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Your Total Guide To Business

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How to form/start a company#AskAMS

There are a number of stages to go through – and I would recommend seeing an accountant as early in the process as possible.

It may even be the case that you shouldn’t form a company straight away as many small start-ups are better off starting as sole-traders. 

But the steps are:

  • Decide on a name and check it is available with Companies House and not too similar to other businesses;
  • Decide who will be directors.You don’t need a Company Secretary but you may choose to have one;
  • Decide who will be the shareholders and what number of shares each shareholder will own. It is very common to issue 100, Ordinary £1 shares either on forming the company or very soon afterwards. Again, an accountant might be useful for the tax implications; More information about issuing shares for your new company can be found here.
  • Consider whether you really want your home address visible on Companies House. This can be avoided if you have an accountant who lets you use their address;
  • Find a formation agent on the internet and pay for the company to be formed. Typically this will cost £20-£25;
  • Take the two formation documents that the formation agent sends/emails you – the Certificate of Incorporation and the Articles of Association - to your bank (together with ID) to open a bank account;
  • If you haven’t already done so, see an accountant to talk about bookkeeping, payroll, VAT, management accounts, tax planning etc. – and think about issues like funding the business. insurance, employment contracts and how to buy any vehicles or equipment that you need.

Find out more via

AMS Accountancy Swindon and Wiltshire

AMS Accountancy Ltd

AMS Accountants in Swindon provide a complete accountancy service for small businesses in Wiltshire and a monthly accountancy service for contractors throughout the UK.

Delta 606, Welton Road, Swindon, SN5 7XF

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