How to Register a UK Ltd Company (Step by Step Tutorial) | Plus The Top 10 Things You Need to Know
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- Äas pĆidĂĄn 20. 09. 2020
- Register a Virtual Address: bit.ly/3S85qch
This is a step by step tutorial on how to register a limited company in the UK. Most importantly we discuss the top 10 things you need to know before registering a limited company in the UK.
Before walking through the how to form a limited company application process from start to finish, we'll be discussing the top 10 things you need to know before registering a limited company in the following order:
1. What actually is a limited company
2. What is an SIC Code and when is it relevant
3. Company Structure and Your Responsibilities:
4. Timescales involved with setting up a limited company
5. Business Banking and how to choose the right bank
6. Costs involved with setting up and operating a limited company
7. Accountants - Do I need an accountant and how to find the right one
8. Trading - What happens if I don't start trading straight away
9. Addresses - The difference between Trading Address and Registered Office Address.
10. Company name - Is it protected or do I need to get it trademarked
Trading
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SCHEDULE A COACHING CALL WITH MARIO
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REGISTER A VIRTUAL OFFICE IN THE UK
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CREATE ACCOUNT WITH WISE + FREE ÂŁ500 TRANSFER
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CZcams VIDEO ON HOW TO REGISTER A TRADEMARK
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LINK TO REGISTER A COMPANY WITH COMPANIES HOUSE
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SUBSCRIBE TO MY CHANNEL
đŽ / @theholistichustle
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I'll be releasing more Business, E-Commerce and Marketing related content. So if you found this video helpful and want to stay tuned with more videos then please subscribe to my channel so I can keep these videos coming! - Jak na to + styl
Hey Hustlers!! For everyone asking for recommendations I've posted the links lower down in this comment:
Schedule a 1-to-1 coaching call with me: bit.ly/3UbUSeN
Virtual office: 1st-formations-limited.sjv.io/c/2683763/899281/12045
I highly recommend 1st formations. Their virtual office service includes mail forwarding etc, it's great and cheap in comparison to most out there. They also offer tons of other helpful services to help with setting up a business :).
Cheapest Money Transfer: wise.prf.hn/l/RvlnvQ9
Wise, previously known as TransferWise is not only the cheapest but I've found it also the safest and fastest + you get your first international money transfer for free (up to ÂŁ500):
Business Bank Accounts: revolutbusiness.ngih.net/QODQzP
Revolut is a great challenger bank, they have tons of features and lower running costs than most high street banks.
More importantly, thanks for all the comments and I'm happy to help as much as I can so feel free keep them coming!
Thanks make, this is amazing value!! Iâm kinda new to this stuff - wanted to ask when your registering your limited Company would you need your personal VAT number at hand.?? And also with 1st formations websites what package could I go for when Iâm registering my company,
Would it be advisable to go for the basic or top package? As I donât have an office and I do not want my Home address to be made public, is there a way that 1st formations can secure and protect your address? Thanks mate look forward to get your input.đđ
Hey, no you won't need a personal VAT number when registering a limited company! The package depends on what you need. 1st formations offers 3 different addresses: 1. Business Address (this isnt required for companies house but can make your company look more official, which you can use on product packaging, website etc. it costs ÂŁ96/year). 2. Service Address (which is for your company officer and you'll need one to register a company with companies House. It costs ÂŁ26/year) and 3. Registered Office (This is required to register your company and is where letters from companies house go, it costs ÂŁ39/year).
So you can basically choose and pick what you need đ.
Hope that helps!
@@TheHolisticHustle right right thanks bro really appreciate it.
Thank you so much for this recommendation 1st Formation are actually amazing and the reviews are great !!
Literally signed up today !
Thanks again âșïžđ
Great stuff! Happy you found it helpful đ
As an accountant myself, I would recommend this video to anyone. Really informative!
Thanks for the comment, itâs much appreciated đ
Fantastic video. They should really teach this stuff in schools.
Hey Raul, I couldn't agree with you more!
A little convenient they don't teach people to be independent.
Where you see chance I see calculation.
Schools are there to create work force and basic labour not independent businessmen and women. It's up to you to know it and act accordingly
Then there will be no employee. Everyone will be an employer hhhhhhh
Couldn't agree more
You're a legend dude... clear simple concise... no messing. Thank you for your time!
