Registering a business or company in the United Kingdom is
not as complicated as many think. Business proprietors have several
responsibilities they need to fulfil to avoid possible problems with
authorities in the future. I've been through this process once and I find it effective.
1.
Registering your Business
You could manually register your business with the HMRC and
other regulating bodies or you could have a registering company do this for
you. Some businesses even offer online alternatives to registering the name and
industry of your business. You’ll need a registered office address, director
details and shareholder details (if any).
2.
Business Proper
All companies must have at least one director or registered
proprietor who will also serve as the sole shareholder. The business must also
have a registered business bank account that includes a certificate of
incorporation, confirmation of shareholdings at incorporation and proof of ID
for company officers. IDs needed are usually legal ones, even recent utility
bills.
3.
Trading
Entity
The registered business name will also reflect the kind of
trading entity the business is. Trading entities are commonly classified as
Sole Traders, Partnerships, Limited Liability Partnerships or PLCs. The company
name must avoid vulgarity and should reflect the intended trade that the
trading entity extension implies.
4.
Shareholding
For every co-founder, a share is given. You could create a
share for every co-founder in the company. Here is a better guide for handling
company shareholding.
