For anybody who’s looking to start a business in the United Kingdom, it can be important to learn a little more about what the process involves and what is needed. From fees to documentation and any other requirements, as well as obstacles that could get in your way, there are likely to be a few things that you’ll want to know before you try to register a company in the UK.
Can foreigners register a company in the UK?
Luckily for those who want to start a company in the United Kingdom, even if they’re not UK citizens, it’s generally not too hard to do. In fact, you don’t even need to be living in the UK to be able to register a company here. For the most part, the only requirement is that the business needs to be registered to a UK address. Other than that, you’ll be able to start a business here regardless of your nationality, residency, or location – providing an opportunity for practically anyone to register a company in the UK.
How to register a company name
For the most part, registering a company name won’t need to be too complex; although there are some steps that you’ll want to keep in mind before you make a start.
Before anything else, we’d advise you to choose your company name carefully. Even if you’ve already got a name, you need to check that it hasn’t been taken. Fortunately, there are online tools that can help you to check the availability of the one you’d like to have.
Other aspects, like your company address and assigning a director, should generally be taken care of before going ahead with registration. It simply helps the process to move along smoothly if you have everything else ready and taken care of first. Aside from this, you’ll often have to pay the company formation fee – which we’ll take a closer look at later on.
How to register with Companies House
Depending on the legal structure of your business, you may need to register with Companies House. Particularly, those setting up a limited company or LLP (limited liability partnership) will usually need to apply with Companies House.
The process is generally pretty simple; all you’ll need to do to register is provide the required information on your business (such as name, address, etc.), fill in the form, follow their steps and you should be good to go.
Can I use my home address as my registered office?
As long as your home address is located within the same jurisdiction as your business in the UK, you shouldn’t have any issues registering your home as your office. It’s important to note that this isn’t always a good idea, so be sure to consider whether or not this is really the best thing for you and your company.
How much does it cost to register a company?
Starting a company is rarely a cheap venture – and registration is just one of the many aspects of the process that can come with a price. On the plus side, it doesn’t have to be too much of an expense, especially if you know where to go.
Of course, the costs can vary depending on different needs. Those who don’t want to include limited in their name will generally need to pay a little more, especially if they want the registration to be finished the same day. This could end up costing extra as much as £50, so while it’s more expensive, it’s still a fairly accessible option for those who want it.
It’s also worth noting that whatever it is you need, it will usually come with a higher cost if you want to register a company through the traditional route and apply on paper. In fact, there are many things that can be done for free online, from re-registration to administrative restoration. This, alongside the convenience, makes online applications the best choice for the majority of new business owners.
How long does it take to register a company?
In most cases, the amount of time that the registration process takes will vary depending on a number of factors. For many individuals, it shouldn’t be too much time – and if everything goes smoothly you could end up getting everything done without a long wait. If you run into any difficulties along the way, you may find it’ll take a little longer, but it’s generally not anything that you’ll need to worry about.
Of course, you may also want to keep in mind that the method of application plays a role in how long the process takes. Those who choose to go through Companies House and via postal applications shouldn’t take any longer than 10 days, whereas online applications can potentially be completed within a day. All this depends on your unique situation too of course, but in general, it can be a good idea to remember how the different methods can make a difference.
For those who want to get through the process with minimal hiccups and delays along the way, hiring a skilled team to work with you on your registration can be a fantastic idea.
Does my company need to be VAT registered?
While it’s not a requirement for every company in the United Kingdom to be VAT registered, those that exceed the threshold will need to make sure that they get their VAT number.
The limit is £85,000, so if your company is earning anything below this, you won’t need to apply for a Value Added Tax number just yet, but you can if you want to. For any companies earning this or more, registering is a requirement. Fortunately, it doesn’t have to be too difficult to do and in most cases can come with quite a few benefits, so it can be worth doing even for those who are below the threshold.
Register your company with Workhy
For those who want to make the process of registering a company as quick and stress-free as possible, Workhy is here to help. By letting our team of professionals takes care of the procedures for you, you’ll have peace of mind knowing that everything is handled correctly. From VAT and address registration to company establishment, we’re here to give you the assistance you need.