If you're looking to register a business name, there's no better place than the Companies House website. It's free to use and allows you to search for names by category, type, and location. Once you find a suitable name, you'll need to fill out an application form and pay a fee.
After you've registered with Companies House, you'll receive an employer's number (EIN) via email. This will allow you to open a bank account and set up a payroll system.
Once you've received your EIN, you'll need to open a bank account. If you're using a personal account, you'll need to provide proof of ID such as a passport or driving licence. If you're using an existing business account, you'll need the name of the company and its address.
It's important to note that corporation tax isn't charged until profits are made. This means that when you set up a new company, you won't pay any corporation tax at first. However, once you make a profit, you will be liable for corporation tax.
If you're planning on starting a business, then you'll need to register with HMRC (the government department responsible for collecting taxes) as soon as possible. This is because you'll need to apply for a VAT number before you can begin trading.
It's important to note that not all businesses need to be VAT registered. Reach out to us fo r assistance with a Limited Company Formation and for understanding whether or not you need to be VAT registered.
We have helped many clients set up their UK Limited Company and continue to do so until this day. One reason why many people reach out when they want to start a business is that we make the Limited Company Registration a simple and hassle-free process.
Reach out now for assistance in setting up your Limited Company in the UK by clicking on the Contact us button at the bottom of this article.
