternatively, it also has to be signed by one director or even the secretary whose name is contained in the form. This document may be signed by any of the following:

• commissioner for oaths
• a notary public
• a justice of the peace
• a solicitor

For completing the entire procedure, you can hire agents. One of the oldest and the best incorporation agencies is Company Formations 24.7. To know about the expert services offered, visit www.companyformations247.co.uk.

Is Company House the Supreme Authority for Company Registration?

The UK had introduced a company formation and registration system in 1844. Since the year 2009, company registration affairs began to be dealt with according to the rules mentioned in the Companies Act 2006. Prior to this, business details were filed according to the laws of the Companies Act 1985. Company House, an executive agency of the UK government that operates under the Department for Business, Innovation and Skills (BIS), takes care of business registrations. All limited companies established in England, Wales and Scotland are registered at this agency. More than 2.6 million limited companies function in Great Britain and each year witnesses the incorporation of over 300,000 new business houses.

Functions of Company House

• The three major functions of Company House include:
• incorporation and dissolution of limited companies
• examination and filing of company information submitted under the Companies Act
• making all this information accessible to the public

General Information about Company House

Directors’ residential address not in public domain: Since the enforcement of the Companies Act 2006 on October 1, 2009, the home addresses of company directors are not available for public review like it was before. Previously, the obligation to file residential addresses while registering businesses had proven disadvantageous to celebrities and those business men functioning in sensitive locations. The director’s address will be displayed only if liquidators, creditors or shareholders request for disclosure of address after providing substantial evidence of the company address being ineffective. The address can also be disclosed in case it is necessitated by a decree of court.

Types of companies: The following are some of the types of companies recognized by Company House:

• Public Limited Company (PLC)
• Private company limited by shares (Ltd)
• Private company limited by guarantee
• Unlimited company
• Limited Liability Partnership (LLP)
• Limited partnership (LP)
• Societas Europaea (SE)
• Companies registered by Royal Charter (RC)
• Community interest company

The Registrar of Companies: The Registrar for England and Wales is Gareth Jones. He is also Chief Executive of Company House. His office is in Cardiff. The Registrar for Scotland is Dorothy Blair and her office is in Edinburgh. The Registrar for Northern Ireland, Helen Shilliday, is based in Belfast. Apart from this, Company House has an Information Center in London.

The best way to register a company is with the help of online registration agents, such as Company Formations 24.7. The expert team at www.companyformations247.co.uk specializes in assisting entrepreneurs with company formation procedures, administration and information services and offers its services for all stages of the incorporation process.

Facts about Business Incorporation

Every business house aspires to become a corporation so that it is recognized by the law as a legal entity. The process of business incorporation is moderately easy and the authorization is recognized all over the world. The United Kingdom witnesses the registration of several companies and corporations every year. The year 2009 saw the establishment of 233,770 companies in the UK, while the previous year had witnessed the growth of 354,761 companies.

The following are some documents to be submitted to the Companies House for incorporating your business:

• Memorandum of Association
• Articles of Association
• Forms 10 and 12

Business Incorporation: Requirements
The following are an overview of the attributes essential for business incorporation in the UK:

• The company must have a director responsible for day-to-day operations and decision-making for immediate and future benefits.
• In a limited shares company, at least one shareholder is required. Often, this shareholder doubles up as the company director.
• A means to pay the business registration fee is required. You must submit at least £24.99 to Registrar. A debit or credit card is necessary for the purpose.
• The answers to the security questions, the director’s and shareholder’s signature is crucial. Some questions may be personal, but correct information is imperative.

Business Incorporation: Requisites for Offshore Companies
For offshore business incorporation, it is not important for the business head to be present in person. One simply has to submit an online application form and courier or fax copies of the required documents. Apart from this, the offshore company will also have to:

• Open a bank account in the UK
• Submit a clear copy of the driving license, passport or national ID to the agent of the registration enterprise so that the company has a valid evidence of the directors and shareholders they incorporated.
• Submit a Beneficial Owners Declaration or BOD informing the registration agent about the owner’s residence, career, current job profile and intended profile in the new organization.

Company Formations 24.7 is a company formation agent who has incorporated several business houses, and has aided them in deciding the name and structure for their businesses. So, if you too want to have your business incorporated, visit the agent’s website www.companyformations247.co.uk. The agent also offers attractive discounts and benefits for entrepreneurs who avail their services right now! Certain attractive benefits include opening a Barclays bank account and mailing of certificates of incorporation to the client.

