ltd company registration transfer

[99jeff99]

Hi, new here!
I am looking to set up a limited company with a friend to commence in the autumn.
We have a company name in mind that is not yet registered.
We are both currently employed and want to start the business as soon as we leave our current roles.
The issue is that, whilst in our current jobs, we are unable to register the company in our names (conflict of interest).
Is it possible for someone else (that we know) to register the company now then transfer full ownership at the appropriate time? If so how would we go about this? And how would it affect our friend in terms of tax etc who is currently employed as a teacher?
The reason we want to do this is so that we can hit the ground running, so to speak, and get everything set up and ready to go when our notice period is up. Thanks in advance for any thoughts/advice you may have.

 

[WaveJumper]

Hi, new here!
I am looking to set up a limited company with a friend to commence in the autumn.
We have a company name in mind that is not yet registered.
We are both currently employed and want to start the business as soon as we leave our current roles.
The issue is that, whilst in our current jobs, we are unable to register the company in our names (conflict of interest).
Is it possible for someone else (that we know) to register the company now then transfer full ownership at the appropriate time? If so how would we go about this? And how would it affect our friend in terms of tax etc who is currently employed as a teacher?
The reason we want to do this is so that we can hit the ground running, so to speak, and get everything set up and ready to go when our notice period is up. Thanks in advance for any thoughts/advice you may have.

The simple answer is yes they can, messy though as they are going to have 100% of the shares registered in their name then you will need to transfer over at later date. Although not all that complicated do you know what your doing or are you going to have to get advice and pay someone to do this for you. In answer to the tax query, the company is an enterty in its own right the company simply put (as its late) pays the tax unless of course this friend took money out the company and this would then be added to their own personal income and taxed as appropriate

Having said all that I suggest you slow down and step back a moment

1, do you really need a ltd company
2, do you really now how to set one up properly
3, do you have any idea how much it will cost to run, accounts etc etc

There are lots on threads on above topics do some research FIRST and know what you getting yourselves into . Best of luck with your knew venture and welcome to the forum