Choosing a name:
The name of your business is incredibly important. It is often the first thing customers see and guides their first impression and perception of your business. The right business name can help you differentiate your business, your products and services from your competitors.
When you have a shortlist of proposed business names, do an online check against the register of companies at Companies House. This will enable you to find out if a name is available to register or has been registered by an existing company. You can’t register a company with the same name as an existing company. Also make sure that your proposed business name is not the same as a registered trademark. You can check the trademark register online. It's also a good idea to look at available domain names at this stage. You don't want to choose a great business name only to discover that someone else owns the domain name. We can help you with any on-line searches you need to do.
Choosing a business model: You need to decide on a legal structure for your business: sole trader, partnership, limited liability partnership (LLP) or limited company (Ltd). This decision has tax and cost implications which we will discuss with you. Many small businesses start as sole traders then change to limited companies once they have become established. We can explain the advantages and disadvantages of each structure and help you decide which is best for your business. Depending on the decision you make, we can help you register your company at Companies House and notify HMRC. Deciding if you are going to be VAT registered from day 1, is another important decision with associated advantages and disadvantages which we can explain to you.
Wood and Disney
have years of experience dealing with HMRC and Companies House. We have built up a trusted reputation for excellence based on the accuracy and professionalism of the services we give our clients as witnessed by the regulatory authorities.
Wood and Disney can advise you on all aspects of compliance to ensure that your business is set up correctly avoiding future costly compliance and regulatory problems.
Getting it right first time really does pay off when setting up your business!