Setting up a limited company: The information you now need to provide

In line with the government's recent Small Business, Enterprise and Employment Act update, the information you require to form a private company limited by shares (the most popular company structure in the UK) has changed. Here’s a list of the information you’ll need to provide to Companies House, or a formation agent, when you start a company.

Here's what you need when you set up a limited company, and what goes on the public register:

1. 1. Unique company name

Don't forget to check these company naming considerations first!

1. 1. Registered office

This is the official address for the company and must be based in the UK. However, the company need not trade from or even have anyone based at the address, as long as government mail is forwarded onto the company directors.

1. 1. Director name(s)

The person or people tasked with running the company are its directors. A company must have at least one person acting as the director. The following information is needed when appointing a director:

1. 1. • Name
      • Date of birth (the month and year is on the public register; the day is not)
      • Nationality
      • Occupation
      • Country of residence
      • Service address (similar to the Registered Office, this is the director’s ‘official’ address

Residential address is not on the public register unless the address is also being used as the service address.

Note: corporate directors
Whilst a company can’t be a director of itself, another company can be appointed as a director (as long as at least one person has been appointed too). The following is required when appointing a corporate director:

1. 1. • Company name
      • Authorising person’s name
      • Address
      • EEA / Non EEA
      • Country registered
      • Registration number
      • Governing law
      • Legal form

   2. Shareholder name(s)

The person or people who own the company are its shareholders. A company limited by shares can be formed with one person acting as both the director and the shareholder. To appoint a shareholder you will need the:

1. 1. • Name
      • Address
      • Allotment of shares

Note: corporate shareholders
A company can’t be a shareholder of itself but another company can be a shareholder. When appointing a corporate shareholder you will need the:

1. 1. • • Company name
        • Authorising person’s name
        • Address
        • Allotment of shares

   2. Standard Industry Classification Code (SIC)

A SIC code is a five-digit number that outlines the industry that the company will be working in. You can view a list of these codes here. Not sure what industry you’ll be working in yet? Simply use the code 82990 (other business support service activities). You can update this code when filing a confirmation statement.

1. 1. People with Significant Control

This has been introduced as part of the Small Business, Enterprise and Employment Act 2015. The aim is to increase transparency in businesses by showing who really own and runs a company. According to the government, a person with significant control is anyone who:

● owns more than 25% of the company’s shares
● holds more than 25% of the company’s voting rights
● holds the right to appoint or remove the majority of directors
● has the right to, or actually exercises significant influence or control
● holds the right to exercise or actually exercises significant control over a trust or company that meets one of the first four conditions.

For each person with significant control you will need to document their name, date of birth, nationality, occupation, country of residence and service address (residential address is not on the public register unless the address is also being used as the service address). You will also need to document the nature of control.

Note: Company secretary
This is now an optional appointment. Traditionally the role was taken by the person who would be responsible for various admin tasks. If you do decide to appoint a secretary you will need to document their name and their service address.

1. 1. Memorandum & Articles

This is the set of documents that outline how your company will be run. If you decide to form your company with a formation agent, they can provide you with Memorandum & Articles that suit the majority of companies.

And there you have it, all the information you now need to form a private company limited by shares.

Are you ready to start your own business adventure? Company Formation MadeSimple have helped start over 500,000 UK limited companies with a quick and simple online system. Take a look if you want to set up your company today.