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By Carlos Rivas
If you are starting up a new business, you have likely heard of Companies House. You may have questions about who Companies House is and how they relate to your new business. Companies House is a government agency that is parented by the Department for Business, Skills and Innovation. The section deals with the regulation and incorporation of certain businesses like limited companies and limited liability partnerships within the UK.
Companies House functions in Northern Ireland, England, Wales and Scotland and regulates businesses located within these areas. Companies House is tasked with inspecting and maintaining information on all LLPs and limited companies in the UK.
If you are a sole trader, you will not need to deal with Companies House unless you expand your business and change its legal structure. Currently Companies House is in charge of approving applications for the incorporation of limited companies. Limited companies can be registered online by using a company formation such as Rapidformations.co.uk agent or through post on a paper application form. General partnerships and sole traders are not regulated by Companies House and therefore do not have to apply to register their business through this section.
There are currently more than three million limited companies registered with Companies House. Estimates show that these numbers will increase by about a half a million new companies every year. In addition to providing company formation, Companies House also maintains a detailed public register that includes details on all relevant companies in the UK and offers data facilities and electronic filing services for these companies.
Companies House makes available to the public information on limited companies and others that are registered through the agency. Public details made available include the status of companies, the registration numbers, the date of incorporation, the type of company, the nature of the company’s business and information about their directors, owners and secretaries as well as shareholders. Anyone can access this information by simply going to the Companies House website and searching for it.
Companies House offers webfiling which serves as a substitute for post delivery and allows companies to deliver certain information and documents to the register. Documents such as annual accounts and returns, any changes in company details, appointments and removals of directors and secretaries, share allotments, dormant accounts and other such documents can be filed electronically. In order to use this service, the company must register with a company email address and request a confirmation code from Companies House prior to uploading documents.
There are currently more than 130 million contracts held within the Companies House database. These date back nearly two decades and contain information about all registered companies within that time period. Companies or public entities can search through these records and download documents for a small fee, provided they first create an account and pay a small subscription fee.
If you are planning to form a limited company, you will learn more about Companies House and its role in your new business venture. You can learn more by visiting Companies House online.