View Full Version : Everyone here who owns a business.
26-10-2006, 11:26 AM
Did you all register your companies name with companies house?
Before or after you started your business?
26-10-2006, 01:05 PM
I originally registered as a sole trader. But from 31st October I will be trading as a ltd company.
26-10-2006, 01:13 PM
And you had to pay £20 to do that yeah?
26-10-2006, 01:57 PM
Nick, there is so much more than just paying £20 to register your company name ;)
Speak to an accountant first who will advise if it's even worth setting up a LTD company...
26-10-2006, 02:23 PM
Another thing to think about with Ltd companies is it's 100 times easier to get into than it is to get out of. Red tape and regulations also increase. Do your research well before deciding to go Ltd.
26-10-2006, 03:09 PM
I've done my research, I want to register as a sole trader, it's just driving me crazy as everywhere such as startups, bizlink etc all jstu say to avoid other names and such, but they never go into the detail of what to do, they just say register with companies house. I know all about the tax, NI contributions and that, I really just cant find out about the name part, actually registering it, I'd hate to waste like literally 30 seconds of an accountants time!
26-10-2006, 03:25 PM
If you get an answer to your question it wouldn't be a waste of anyones time.
26-10-2006, 03:41 PM
Yeah but I dont want to pay for something everyone here who owns a business has already done?
It was kind of a yes/no question!!
Also, if you have/haven't, are you a sole trader / LTD?
26-10-2006, 04:01 PM
I'm a sole trader. I haven't registered anything with companies house. I think what they might mean is declaring you're running a business? Which an accountant will do for you. I would advise you to speak to one before you start. People think they cost a lot of money but 3-500 a year to start is a bargain if you ask me. They should save you more than that in time and money if they're decent. Seriously, it's a service you shouldn't overlook or neglect.
You shouldn't have to pay for advice like that. If you do you need a better accountant in my opinion.
If you don't have an accountant then you should make a list of 5 and go to see each one. They will offer 20-60 mins of their time for free as an intro. Then you choose the best one for you. During this intro time you can ask any questions you wish.
26-10-2006, 04:47 PM
If your a sole trader then the only place you need to register your business is with Inland Revenue (I think).
You can name your business what you like without registering as long it its not offensive, sensitive, and does not contain words such as 'royal, institute and so on'
This may not be TOTALLY accurate, so double check!
Hope this helps, Mon
26-10-2006, 04:51 PM
Thanks, so I dont need to register my companies name yet. I want to spend as little as possible at startup as this is a venture which hasnt eevn been tried in the UK yet so I dont know if it'll fail or not. Dont get me wrong tho, I'll push it as hard as I can with my little budget!!
26-10-2006, 04:54 PM
To register as a sole trader you just ring 08459 15 45 15
List of other things to think about wehn starting up on my webby here:
hope this helps.
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