A 'company' is a legally recognised entity formed by individuals to engage in and operate a business. These may be structured and organised in different ways (depending on the nature of that business and its objectives) for different tax and liability purposes, depending on the laws of the jurisdiction it operates within.
Subsequently, there are several different kinds of companies that can be created in the UK - where each entity must be 'registered' or 'incorporated' (or 'formed') at Companies House to help ensure the business operates within UK law. How you set up your business depends on what sort of work you do and can affect the way you pay tax or even get funding.
There are four 'standard' types of company structure in the UK;
There are also a handful of more specific, 'non-standard' limited company types that can be formed in the UK with particular structures suited to entities with particular business models, namely;
If you contact the friendly experts at Murphy Thompson Moore LLP, we can advise which kind of company that you wish to register will most suit your particular needs. We've provided handy summaries below of the most usual kinds of Company we incorporate and have been forming on behalf of Clients since 1995.
Many types of company can be incorporated by using ‘standard’ requirements and procedures, which are often referred to as ‘generic’. However, some clients require a more bespoke service. This may be to have extra Share Classes, or specific clauses to be included in the Articles. There are many possibilities.
At Trusted Formations, we have many years of expertise to enable us to advise on and carry out tailored incorporations, for our clients.
Certain types of company, such as Community Interest Companies CICs (See above) have to be structured to reflect the specific activities of the company.
Sometimes a company must be structured according to more specific requirements, where it is advisable to include more detailed clauses in the Memoradum and Articles of Association (M&A’s)
Or you may need A Registered Office Address (Click for more info)
Unlike many of our competitors, we have the knowledge to do this and can help quickly and easily. We can also design a new company from scratch if necessary.
Choosing a name for your company is one of the most important decisions to make. Very few Clients would describe their choice of business name as irrelevant.
For most, it is the essence that conveys the business purpose. If prospective clients search the internet for a plumber in your town, for instance, your company name has to be what they notice.
The systems we use at Trusted Formations automatically check the company register and will show if the name you have chosen is available to be registered. Sometimes a rejected name can be tweaked, to make it acceptable, but it is always advisable for you to have an alternative in mind.
You will need approval if you want to use a name which:
An example name that Companies House would deem ‘Same as’ is:
Plum Technology Ltd would be considered the same as Plum Technology & Company Limited, but not the same as Plum Technology (Manchester) Ltd.
Adding the word ‘Manchester’ makes the name distinct.
Are there exceptions?
Yes there are. The same as rule does not apply if the new company is to be part of an existing group and/or the existing company consents to the use of the name. This consent must be in the form of a letter.
Companies House have a long list of words and expressions that cannot be used in a company name.
The list also contains examples that can be used, but only in certain circumstances.
In short, the regulations exist to ensure that the public are protected and not mislead or harmed.
We can provide you with a full list of these words and expressions. Note that the are three parts to the list, all of which should be read. Each word (or phrase) is accompanied by an explanation and guidelines for its use.
Email us for the list and advice on company names by clicking here.
Online formations since 1999.