Business start up

Starting a new business can be exciting, rewarding and hard work. Your new business will rely on your ideas about what it should be called, what it will do, how it will work, and it is these ideas that will make it unique. If you register your new company from us, our standard company formation will provide you with the complete business start up package.

Here are some essential matters to consider for your new business start up:

Your company name or business name
Every small business start up needs a distinctive name, both to attract customers and to make sure it is not confused with any other business.

Check your company name here

This is the list of companies registered at Companies House. It does not include unregistered businesses, such as sole traders and partnerships. If the name is not on that list, you can register it as a limited company or LLP, though you also need to be careful to avoid using names that are too similar to those already registered.
For more details, read our company names page.
For further advice contact us. We are here to help.

Choosing the right business format
There are advantages to setting up your new business as a limited company, but it is not necessarily the right option. You might be better off as a sole trader, a partnership or a limited liability partnership instead. If you are unsure about this, you should seek advice. Start by reading our company choice page. If you need more help consult your accountant or solicitor or contact us.

If going into business with someone else, you really need a partnership agreement (if the business is not going to be a limited company) or a shareholders' agreement, if it is. This is a contract between the parties setting out how the business is to be run and is essential to protect the individual parties' long term interests. If your new business is the success you hope it is going to be, not having a comprehensive contract between the parties, regulating the business affairs for the future is, frankly, very unwise.

VAT registration.
You must register for VAT if your annual turnover exceeds £68,000. Full details are available on the VAT page on the HMRC website.

Accounts and tax
You must keep accounts and you really need the advice of a good accountant from the very start. The best way to find one is by personal recommendation, but both the Institute of Chartered Accountants of England and Wales and the Association of Chartered Certified Accountants provide lists of accountants.
For tax information, try the Inland Revenue's website

Other useful information

Our Company Law Club provides the most comprehensive free on-line source of company law information.

Company Law Solutions provides details of our company law services, other than company formations.

Our FAQs, where you will find a great deal of information

Business advice
A great deal of help can be obtained from Businesslink, the government's advisory body for those setting up a new business.

Companies House
has a great deal of information about companies and company law. Look for the guidance booklets (all available on-line)

The DTI
It's not called the DTI any more but BIS, previously BERR. There is a lot of information here, but it is not easy to find.

Top

Company Law website

Visit our company law website provided as a free service for Incorporation Services clients. It is the largest open source of UK company law information available on-line, including:

clearFloats