New Business Set Up

There are several considerations for the success of a new business setup. Two most important requirements for the successful establishment and maintenance of a business are:

• A business plan
• Marketing and promotion

Financing is one of the foremost requisites for a business set up. To secure funds, entrepreneurs must formulate a comprehensive business plan. While most entrepreneurs chalk out a proper business plan, not many take care to promote their businesses sufficiently. Appropriate promotion of business is a must to ensure good turnover.

New Business Set Up: A Successful Plan
Any financial institution or bank will demand a detailed business plan in black and white, before extending financial support to a new business set up. Every small, medium and large scale company must also create a financial budget for the approaching year. The lack of a comprehensive and clear plan is an indication of a lack of foresight, which may even prevent a bank from sanctioning loans to an entrepreneur.

A well-structured business plan must contain:

• The business purpose
• A short synopsis of the organizational setup divided into sections, such as sales and marketing, production, purchasing, personnel and finance.
• Details of the start up and a mention of the clauses that help achieve company objectives.

The process of preparing a business plan is crucial. If the business is established after thorough research and deliberation, it will suffer only fewer setbacks and be more successful.

New Business Set Up: Importance of Promotion
Whatever your kind of business set up, it is vital that you embark on strategic marketing campaigns. That is the only way of informing your target audience about your presence. You can also promote your business by distributing business cards, brochures, catalogues or via posting articles on the Internet.

However, the most successful promotional campaign is designed to cater to the target audience. You have to be clear about:

• Your target customer’s needs
• Ways of customizing your campaign to attract them
• Methods of allocating the product at the earliest

In this competition-ridden world, it is important that these three criteria be considered and fulfilled. Perhaps, a sample survey or a trail group can help you to achieve this. A new business set up can hire professional company formation agencies to achieve this goal. If you too want assistance in structuring or promoting your business or company set up, visit www.companyformations247.co.uk.

Choosing a Company Name in UK

Choosing a company name is one of the first steps in starting your own business. Different countries have different regulating agencies responsible for registering companies. In the UK, for instance, once you choose the name for your business or company, you must register it with the Companies House.

Since the success of your business also depends on the name of your company, special care must be taken while selecting one. A well-chosen name allows for easy registration and helps create a strong brand identity.

Choosing a Company Name for Easy Registration
While choosing a company name, ensure the following points for easy registration:

• The Companies House in the UK maintains an index of registered companies in England, Wales, Scotland or Northern Ireland. After choosing a name for your company, enquire with the Companies House either on phone or on the Internet about the name availability. If the name already exists, search and choose another name.
• There are some restricted terms that signify government institutions or agencies. Avoid using these terms, which include British, national, international, government and institution. Ensure before registration that your chosen name pertains to these guidelines, to avoid problems or difficulty at later stages due to name rejection.
• The Intellectual Property Office maintains a Trade Marks Register. Refer to this list to find out if your business name conflicts with any of the existing registered trademarks.

Choosing a Company Name for a Strong Brand
Your company name can ensure a robust brand identity for your business, if you:

• Choose a name that reflects the nature of your business. For instance, if you are in a business that provides a particular service, your business name must generate the image of that service in the listeners’ minds. You can use your creativity to find some catchy names and phrases for your company. Researching on the Internet can also help you find a suitable name for your company.
• Try to choose a name with visual connotations. Such visual connotations increase the recall value of your business name, thus creating a strong brand identity. A strong brand identity, in turn, helps create successful businesses.

It is also a good idea to seek the help of professionals or agents in choosing a company name. These agents assist you in all matters related to company formation and registration. Company Formations 247 is a trusted UK-based agent well-known for providing necessary assistance in registering new businesses.

Steps to Register a Business in UK

Entrepreneurs can register a business in UK to start their own companies. However, to start a company, they must be aware of the laws of the land, the Companies Acts and the specifications of the Companies House.