Thanks very much! I'm glad you like it and I hope you dive straight into starting your business đ
Awesome thorough vid, just what I needed! subbed!
Real definition of step by step đđŸ
Thanks Mulky, glad you found it helpful đ
Iâve finally registered my online business. I have been procrastinating for 2 years and Iâve finally done it. Your guidelines were detailed and helpful. Please please keep the content coming đđŸđThank you
Haha I watched a Ted Talks on procrastination a little while ago and it wasn't all bad! But besides the point, well done for finally getting out sorted đ. Feel free to make suggestions for videos and I'll add them to the list đ
Iâll have a think. Thank you!! đđŸ
@@chezelle0076 How's business going my friend? I hope it's going good for real.
can you create from Australia
@@TheHolisticHustle which video can you share the link
I've just watched both your videos. Clear, simple and easy to follow. Thanks so much, you've saved me a lot of time and money. I'm looking forward to more. Subscribed
Hey Gavin, thanks for taking the time to message. I'm really glad I've helped and looking forward to releasing more videos for you!
Very well spent 38min! Strait forward & simple step by step guide. Thank you!!!
Thanks Emi, glad it was useful!
This was fantastic mate, keep this channel going
Thanks for the comment Madiavelli, much appreciated đ.. I certainly will do, feel free to suggest some more content to add to the list đ
This is some insane value, keep it up man!
Thanks for the comment dude đđ
Thanks so much. Followed your advice in this for a week to get my head around it then submitted today with your screen next to it. Thank you so much for your gift of knowledge, time and encouragement.
My pleasure Kick đ.. I'm glad you found it useful and I wish you the very best of luck with your business đ
Very informative, well explained and easy to follow.. I actually didn't know most of the top 10 things you discussed, but now I do so thanks for that!
Hey Nate, glad I helped.. If you need anything then feel free to fire across any questions đ
This video was fantastic, concise and easy to follow. Helped me a great deal. đđœ
Thanks Kaye, my pleasure đ
Smashed it, you're a legend, will be registering my business this week!
Cheers for the comments and good luck with the business!
Awesome video not many have done a video on registering a company in UK and covered most of the topics. A good 37 mins flow of information. Kudos to Mario!! Thanks a ton.
My pleasure Kavitha, glad you enjoyed it, and I'm always here if you need a hand with anything đ
Bloody fantastic! You're a lifesaver my friend. I literally watched your video and went step by step on companies house application. Thank you so much!
Great stuff Jay, glad I could help! ...And don't forget me when you're a millionaire đ
What a great video!!! 37 mins turned into 2hrs with my note taking/research and rewinding. Thank you đ
Hey CW,
Thanks for your comment and glad you found the video helpful. Good luck with your business! đ
This was extremely helpful, thanks!
I'm glad I could help! đ
This is such a great video, very informative gets to the point without all the jargon! Thank you, I'll defo be subscribing!
Thanks Tamara! Direct and concise without the fluff is always the best way.. Good luck with the business đ
It was an awesome video, super clear instructions and tells you exactly what you need to do and shows you how to do it!
Thanks Milda, I'm very glad I could help! Good luck with the business đ
Top man makes me feel more confident about my process im about to start in setting up a Ltd company in construction
Great stuff, glad to hear it mate đ
This video should have a million view. Thanks for the most simplified video on this
Thanks Frankie! My pleasure and good luck with your business đ
Life-saving. Thank you mate. Comprehensive and clear.
My pleasure Daniel, glad I could help!
This is the best video in terms of value its presenting among others I watched. Cant stand to see the new ones coming. Thanks!!
Thanks for taking the time to leave a comment Burhan. All the best Ruth your business! đ
Thanks for this I've finally registered my company/vision after spending the year putting things in place, its a step into the unknown but this video has been valuable and a good step by step explainer for most of us who don't know the business terminology's of things, thanks man!
Thanks for your message mate! Hype business is going well đ
Thanks for the video helped me out a lot. Just in the final steps of registering my business. I have learnt that if you have dreams and goals you want to achieve you must act and not be hesitant and believe in your self. Whish the best to all of you guys, and I mean it đ. Let's chase the bag and make it happen đȘđ
I couldn't agree with you more! Just remember to be persistent and not give up at the first hurdle, or any of the following hurdles .. let's get it! đ
Wonderfully straightforward - hope you keep this going on any business matter. Thanks.
