There is no way that you can reserve a company name without forming a limited company under that name. Let’s take a look at a few steps to take during your planning stages that may help you to put some measures in place to secure the best possible trading name for your new company.
Can I set up a limited company while employed UK?
Understand your employment contract Whilst there are no legal limitations preventing you from starting a business while under a full time employer, your employment contract may have particular disclosures written into it that you need to be aware of.
How to set up a limited company in the UK?
How to set up a limited company, appoint directors and shareholders or guarantors, and register for tax. Check if setting up a limited company is right for you. Choose a name. Choose directors and a company secretary. Decide who the shareholders or guarantors are. Identify people with significant control (PSC) over your company.
Why do I want to own a limited company?
Selling up – once you’ve made your cheeky million you have the option to sell the company if desired. Own multiple businesses – you can own multiple limited companies, allowing separate business ventures to remain separate. Credibility – the second most important reason I chose the limited route.
When do you need a limited by guarantee?
Limited by guarantee – often used to register companies that are not for profit, such as charities, sports or social clubs. Company guarantors do not own shares of the business and usually do not withdraw any profits made. When setting up, guarantors will pay a sum towards any future debts the company may have.
Who are the directors of a limited company?
To form a limited company, Companies House requires that at least one director is appointed. You can have multiple directors with varying or equal share ownership, and you can also appoint a company secretary to relieve the directors of some responsibilities. Bear in mind the following for each role when setting up:
