Going Ltd

[Jodimyatt]

I am currently VAT regestered and have decided to change status to a ltd company

What do i need to do this and are there any requirements have all the forms here from companys house.

 

[Ozzy]

Hi Jodi,
This is the first post on the new forum layout!

The easiest option is to apply for a new VAT number under the Limited company name, and then apply to surrender your current VAT number. Its quite a straight forward process, and the forms are available on the HMC&E website for that.

As for the forms from Companies House, are these for registering the Limited company? If so, and I know you would expect me to say this, but comparing £20 to Companies House, around £15-£20 for a set of Mem&Arts from somewhere like Staples and then about £5-15 to have the forms notorised by a solicitior -- its easier to have a formation agent set your company up for you surely?

 

[Jodimyatt]

I liking the new template by the way.

Do i need more than one partner, as although i have staff I solely own the company.
Just feel it will be easier being ltd with banks and look more professional.

 

[Ozzy]

You will need to have at least 2 officers, but you can have one member (shareholder) being you.
So, for example, you could be a director and secretary but you will need to have another director.

Glad you like the new template. I'm asking for feedback here

 

[Jodimyatt]

On another note, once ltd is it the directors or the company that is credit checked.

Only reason i ask is I have a decent credited scoring but the company is faily new so does not.

 

[Ozzy]

It depends who is doing the credit search. A supplier may just credit check the company but the bank will do the company, the officers and the major shareholders.

 

[Jodimyatt]

Thanks for your help.

All I need to do now is find a secretary

 

[autolycus]

Jodi,

If you don't know anyone who can be your CoSec, another option si to use a virtual company secretary. See this article on my website for more details: http://www.advice4businesses.co.uk/company_secretary.shtml

HTH,
David.

 

[MikeH]

Whilst we can provide Co Secretary services, it is often possible to find someone that will do the role for you. Some people use a friend, family member and some accountants will provide the service at no cost if you are already using their services. However, please be aware that whilst the secretary role is mostly administrative there are responsibilities.

Mike.