Registering company name without starting a company for trading?
- November 27, 2011 at 2:47 pm #19232
I have over the past months been building a website from with the intention of trading from in the near future is it possible to register a company name with out actually setting up a full company yet and all the registration/tax returns ect. that go with it if you are not actually trading yet.
[url]http://lurepro.co.uk[/url]November 28, 2011 at 10:03 am #70420
You can form a company and make it dormant but its a fairly pointless thing to do. You still have to file dormant accounts and make limited returns and you get er, no cant think of a single thing of benefit to you apart from potentially being able to fool someone that you have been around a few months longer than you have.
Quick look at your website suggests this is a small hobby venture completely unsuited to a limited company. Sole trader is probably what you want.
James Smith [i]Chartered Accountant[/i] www.jamesesmith.co.uk--------------------------- Your indispensable guide to Small Business Bookkeeping, Self-Assessment & VATDecember 7, 2011 at 10:19 pm #70506
Many Thanks for the reply yes this was a first edition website and I suppose you could look at it as a hobby venture but looked as it a way to see how things initally worked before jumping in deeper. If registered as a sole trader how would this effect my full time job as the idea was to build the website up whilst still working full time until such point it became full time or was a supplemement income
[url]http://lurepro.co.uk[/url]December 8, 2011 at 9:45 am #70507
"how would this affect my ful time job"?
Not at all.
You just need to fill in a personal tax return if you make a profit. You dont even need to tell HMRC for now, they only get interested if there is a profit to tax!
Just keep it as simple as you can for now.
James Smith [i]Chartered Accountant[/i] www.jamesesmith.co.uk--------------------------- Your indispensable guide to Small Business Bookkeeping, Self-Assessment & VATDecember 21, 2011 at 4:34 pm #70589
Actually I was thinking of doing exactly this just to 'claim' the name for future use so that no-one else can use it. I don't want to become a fully fledged company yet, partly as the Companies House procedures I find frustratingly long-winded, so I'd like your thoughts on what benefits registration would have over my current sole-trader status.
PS I haven't fathomed putting links in here yet so I'd like to know how to do that too!
http://www.thermalblind.co.uk we make thermal roman blinds - cosy!January 2, 2012 at 1:50 pm #70629
Excellent advice from James.
In my college days, I probably naively set up a dormant company for my business and it has been of no benefit whatsoever. I even cashed checks and received payment in my own personal account as the work I did and amounts I received were nominal.
I'd recommend either continuing as a side project or hobby for the time being. If you are putting more time into it or taking more seriously, sole trader status would be a good choice.