Hey John, thanks for the comment. I will certainly keep this channel going and release more content when I get time, the next one should be up and running in around 2 weeks âșïž
No BS straight to topic, useful information. Loved it.
Glad you liked it! And good luck with your business đ
Please share it on Facebook/Twitter/CZcams if you think it will help others!
Honestly man, you are legit a legend. Thank you so much for this guide. This legit step by step guide. You have helped me so much today and honestly I wish I could do more to pay you back but since we're on youtube, this video is getting a guaranteed like and I'm subscribing. Once again thank you for taking your time creating this guide.
Hey Amandeep, thanks for your message, it means a lot and feel great to know I'm helping people out there like yourself.. I wish you the very best of luck with your business and I'm always here if you need anything else đ
Absolutely brilliant, this has tied up all the loose ends from internet searching, I now understand the whole process of setting up a limited company, followed your steps to success. You have a great teaching/explanation technique, have subscribed and look forward to watching all your other videos. Thank you so much for taking the time to do this.
Hi Mark,
It puts a smile on my face to see people like you benefiting from these videos and showing appreciation so thanks for taking the time to leave a comment, and good luck with your business! đ
@@TheHolisticHustle Once again thank you so much
Another brilliant time saving video that prevents you banging your head against the wall. Top man, just finished mine.
Haha I know the feeling! Great stuff and good luck with the business đ
This was very helpful. So clear and straight forward. Thank you!
My pleasure,glad I could help and good luck with the hustle!
This is what I was looking for, a simple step by step guide, and just set up company today !!
Big thanks for your help
My pleasure and good luck with the business, I hope it goes well for you! I'll be here if you have any questions or need help with anything đ
Don't forget your insurance, check out the Flaxmans channel for our 3 part series on BI Insurance.
Just followed your step by step tutorial and have registered my LTD company! feeling very grateful to you for making this so detailed and in a followable format
Absolutely my pleasure, thanks for taking the time to let me know that it helped. I get a big positive feeling knowing that the content is appreciated so thank you too! đ
After how much time does you get the company registration number ?
Make sure you are properly insured, check out the Flaxmans channel for info and advice for business owners.
Fantastic, in-depth knowledge and step by step instructions. Thank you!
Thanks Naz! Hope it helped đ
This has helped me a lot! Thank you! I usually never comment on youtube videos but I felt like i had to. I'm glad you mentioned about E-commencer business when choosing what your company does.
Hey Neil, thanks for your comments âșïž.. I spend most of my time on e-commerce hence why I mentioned it
The amount of companies youâve help set up in UK đȘđŸ
Hopefully they all go well and prosper!
found this gem! this is really helpful.. almost a 40-minute video full of direct to the point tutorial!
Glad it was helpful Zakary and best of luck with the hustle!
Absolute gem of a video.
Thank you.
My pleasure and thanks for the comment đ
Mario this was extremely helpful! Thanks for going through this - made this process much easier and way less confusing. Cheers!
Thanks for the comment mate. And glad you found it useful, simplifying the over complicated .gov website is exactly what I was trying to do đ
I've been really nervous about setting up a limited company. You have totally put me at ease with this excellent, intuitive video. Thank you so much.
This has put a smile on my face! Good luck Peter đ
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Hey Mario, absolutely brilliant video mate. Thank you!
One question:
What should you file the âprincipal place of businessâ if youâre planning to work from a property that you havenât got yet?
Hey AJ,
I'd say just use an address you have access to at the moment and once you've moved to the new address submit a confirmation statement to get the details changed đ.
Hope that helps and give me a shout if you need anything else!
Smashed this mate, many thanks!
Thanks Henry, glad you liked it đ
Hi Mario, thank you for sharing all this useful information with us. Great stuff!
Hey Dil, my pleasure!
Just watched and it was great, one question. I looked at your business address link which seems great at convent Garden
I looked at opening monzo business account and it seems they will only send a card to the business address and not my secondary home address
Do you know any solutions as London would be a long way for me to go to pick a card up đ
Looking forward to the rest of the videos
Hi Adam,
The business address link which I have provided should include a mail forwarding service which means they will forward on any mail which they receive in your name to an address of your choice.