Steps to Register a Business in UK
Entrepreneurs can do the following to register a business in UK:

• Decide the structure of your business. There are various types of companies, such as private company limited by guarantees, private company limited by shares, private limited company and private unlimited company. Each type will require a different licensing formality.
• Based on your business objectives, decide which type to choose. The registration process, regulatory approvals and tax liability of your company depends on the type of company you choose.
• Choose a suitable name for your company reflecting your business objects.
• Prepare the memorandum of association, articles of association. Fill in Forms 10 and 12, and appoint the secretary and directors of the company.
• Submit all these documents to the Companies House in proper order. You can do your filing either manually or electronically. Electronic filing is preferred these days due to the ease and expediency

Register a Business in UK: Role of the Companies House
The Companies House is the official agency in the UK authorised to register a business. It maintains records of all types of companies existing in the UK. It issues revised specifications from time to time, regarding new company formation. Entrepreneurs must keep themselves updated about these for quick establishment of their businesses.

Although you can complete the registration formalities yourself, seeking professional help reduces the processing time and makes the process smooth. Since registering a company in UK also involves other issues, like deciding the right company structure, an error might lead to delay in company registration and business losses. For finding a reliable company formation agent, refer to the authorized agents list released by the Companies House.

A reputed agent to contact for registering a company in UK is Company Formations 24.7. Their professional assistance helps you to register a business in UK in no time. The agent also provides you a host of other services, including the appointment of directors, secretary and shareholders for registration purposes. Once the process is complete, you get an instant email confirmation. You can also opt for obtaining the electronic copies of the certificate of incorporation and the Memorandum of Association and Articles of Association.

Setup a Company in UK: Important Facts

Over the years, the United Kingdom has emerged as a business hub in the world due to its stable political conditions and consistent economic expansion. The transparent, open, and business-friendly environment of the UK is highly conducive to industrial growth. In September 2009 alone, a total of 32,270 companies were formed in England, Wales and Scotland. More than 2.6 million companies operate in the entire region. Hence, to ensure the best rewards for your hard work, setup a company in UK by fulfilling the simple and convenient legal formalities in the country.

Setup a Company in UK: The Requisite Steps
Here are some essential steps to setup a company in UK:

• Decide the organizational structure of your proposed business.
• Choose an appropriate and, if possible, unique name for your company.
• Check the availability of the proposed name at the company formation regulatory agencies.
• After finalizing the company name, find a location for your company’s registered office.
• Formulate the objectives of the company, and the Memorandum and Articles of Association.
• Appoint the secretary and directors of the company.
• File form numbers 10 and 12.
• Submit all documents with the registration fee, as applicable.

Setup a Company in UK: Conventional versus Electronic Method
There are two methods of applying to setup a company in UK. These are:

• Conventional method – This necessitates the filling of forms and documents on paper, which is then submitted to the Companies House.
• Electronic filing – This is the more popular of the two, since it involves electronic filling of forms and submission to the Companies House. In fact, the new company is set up in a single day.

Setup a Company in UK: Popularity of the Electronic Method
The electronic filing method pronounces a convenient and quick way of establishing a company in the country. In this case, you do not need to submit Form 10. Also, all documents and forms are submitted in a digital format. The Companies House, responsible for company registration and record maintenance, authorizes several agents to aid new companies in filing for registration. This saves considerable amount of effort and time for company owners.

Company formation agents authorized by the Companies House provide several services related to the establishment of a company. For instance, they provide assistance in filing documents, in deciding organizational structure and company name and type, and suggesting promotional strategies. A reputed agent in the UK that provides all these services and more at reasonable prices is Company Formations 247. Visit the site and know more to benefit more.

Formalities in Limited Company Registration

Not for no reason has the United Kingdom become the nucleus of business activities, with more that 2.6 million companies operating in the region as of October 2009. The country’s stable political and economic status, along with the convenient administrative procedures, makes the UK an ideal place to start a company. All company formations are looked into by the Companies House. For a limited company registration, entrepreneurs have to provide the requisite information and documents to the Companies House.

Limited Company Registration: Memorandum of Association
Every limited company registration requires the submission of the Memorandum of Association, along with the registration forms. The Memorandum is a crucial requirement, failing to submit which in the right format can lead to the company registration being declined. Some essentials that must be stated in the Memorandum are:

‘Limited’ - The Company’s name with ‘limited’ or ‘Ltd’ as the last word. This last word cannot be dispensed with unless specific exemption has been obtained. Such a dispensation can only be obtained on grounds that:

• The company is being formed for the objects specified
• The liability of the members or shareholders is unlimited

Before registering a company, a name check must be carried out to make sure that the proposed company name is suitable, not offensive and not similar to any existing name.

