When you're just starting out in business a helping hand can be worth a lot
Setting up a new business can be exciting but also overwhelming. There are forms to complete, places to register with and laws and regulations to comply with. We can walk you through the process step by step to ensure full compliance and leave you to focus on running your business.
Our commercial team at Pearcelegal can help you with all aspects of company formation, incorporation at Companies House, completing relevant forms and essential administration.
We have expertise in dealing with a wide variety of issues relating to business formation, including:
- Shareholder Agreements - a shareholder agreement is an agreement between all or some of the shareholders of a company which covers their relationship with each other, the ownership of shares and the protection of this and the way in which the company is run.
- Confidentiality Agreements (also sometimes call a Non-Disclosure Agreement (NDA))- these can cover many different things such as confidentiality of your employees with sensitive company information, ensuring information shared with third parties does not go to any unintended recipients and as a way of protecting your business ideas.
- Partnership Agreements - similar to a Shareholder Agreement, this is a contract between the partners of a business detailing their relationship with each other, percentages of ownership and how profits or losses of the business will be distributed between them.
- Limited Liability - becoming a Limited Liability company (also known as incorporation) is a type of business structure which limits the owners' financial liability to their investment in the business. This involves registering the business with Companies House and producing Articles of Association which set out the company's rules, filing regular accounts and keeping more detailed records. You will need to comply with the rules of the Companies Act 2006.
- Sole Trader status - this is sometimes a simpler way to run a business without the administrative burden of a limited liability company and is favoured by tradespeople and those who are the sole owner of their business. You will still need to file regular self-assessment tax returns
There are many ways that we can help to support your business. If you would like more information or a free initial consultation please contact us on 0121 270 2700 or at [email protected].
Frequently asked questions
What happens if my company formation is rejected?
There are many reasons Companies House may reject an application, and the system will often do so without stating a reason. You may need to amend the information and make sure nothing is missing before re-submitting. Common reasons for applications to be rejected are when the name you have provided is already registered, or the details are incomplete.
What documents are needed to form a company?
If you choose to set up your company directly with Companies House, you will need to fill in the IN01 form and return this online or by post. You will also need to provide the articles of association, supporting documents for sensitive words in a company name and the memorandum of association.
How quickly can I set up a limited company?
You could set up your limited company in as little as 24 hours by using the online application portal. It could take between eight and ten days if you choose to submit your forms by post.
I have lost my company formation documents, can I get replacements?
If you have lost your company formation documents, you can apply for a replacement from Companies House for a fee. A file copy can also be downloaded from the filing history of your company on the Companies House online service.
Our specialists in Company Formation
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