Hope that helps!
Cheers,
Mario
Hi, I've just watched your video. just wondering if you could help, when registering a LTD business does it give you the option to put two directors in or is this done after ??
Hi Simeon,
Yes it does give you the option during the registration process. You need at least one director in a limited company but there's not actual upper limit to the number of directors you can have. Hope that helps! đ
Thank you so much!
This is a gem! So valuable
Glad I could help đ
Fantastic video, really appreciate the amount of detail in this đđ»đđ»đđ»
Cheers for the comments Mason đ
Hey Mario, I've found both your videos incredibly helpful, and am really looking forward to the one on VAT. I bet others are too :)
Hey Gav, thanks for the comment. You'll like the VAT one, it's an absolute beast, so far it's taken me 3 months to write đ (mostly due to issues with brexit), but I'm almost done, fingers crossed I should be filming it next week!
Great video man! One quick question, I registered myself as a sole trader but then figured it is better for me to register as a Limited Company. I already have my UTR number from the first. Do you think I should change that to Limited Company or just start a new Limited Company? I hope that made sense. Thank you.
Apologies for the late response but I hope you utilised all the info and youâre all set up now! Good luck with your business!
Man, your video and explanation about everything is absolutely brilhant ! It helped me a lot and I did the steps with you watching your video! note 10/10 man, well done and thank for helping us!
Thanks very much Carlos, your message is lovely and I'm very glad you found it useless, I really wish you the best of luck with everything, stay hungry and I'm sure you will achieve everything you set out to achieve đ
I rarely comment on videos but I just want to say thank you!!! You have saved me so much time as this was the only hurdle preventing me from creating Facebook Ads to advertise my Shopify business.
Thanks for the comment Priestly, I'm glad I could help and I really wish you the best of luck with your business đ
Can the virtual address be used for Director's address and Registered office address, does this need to be specified when choosing a company providing virtual office addresses - can you recommend any websites for budget-friendly London virtual addresses? Thanks.
You can check out the companies at this address: www.gov.uk/government/publications/formation-and-company-secretarial-agents/company-formation-agents-and-secretarial-agents
Apologies for the late response but I hope you utilised all the info and youâre all set up now! Check out the videos description for information on virtual addresses đ
Iâll remember you when Iâm filthy rich â€ïž thank you đ
Haha brilliant! Good luck with the hustle đ
@@TheHolisticHustle likewise đ let me go binge on your stuff đŁ
Great video! Thank you đđŒ
My pleasure Fausta! đ
Great presentation and patient explanation. Really appreciated!
Thanks Massa, I wish you the best of luck with your business!
Thank you very much. This helped me a lot especially as a young man with not much business guidance, they never teach this stuff in school, but they should!
I couldn't agree with you more! Practical business skills like this and life lessons such as how to be a good person, how to negotiate etc would go a very long way đ
Thanks mate, very helpful!
My pleasure mate, hope you found it useful and good luck!
This was exactly what I was looking for, nice work!
Thanks Vista, good luck with your business!
Love the way you explain. None of the videos have explained difference of addresses. Hatsoff
My pleasure Shah! I wish you all the best đ
It's a great video tutorial. I've simply followed your video tutorial from start to end. And I've finished the application process successfully few minutes ago without any help from others. Thank you very much for sharing knowledge!
Hey MAK, the purpose of the video was exactly that so I'm happy it's helped!
All the best with your business and good luck for the future đ
You are an Angel ! Thank you very much for this simplicity, direct and full information. Much appreciated !
My pleasure and much appreciated!
Hi just discovered your material, absolute gold !
Thanks
Cheers Andy, I hope it works wonders for you đ
This video has literally answered all my worries about setting up a Ltd company,thanks đ„°đ
My pleasure mate! I hope your business goes well đ
This is incredibly valuable - thank you so much!
My pleasure Feyikemi âșïž.. good luck with your business and let me know if you need anything else đ
Thank you sooo much for this video. I had been postponing this for weeks but now I have completed my application. Keep the videos coming
Glad you found them helpful, and I certainly will do đđ
amazing. thank you so much for this. although its easy(ISH) to set up , some of the questions baffled me so your step by step really did help. THANK YOU
That's great to hear Sarah! Always here to help and good luck with your business! đ
so much info in this video- thank you mate, subscribed
My pleasure mate thanks for commenting đ
Super helpful! Thank you!!