Location of the company - The memorandum has to state the location of the registered company office (whether it is in England, Wales or Scotland.) The official documents, such as the Companies House communications, notices, summons and writs, arrive in the registered office of the company.

Company objectives - The company objectives must be stated with clarity in the Memorandum. This section comprises:

• A main objects clause
• A number of clauses governing the company activities

The objects clause should include all the possible activities that a company may engage in to achieve its objectives.

Subscription of initial members – This document must contain a clause dealing with the subscription of the initial company members. This clause must state:

• The name of each member
• Their addresses
• Other details

Private limited company registration requires the presence of two members and a statement of the number of shares of each subscriber. Also, each subscriber has to sign the document under their allocated shares. The signatures of subscribers must be witnessed by a third party.

You can easily fulfill all formalities involved in a limited company registration with the aid of a professional company formation agency. To consult the experts in the industry, visit www.companyformations247.co.uk.

How to Register a Business in UK

To register a business you need to first decide the location where you want to trade. For instance, if you want to trade in the UK, you must register your company name with the Companies House. This agency is the legal entity in UK that oversees all aspects of company formations. Some documents that you require to register a business in the UK are the certified copies of your business documents and the registration fee.

Steps to Register a Business in the UK
Before you register a business, choose the business structure and organization. You can choose from among public limited companies, private limited companies or private unlimited companies. A private limited company is also of two types: those limited by shares and those limited by guarantee.

The next step is to register the name of your company. For registering your company name, you need to fill up forms that are downloaded from the website of the Companies House. For registering the address of your business, you must fill out Form 691.

The registration form should be mailed to the given address with a fee of £10. If you wish to operate your business in England and Wales, mail to the Registrar at Companies House, Cardiff. If you want to conduct your business in Scotland, mail to the Registrar at Companies House, Edinburgh.

How to Register a Business: Tips on Choosing Company Name
Choosing a company name is one of the first requirements of registering a business. Here are some tips to help you in the company name selection:

• The Companies House maintains an index of existent company names. Once you choose a name for your company, check in the index whether the name already exists. If it does, choose another name for your business.
• The proposed name must not include certain restricted terms, such as British, government, national, international and institution. Choose a legal name that is easily approved by the Companies House.
• The Intellectual Property Office also maintains a Trade Marks Register that contains a list of registered trademarks. Consult this to avoid any conflict with the existing trademarks.

To register a business in the UK, you can seek the specialised services of company formation agents. Company Formations 247 is a well-known agent in the UK who can help you in selecting a suitable name and office address, and register your company quickly and effectively.

A Guide to Start a Limited Liability Partnership in the UK

The UK business environment offers a variety of company formation options, which include public or private limited companies, companies limited by shares or guarantee, or a Limited Liability Partnership (LLP). It is the flexibility provided by an LLP that makes these the most preferred option for big firms, such as accounting and solicitor firms.

The legal framework of this type of business structure was created by the Limited Liability Partnership Act 2000. The main purpose of designing this business structure was to protect big professional partnerships, such as law and accountancy firms, from negligence actions. Like other business structures, an LLP in the UK is also regulated by the Companies Act 2006.

The only difference is that the structure of management in this case is fixed by the partnership agreement. One of the benefits of such company structure is that loans can be availed at floating rates.

The Companies Act 2006 has been formed after integrating all the preceding laws regulating companies in the UK. For carrying out business in the UK, these laws make for two types of business entities: partnerships and companies.

Main Provisions of the Limited Liability Partnership Act 2000
The main provision of this type of business structure is enshrined in the Limited Liability Partnership Act 2000. The Act allows the partners of the company to have liability up to a certain point. For general trading debts, the Act allows a limited liability. However, the personal liability of the partners in this structure is not limited.

In such business structures in the UK, the conduct of business is done by ‘designated members’ and the ‘members.’ The responsibility of the designated members is similar to that of a director or a secretary in a limited company. The responsibility of providing capital lies with the members. Since the working capital is provided by the members, they also share the profits. In this case, the profit would reflect the partnership rather than the dividends that is paid in case of companies.

One of the requirements of a limited liability partnership is the agreement between the members of the partnership. The process of forming the partnership becomes very easy if you get professional help from specialised agents. One such agent who can help you in getting a basic LLP agreement is the Company Formations 247. The agent can offer you all help, right from providing information to the registration process.