Advertising using unregistered ompany name?

[AboveBoard]

Hi,

Myself and a friend are planning on starting a small business in the Midlands region.

The core of the business is IT facilities, management and support.

We've had a few successful leads, only 'evening' work so far (we both have full time day jobs at the moment).

I'm aware that there's a cap on extra earnings, up to a limit of £1000 before you get taxed, but if we continue at the rate of work we're at we'll exceed this amount within the next few months.

Before we make things official and register any form of company, I'd like to know the legalities of advertising? We've got a company name in mind which we'd like to build a website around.

Can we advertise under a name we've not yet registered with Companies House? From my research nobody is using or owns the name, but I'd rather be safe than sorry.

Any help or guidance would be greatly appreciated.

Thanks!

 

[Mr D]

And if someone looks the company up?
Or if someone registers the name?

The website would also have to have legally required information on it about the business. Like business name.

Perhaps start off as sole trader or partnership and move to limited company when ready?
Perhaps registering the company now and leaving it dormant until you are ready for it? Minimal cost, some businesses keep a company dormant for years.

You will be wanting to generate a good reputation. Do not lose it by providing incorrect or false information.

 

[AboveBoard]

I'd like to start off as a partnership, so that responsibilities for the company can be shared then.
Would this be classed as a LTD company though?

I didn't know you could register but keep the company dormant. Would we still need to fill out + send HMRC tax return documentation?

Thanks!

 

[Mr D]

I'd like to start off as a partnership, so that responsibilities for the company can be shared then.
Would this be classed as a LTD company though?

I didn't know you could register but keep the company dormant. Would we still need to fill out + send HMRC tax return documentation?

Thanks!

To be classed as a limited company you must register and use a limited company.
A partnership is effectively two or more sole traders working together in a business with the profits split between them. The partners register a partnership with HMRC and complete partnership tax returns as well as individual tax returns. Different than a limited company.

Not sure of the documents on dormant companies, someone will have an idea later in the day I expect.

 

[Scalloway]

keep the company dormant. Would we still need to fill out + send HMRC tax return documentation?

You need to file annual accounts with Companies House. If the company is dormant from the start it is just a simple form that needs to be completed.

Tell HMRC the company is dormant and you do not need to file anything with them.

 

[AboveBoard]

Thanks Mr D and Scalloway.

I've not dealt with Companies House before so its going to be a bit of a learning curve to be honest.

So in effect, all I'll be doing is setting up the company for future use, as its currrent state is inactive?

Thanks

 

[Scalloway]

So in effect, all I'll be doing is setting up the company for future use, as its currrent state is inactive?

Yes.

 

[DontAsk]

You can advertise with any name you want. You just cant use terms such as 'Limited' unless you have formed a limited company. You can trade as a sole trader, no requirement to form a company.

 

[Mr D]

Thanks Mr D and Scalloway.

I've not dealt with Companies House before so its going to be a bit of a learning curve to be honest.

So in effect, all I'll be doing is setting up the company for future use, as its currrent state is inactive?

Thanks

Reserving the company name that way, for later use.

However that's not doing anything about trademark - which is a separate process. Some go for the company name and that name as trademark at the same time.

 

[Eldy70]

Your local authority will have some kind of business support organisation, which will probably run drop-in events on how to set up a business. They're free and you get to ask all the questions you need to ask.

Alternatively, go and speak to an accountant. They may not charge you for an initial conversation - and again, you'll get robust advice, straight from the horse's mouth.