Companies House is a government section within the Department for Business, Energy and Industrial Strategy that deals with the regulation of limited companies in the UK. This includes maintaining all information on LLP companies.
What is the Function of Companies House?
Companies House exist to support business owners, the business community, and the general public.
This support is given in multiple ways one of which is registration of information.
Therefore, when a business owner registers a business, they are afforded a level of protection and ownership rights.
What Rights Does a Business Have WHen Registed on Companies House?
When a business is made legal it has certain rights. For example, nobody can claim it is their business once the business is registered under your name.
This also means things like brand names cannot be operated if the business is registered as such.
By registering all limited businesses with Companies House, a considered trusted authority in business.
Can You Set Up a Limited Company Without Companies House?
Without Companies House, no business in the UK can set up a limited business. However, with the setup of a limited business under Companies House, there are assurances made.
One such assurance is that the setup or incorporation of a business is legitimate. This means that any wrongdoings of the business can be applied to the individual that is registered as the owner of the business.
Can You Set Up a Business on Companies House Without Providing Your Name?
A person cannot register a business under their name without providing documents. These are then manually checked beforehand to see if they meet a certain set of criteria.
What Are the Key Responsibilities Of Companies House?
The first responsibly that should be noted of Companies House is the ability to incorporate and dissolved limited companies.
Companies House oversees approving the incorporation of limited companies. Limited companies can be set up and then registered online via a company formation representative.
A limited company can also be set up by post using paper application forms. It is then the role of the Companies House to approve the LLP or deny.
If for whatever reason you decide to close your business, you must return the Companies House to have your business recorded as closed this is known as dissolution.
The second responsibility of Companies House is to make information available to the general public.
This means they are responsible for displaying information of limited companies etc on the register that can be accessed online.
This allows for LLP’s and other limited companies to keep track of more easily by the public at large. There are over 3,000,000 limited companies that are consistently accessible on the register of the Companies House is.
Roughly 550,000 new companies are incorporated each year in the UK.
The final responsibility of Companies House is to look at/investigate and store information about a company Is responsible for storing accurate information on all limited companies that operate within the UK.
This means Companies House records relevant business information this can include things such as:
- Shareholder’s information
It is the responsibility of Companies House to update this information whenever it may be necessary coma it must be provided to them by a member of the business.
Companies House will not obtain any data on the company or source it from other locations it must be applied directly to Companies House from the business owner.
Why Is Companies House Important?
Without Companies house, in the UK there would be no registration process for businesses of a limited nature.
There will be no records of UK businesses operating within the country and as such the ownership of any brands used on named could not be proven.
Companies House is a key part of the business community it acts as a library for all company details available. It also affords businesses with certain rights, protections and information that results in a fairer environment for all businesses operating within the UK.
How Much is Corporation Tax for a Limited Company in the UK?
Currently, Corporation Tax is 19%.