5 Steps to Register Your Company in UK Instantly

The United Kingdom is one of the wealthiest nations in the world. The country credits its vibrant economy mainly to the combination of a thriving manufacturing sector, a lucrative real estate market, and a stable political environment. No wonder thousands of investors from all corners of the globe prefer to set up their business ventures here.

Recent statistics indicate about 5.56 million private businesses in the UK in 2023.

But as with any country, entrepreneurs have several challenges trying to set up their ventures in the UK. These range from sourcing startup capital to registering their companies and everything in between.

In this article, we shall focus on the procedure involved in registering your company in the UK.

1. Choose a Company Structure

Companies fall into various categories depending on their management structures.

Operating a sole proprietorship is arguably the easiest way to register a company in UK instantly. That’s for the simple reason that such businesses are individually owned. So, there’s less paperwork involved in getting registered.

You could also register your company as a partnership. The most outstanding benefit of partnerships is loss sharing. But unlike sole proprietorships, partners also get to share profits depending on their stake in the company.

Other famous company structures include limited liability companies (LLCs) and corporations. LLCs are the most preferable company structure in terms of managerial privileges and tax obligations.

For instance, a private company limited by shares allows its director to draw some of their income from the dividends, potentially lowering their taxable earnings. Besides, LLC directors typically don’t need to worry about having their assets sold or repossessed if the company runs into financial headwinds. 

2. Register a Company Name

It’s great to know that many entrepreneurs exercise due diligence while choosing appropriate names for their businesses. However, only a few care to research if a name has already been taken before adopting it for their company.

After identifying what appears to be a befitting name for your business, determine if it’s available or taken. The easiest way to do that is to research your competitors’ names.

It’s imprudent to pick a name similar to that of your competitors, even if that name isn’t necessarily trademarked. Avoid tweaked variations, as they portray your brand as a counterfeit of an already established company.

Another important tip is to pick a meaningful name that resonates with your offerings. It would make no sense to settle for a word with medical connotations if your brand primarily targets home renovation clients.

Experts also recommend keeping the name short and sweet. If the word is hard enough for you to spell, then you can only imagine the impression it will have on your target audience. 

3. Put Together Your Company Information

Registering your company means authorizing the government to make your information publicly available. So, it’s imperative to provide accurate details.

First, you must provide a registered physical address for your business. This is the address that the UK’s company registrar - Companies House - and the national tax body – His/Her Majesty’s Revenue and Customs (HMRC) - will use for all email correspondences with your company.

Note that the selected address must be in the United Kingdom. It must also be accessible to all company directors, which brings us to the next category of information required for company registration in the UK.

The Companies House will only process registration applications that indicate at least one director. Be sure to provide the director’s biographical information, such as their name, date of birth, and physical residential address.

Lastly, provide shareholder information. You must specify at least one shareholder to be registered. Fortunately, Companies House allows a director to double as a shareholder.

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4. Complete an MoA and AoA

A memorandum of association (MoA) and an article of association (AoA) are crucial documents that formalize how your company will be managed.

A memorandum of association defines a company’s scope and limitations.

The document spells out how your business relates to its members and the rights of such members. It also underscores the vision and objectives of your company.

On the other hand, an article of association defines your company’s management structure. The document lays down the administration rules from top managers to rank-and-file employees.

All significant stakeholders - directors, shareholders, and the company secretary- must sign your MoA and AoA.

5. Submit Your Application

If everything looks great, submit your application to the Companies House. It will cost you £40 for paper submissions by post and £10 for digital submissions.

Postal applications can take anywhere from eight to ten days. But sometimes, you could have your applications processed in one business day. Online submissions take between three and five business days.

There’s also the provision of same-day online registrations.

Same-day services cost £30 and typically take two hours to process.

To have your company registration application processed within the same day, you must place your order on a normal working day (Monday - Friday). Be sure to also submit the request by 3:00 pm UK time.

Wrap Up

Registering a company in the United Kingdom is the first step in unlocking the country’s immense growth opportunities. It’s great that the Companies House is committed to providing prompt and affordable services to entrepreneurs seeking to register their businesses in the UK.