Registering a Business

khublaikhan

Hi All,

I have recently been made redundant but have an opportunity to work as a freelancer doing some legal reports for some solicitors.

I have been asked to register at Companies House as a limited company, for no other reason than for due diligence purposes and looking more professional.

I don't mind any of this but since this is a startup I do not wish to be entangled in any lengthy bureaucracy should it not take off.

Have done some google research and it does not seem to be too complicated but I want ask a couple of questions:

1. I will be working from home initially until I can get some capital raised for premises, is this a problem for a registered company?
2. Ho w easy it is it to unentangle and deregister the business should it not take off??

Thanks

Lafuma

khublaikhan wrote: »

Hi All,

I have recently been made redundant but have an opportunity to work as a freelancer doing some legal reports for some solicitors.

I have been asked to register at Companies House as a limited company, for no other reason than for due diligence purposes and looking more professional.

I don't mind any of this but since this is a startup I do not wish to be entangled in any lengthy bureaucracy should it not take off.

Have done some google research and it does not seem to be too complicated but I want ask a couple of questions:

1. I will be working from home initially until I can get some capital raised for premises, is this a problem for a registered company?
2. Ho w easy it is it to unentangle and deregister the business should it not take off??

Thanks

In answer to your numbered questions:

1. No, assuming (a) there are no restrictions attached to your home restricting this and (b) your client does not prohibit this. etc. But from a company point of view, no issues at all

2. As long as the company has not traded in the last 3 months, not changed names in the last 3 months, doesn't owe anyone any money (including CVAs etc) or is threatened with liquidation, you can get it struck off for £10 (which cannot come from an account linked to the company involved)

khublaikhan

Thanks for an informative reply - one last question - is it OK to trade using my personal bank account until the business gets on a more sound footing?

Thanks

Lafuma

khublaikhan wrote: »

Thanks for an informative reply - one last question - is it OK to trade using my personal bank account until the business gets on a more sound footing?

Thanks

Not for a limited company, no.

You are 2 different legal entities and will have 2 different names. Your solicitor clients will explain more I am sure if you don't understand this

khublaikhan

Great - Appreciate the advice!