Owning a company in the UK can be hard work, and doing so without taking a few basic steps to protect yourself can be very risky.  If you want to ensure that you’re well protected, whether you’re starting a brand new company or about to buy a company that has been around for years, the best way to do so is to enlist the services provided by the UK’s Companies House, the organization dedicated solely to company registration and formation.  The process is easier than you may think, and using a third party company to set up your registration will simplify it even more.

Basically, the Companies House is used when you buy a company or set up a new one to register it.  In other parts of the world, the process is known as incorporation, but no matter what you call it you’ll get the same results.  Essentially, the company that you register will become a separate entity – another being entirely separate from you and any other owners.  It will have its own bank account, its own tax accounts, and its own legal status.  In other words, you won’t be connected to the company other than your own salary and your management of it.

This means several things to you.  For one, if a lawsuit is filed against your company then your personal possessions or finances won’t be affected.  If the company files bankruptcy, you won’t have to as well.  Noncompliance issues won’t have a negative impact on you personally, but only on your business.  In other words, all types of risks that affect your company won’t have a major impact on your personal life and finances.  Whether you open a new company from scratch or buy a company outright, taking the time to register through the Companies House will ensure that you’re personally protected.

When you buy a company or open a new one, your best bet is simply to contact one of the many companies that have accounts set up with the Companies House.  This allows you to give them the information needed and pay a modest fee, for which they will handle the entire process of registering your company.  In most cases your registration will be completed the same day or within two to three at the most.  The fees are normally less than one hundred pounds, and you’ll get peace of mind and personal protection as a result.  It’s an investment that you can’t afford to ignore.

Tags: buy a company, new company

This entry was posted on Wednesday, February 22nd, 2012 at 7:36 am and is filed under Kendal Houses. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.