Mistakes You Must Avoid while UK Business Registry
Nowadays, registering a limited company in the UK has become very simple and straightforward. Gone are the days when an owner had to wait for several weeks for the registration approval and further process. UK business registry can be done easily online without any guidance as it has become easier than ever to set a company in the UK. Although it is an exciting and easy process, but most of the people make common mistakes while registration.
Here are the common mistakes you must avoid for the successful UK business registry:
- Avoid type errors: Spelling mistake in company name and company’s directors or shareholders name is a big mistake. So before submitting your application form ensure that the information and spellings you’ve added in the form are complete and correctly spelled.
- Formation of the incorrect company: When it comes to selecting your company type, go through all company types (company limited by shares, a company limited by guarantee, an LLP, and more ) and select a relevant one. Don’t just pick any company type just because it is sounding great.
- Unsuitable company name: Make sure the words you’re using in your company name are not restricted or sensitive. Such types of words are restricted by the Companies House. If you use them as your company name, the chances of your application rejection go higher. Avoid this mistake as much as you can.
- Wrong registered business address: In the UK, every company has an effective office address. Don’t mention a PO Box address as your registered office address. It can be rejected by the Companies House.
- Too many directors: All shareholders of a company can’t be its directors. The directors should be specified and aware of their roles and responsibilities in the company.
- Too many shareholders: Similarly, all the directors of a company can’t be its shareholders or owner. A shareholder holds a percentage of shares in the company with specific rights. Choose your company’s shareholders carefully.
- Improper Articles of Association: This is the list of rules and regulations for the company’s directors, shareholders, and secretaries to manage the organisation. Don’t forget to attach a copy of articles of association within your application form. Describe clearly which articles you’re using in your company formation application.
- No detail about the business: This is another point people mostly forget about. They don’t mention the detail about they businesses like what their business do, etc. Don’t miss this step. It doesn’t mean you’ve to describe the complete business structure. Just add the basic information about your business
These are some of the mistakes people usually make during their business registration in the Companies House. Check all the details properly before submission. Take out some of your time to recheck the information and save a lot of your time for the future. Avoid all such mistakes and make your UK business registry more smooth and convenient!