Thinking of setting up a new business?
You must first choose a structure for your business. There are three main types of business: (1) sole trader; (2) limited company; and, (3) business partnership. You can change your business structure after you’ve started up if you find a new structure suits you better.
To set up a private limited company you need to register with Companies House. This is known as ‘incorporation’. You need:
Register for Corporation Tax
Your company will then need to register with HM Revenue and Customs (HMRC) for Corporation Tax within 3 months of starting to do business.
Registered Office Address
Your registered office address is where official communications will be sent, eg letters from Companies House and HMRC.
The address must be a physical address in the same country your company is registered in, eg a company registered in England and Wales must have a registered address in one of these two nations. You can use a PO Box but must include a physical address and postcode after the PO Box number.
Alternatively, you can use your home address. Your company address will be publicly available on the register.
Your company must have at least one director. Directors are legally responsible for running the company and making sure company accounts and reports are done properly.
A director must be 16 or over and not be disqualified from being a director.
Another company can be a director, but at least one of your company’s directors must be a person.
Directors’ names and addresses are publicly available from Companies House.