Here are a couple of important steps you consider when setting up a company in UK. Following these steps will make the registration process easier.
Pick the best type of the company
When setting up a company in UK, you should decide whether to form a Private Limited Company or a Public Limited Company. However, when setting up a company in UK as a PLC, there are some specific requirements to meet; you should have at least £50,000 as the minimum capital, minimum of two shareholders, a secretary and two directors. Therefore, LTDs are popular than PLCs when it comes to setting up a company in UK.
Implementing company incorporation
Basically, setting up a company in UK is an easy process if you follow the instructions correctly. As a matter of fact, you can set up a limited company even through online (thanks to the modern day technology). More importantly, it will not cost much. However, some people still prefer to go with a company formation agent in order to make things even easier and reduce the potential clashes.
When you incorporate a company, you must communicate with the Companies House. There are several documents to be prepared and submitted to the Companies House to get the incorporation done successfully. Usually, these documents are handled by a qualified accountant or a company formation agent. Here are some of the documents associated with this process.
MOA (Memorandum of Association): This includes fundamental information like the company name, the type of the business and its location. Then, there is Form 10, which includes the name of the directors and the officially registered address. In addition to that, there are a couple of other documents such as AoA (Articles of Association) and Form 12 to fill and submit when setting up a company in UK.