If you register a limited company through Launchese, we will contact you by email as soon as Companies House approves your application. You can also monitor the progress of your company formation application on your Launchese Dashboard.
You can start trading through your new company as soon as you receive notification that Companies House has approved your application.
You’ve just incorporated your company and may be wondering what next to do. Below are 4 steps of what to do for a limited company within the first few weeks of setting up.
After incorporating your UK company, you will need to take the following steps:
1. Set up a bank account for your company
2. Register for value-added tax (VAT)
3. Ensure you have a UTR number
4. Get familiar with your company’s annual requirements
1. Set up a bank account for your company
Setting up a bank account for your company is an important early step. You will need to choose a bank and provide various documents, such as the certificate of incorporation and the company’s memorandum and articles of association. The bank will also want to see proof of your identity and address.
At Launchese, we’re partners with different banks that you can use with your Business in the UK, like Wise, Business Payoneer, Tide bank and more, you can contact our support anytime for more details at: [email protected]
2. Register for value-added tax (VAT)
Value-added tax (VAT) is a tax that is charged on goods and services that are sold in the United Kingdom. Businesses that are registered for VAT must charge their customers VAT on the products or services that they sell.
The amount of VAT that is charged is based on the value of the product or service that is being sold.
There are a few things to keep in mind when registering for VAT:
1. You must be registered for VAT if your business turnover exceeds £85,000 per year.
2. You must register for VAT if you are selling goods or services in the UK.
3. You must register for VAT if you are importing goods into the UK.
4. You can register for VAT voluntarily if your business turnover falls below £85,000 per year.
When registering for VAT, you will need to provide your company’s name, address, and contact information, you will also need to provide your company’s registration number (if you have one) and the date that you want to start charging VAT.
Launchese can help you register your VAT number, you can contact our support anytime for more details at: [email protected]
3. Ensure you have a UTR number
A UTR number or Unique Tax Reference is a 10-digit number provided by HMRC to every newly incorporated company. This number is important as you will need it to file your Self Assessment tax return.
When you incorporate your company with us, HMRC will automatically send a letter to your registered office address containing the UTR number within 3 weeks from your company’s incorporation date.
If you have a current registered office address service with us, once the letter arrives, we will forward it to you within 24 hours.
If 3 weeks have passed and you have not received the UTR number, please contact HMRC on 0300 200 3310 or +44 161 931 9070 (if calling from outside the UK).
4. Get familiar with your company’s annual requirements
Throughout the life of your company, you will have documents and forms to fill in and file to Companies House, HMRC, etc…
Not all of the above steps will apply to your company, and, therefore, is a guideline. Should you require professional advice, please speak with an accountant or Companies House business support line on 0300 456 3565.
Setting up a bank account is an important first step in establishing your company. Once you have opened a bank account, you can then begin the process of registering for value-added tax (VAT).
It’s also important to familiarize yourself with your company’s annual requirements so that you can stay compliant with UK tax laws.
By following these simple steps, you will be well on your way to starting and running a successful business in the United Kingdom.
At Launchese, we have different packages for overseas customers looking to form a UK Limited company for the non-UK residents, is It includes the option to use our address as the company’s registered office, plus you can also open a Wise borderless account.
So if you’re looking for a way to start your own business, the United Kingdom is the best choise, So what are you waiting for? Get started today!