Thanks Carles, much appreciated đ
Thank you so much for the video mate, just set my new company up step by step !! Keep up the videos, new subscriber !! :)
My please mate, I wish you all the best with the business and let me know if there's anything else I can help with đ
Thanks man appreciate the video đđŒđđŒ
My pleasure mate, good luck with the business đ
Fantastic video!!! Just started my limited company, Perfect step my step instructions, Thank you soo much Mario :)
Great to hear mate! I wish you the very best with your company đ
absolutely amazing.
good work
Cheers Diler, it's lovely to see that the video is helping people out there! Good luck with the hustle and let me know if there's anything else I can help with đ
Thank you! Great video đ
Glad you liked it!
Fantastic video literally a life saver!
Thanks! Glad you found it useful đ
Very very helpful! I've been procrastinating and I finally did it thanks to your videos! Very clear and easy to follow! This video deserves millions of views
Great to hear!
Thank you so much for creating this insightful video! Super helpful⊠canât wait to start my application đđ
Hey Gabi! Thanks for your comments and I'll glad you found it helpful đ.. Good luck with your business and let me know how things go đ
Awesome man!
Thanks Sergey đ
This was such and awesome and helpful video!! Thank you soo much!!!
Hi pleasure Andrew, good luck with your hustle đ
Thank you for this very clear video!!!
Thanks Yaan, glad I could help đ
What a legend this dude is ! Big up mate
Haha cheers Rochdi đ
great video! this made the process very easy and understandable! didn't have a clue on what to do before this and now my company is registered!!
Glad you liked it! And good luck with your business đ
Thank you for this video! I have successfully setup my first limited company! Such an achievement!
Congrats, I wish you the best of luck with your new business!
What a guy, what a video - thanks a ton!
My pleasure! Cheers for the comment and good luck with your business đ
Phenomenal video!! I'm just about to register a company, and this video answered so many questions. Cheers mate!
Glad I could help David! All the best with the business đ
Great Video, Really Helpful! đ Thanks Mario!
My pleasure and good luck with your business!
Brilliant buddy. Thankyou so much
Hey, thanks for leaving a comment Dharma!
Thank you! Great explanations.
Glad you liked it! And good luck with your business đ
Please share it on Facebook/Twitter/CZcams if you think it will help others!
Thanks for all the help Mario!
Set up our first LLC for our film production company :)
Hey Dan, that's great to hear, absolutely love it! I wish you the very best of luck with your new business and let me know how it goes đđ
Thank you so much for this !
My pleasure Sagal, glad I could help!
Methodology on point....explain first and then do the practical part. Thank you super Mario...the ideas are sparkles clear and very helpful. I just subscribed to your Chanel I think your contribution worth my time.
Thanks for taking the time to drop and lovely comment like that đ.. Good luck with your hustle and I'll see you soon in the next video đ
Thanks for the video - very helpful and good use of the screen etc.
Hey Rishi,
Thanks for your comments! I'm still learning đ
You are truly a lifesaver man I just submitted my application I had finally made my mind up and started taking action. Now lets see where this journey is going to take me. Lets hope for the bestđđ
Great stuff, that's what it's all about! Action = the distance dreams and reality.. wish you all the best and let me know how you get on đ
Super useful! Thank you
Glad I've helped Naeem, and thank you for taking the time to comment. All the best!
This is an amazing video, really informative, Thank you. đđŒ
Cheers Dave, thanks for taking the time to leave a comment and I wish you all the best with the business!
Great vid!! Thanks
Glad you liked it! And good luck with your business đ
Please share it on Facebook/Twitter/CZcams if you think it will help others!
thank you so so much!! amazing video!!
My pleasure and I hope your business is going well!
Well done! Love the video. Thanks for your work
Thanks for your comment and glad you enjoyed the video!
Thank you for this video,each step was explained amazingly should be proud of yourself for helping so many people đđđ»
Thanks Kieren, I get great pleasure from helping people (to a certain extent haha).. I wish you and your limited company the very best of luck đ