Business Terms and Jargon Explained
What is UK Business Registration
A company must registers itself at Company House. Once a business is registered in the UK it can do anything legal to make money, subject to its Articles of Association.
A company is a separate legal entity which can conduct business. It has its own tax regime and is governed by the Companies Act. To set up a company you will need
- a company name
- a company address
- a director
- shareholders (these can be the directors but do not need to be).
Once a company has been registered it will be required to keep books and records. It will be issued with a company number and a certificate of incorporation. The business will need a bank account and may be required to register for VAT.
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Term created / updated 2006-10-04 01:41:00
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