If you plan to register your new business as a limited company with Companies House in 2023 or beyond then it is essential that you do so correctly. Any errors that you make in registering your company can cause a range of problems, including non-compliance with industry regulations, accounting complications, personal financial liability, an inability to leverage the tax advantages of a limited company and difficulty in attracting investment.
By seeking professional help from a specialist in company formation, you can avoid all of these problems and benefit from the many advantages of a limited company from day one.
A Brief Overview of Companies House: The Official Gateway
Companies House is an executive body of the British Government responsible for the incorporation and dissolution of all types of company in the UK and maintaining the official register of companies.
Understandably, many people who embark upon the journey of company registration believe that the only route for incorporation is directly through Companies House. However, this is not the case.
In addition to offering a broad range of business services, company formation agents such as Uniwide Formations can manage the complete process of company registration on your behalf. By acting as an intermediary between you and Companies House, we will make sure that your incorporation is completed correctly, allowing you to focus on running your business.
Why Companies House Is Not Always the Best Route
For many business people who wish to set up a new limited company, doing this directly through Companies House may not be the best route.
Although Companies House provide an online portal for company registration, users are not assisted and guided through the process. For this reason it is common for those registering a company to make mistakes such as ticking the wrong box, using the wrong address, selecting the wrong company type and entering the wrong shareholding – to give just a few examples.
Because Companies House do not know the background of the company they may register the company but with the wrong details. Otherwise they may reject the application, leaving the applicant unsure of the reason why or of how to remedy the matter. Furthermore, Companies House do not provide other useful business services which limited companies may require as time goes on (please see below for further information about such services, which may be provided by a company formation agent).
Ultimately, business people want peace of mind in knowing that their business administration and filing compliance matters will be taken care of correctly. This is precisely what company formation specialists provide.
The Comprehensive Benefits of Using Uniwide Formations
By engaging with Uniwide Formations you will have a business partner whom you can trust, not only when you set up your company but also throughout your business journey. We offer a range of company formation and business services to make sure that you have the support and expertise which you need at every stage, including :
- A range of company formation packages to suit your needs and budget, including our “basic”, “proxy”, “privacy”, “advanced”, “limited by guarantee”, “LLP”, “premium”, and “non-resident” packages.
- Additional company formation services such as company name check and same-day company formation services.
- Lots of information and guidance to help you, including how to choose the most suitable business structure for your needs.
- A range of useful business services including:
- Address services – Registered Address, Service Address, and Business Postal Address. This ensures that your business maintains a professional presence and avoids revealing your personal address.
- VAT registration – we make registering for VAT easy
- PAYE registration – we also make it easy to register for PAYE
- Business bank account introductions
- Accountants introductions
- Confirmation statement filing – we make the process of filing your confirmation statement as efficient as possible, ensuring your ongoing legal compliance
- Dormant company accounts filing
- Company name change filing
- Filing of changes to your company directors
- Share services – including transfer of shares and issuing of new shares, and
- Certificate of good standing filing
We will grant you access to your own dedicated Uniwide Formations online portal, through which you can access our services quickly and easily. Because we already know you, your business needs and your legal obligations, we will also prompt you to take action when needed, thereby ensuring that you remain compliant with the law at all times.
Cost Comparison: Better Value than Companies House
Many people are surprised to hear that, when actually registering a new company, there is little or no difference in cost between Companies House and a company formation specialist such as Uniwide Formations – especially considering the great range of additional services that we provide.
For example, the cost of registering a company directly through Companies House is currently £12. The Basic Company Formation package from Uniwide Formations, however, is also cost-effective at just £14.99 + VAT.
In addition, Uniwide offers also some more comprehensive packages for little extra real cost. The premium options within these packages include helpful extras such as registering various types of business addresses, helping with VAT and PAYE registration and many further options including an introduction to accountants and helping you to set up a business bank account. The quite reasonable extra outlay for one of these packages and these extras is nearly always worthwhile for business owners who want a comprehensive solution to handle their company’s administrative, accounting and legal needs – to name just a few.
Choosing the Right Type of Company: What Companies House Will Not Tell You
Another key reason to engage a company formation specialist when registering your company is to make sure that you choose the right type of company.
All businesses in the UK must choose a suitable legal structure either as a sole trader, as a limited company or as a partnership. It is important to bear in mind that Companies House does not offer you tailored advice on selecting the right type of company structure. All that they will do is register the type of company that you select, even if this is incorrect or even completely unsuitable for your business needs.
Uniwide Formations, on the other hand, provides you with guidance and detailed information – even including videos – on the range of business structures available and which you should choose for your individual circumstances.
Company Secretarial Support: What Companies House Does Not Provide
To ensure your company’s ongoing legal compliance, the support of an experienced business secretary who can handle your filing and administration needs is essential. Again, Companies House does not offer ongoing secretarial support: Their role is only very basic – simply to process and register whatever forms are filed with them. This is where a company specialist such as Uniwide Formations comes in.
Not only can Uniwide Formations handle the registration of your company but we can also assist with many of the tasks handled by a company secretary, including the accurate and timely filing of:
- Company changes, e.g. to the directors, shareholdings, company name, company structure, SIC codes etc.
- Confirmation statements, and
- Dormant company accounts
Our online portal makes the handling of secretarial and administrative tasks as easy as possible and ensures that these are completed within the deadlines set by Companies House.
Registered Office Address Services: An Overlooked Advantage
Further important provisions that are not available from Companies House but are provided by Uniwide Formations are our three different and separate address services, as follows:
A registered office address is your company’s official address through which all official paper correspondence is conducted by government agencies (such as Companies House, HMRC, The Pensions Regulator, the Information Commissioner’s Office, the Office for National Statistics etc). This is a mandatory legal requirement for all companies in the UK. Because this is placed on the public record, many business owners prefer not to use their private residential address as their company’s registered address.
Uniwide Formations therefore offers the use of its own prestigious address in Kensington, London W8, as your company’s registered address. We will then receive all official government post for your company here on your behalf then scan and e-mail it all to you that same day – all of this included within this address service’s single fee for the whole year. Crucially, this will ensure that your home address will not be shown on the publicly accessible record (especially if you have also our Service Address service, which covers all such post sent by government departments instead to you as a director of your company).
Setting up a Business Bank Account: The Extra Mile
Many business owners simply do not have the time to set up a new business bank account. Companies House do not provide any form of guidance or support on setting up a business bank account. Uniwide Formations, on the other hand, offers a bank account service for both UK and non-UK residents. This saves considerable time and removes the complexity of opening a bank account in the UK, regardless of location.
Through your online portal you can select from a range of banking and financial services providers including Barclays, Mettle, Tide, Cashplus, Counting Up and Anna. Once you have chosen with whom you would like to bank, we will send that bank your details through a secure channel as soon as your company is registered. The bank will then call you for a phone interview or to arrange a time for you to meet your bank business manager and open your account.
Conclusion: Uniwide Formations vs. Companies House — A Clear Choice
Using a dedicated company formation specialist such as Uniwide Formations offers many distinct advantages over dealing directly with Companies House. In addition to providing a comprehensive and cost-effective solution for company incorporation, Uniwide Formations offers a wide range of further business services that make meeting your ongoing filing and compliance obligations as easy and efficient as possible. By choosing Uniwide Formations you can relax in the knowledge that you have a trusted business partner who is always ready and able to support you throughout your business journey.