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Three Things to Consider Before Changing the Name of Your Private Limited Company in the UK


Maybe you’re rebranding, or maybe you want a fresh start. Whatever the reason, there are a few things you need to know before you can officially make the change. Know these things when changing the name of your private limited company in the UK.

Notify Companies House

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Not only do you need to notify Companies House, but you also need to update your website, business cards, and marketing materials. And if you’re registered with HMRC, you’ll need to update your VAT registration. There are a few things to consider before changing your company name.

First, make sure the new name is available. You can search the Companies House database to see if it’s taken. Second, consider how much it will cost to update your existing materials. You may also want to hire a professional branding agency to help with the transition.

Furthermore, consider whether changing your name will have any legal implications. For example, if you have registered trademarks, you’ll need to update those as well. Once you’ve considered all these factors, you can decide whether changing your company name is the right choice for your business.

Inform the HMRC to Change Your Company Name in the UK

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HMRC is the UK government department responsible for collecting taxes and administering certain government benefits. If you are changing your company name, you will need to notify HMRC so that your records can be updated.

This is especially important if you have any outstanding tax liabilities or are currently claiming any tax breaks or benefits.

The process for changing your company name with HMRC is relatively simple. Make sure you follow these steps:

  1. You will need to notify HMRC of the change by completing the appropriate form – this can be done online, by post, or in person at a local HMRC office. Once the form has been submitted, HMRC will update its records and issue a new Certificate of Incorporation.
  2. You will then need to update your company’s bank account, stationery, and other documents accordingly.

While it may seem like a hassle to notify HMRC of a change in the company name, it is important to ensure that your records are up to date and that you comply with the law. Failing to do so could result in significant penalties.

Inform Your Bank About the Change

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This is important for a few reasons. First, it ensures that your company’s financial transactions are properly processed and recorded. Second, it helps to prevent fraud and identity theft. Also, it allows your bank to provide you with the best possible service by ensuring that all of your company’s information is up-to-date.

To change your company name with your bank, contact them and provide them with your new company name and registered address. They will then update their records and use your new company name in future correspondence.

And if you are looking to change your name as well (totally your decision), you will have to consider changing your name for your bank account to avoid any confusion with your names. 

Final Word

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Changing the name of your private limited company is a big decision. But if you’re sure it’s what you want to do, there are a few things you need to know before making the change official. From updating your company’s articles of association to notifying HMRC, we hope the above tips were helpful.

Once everything is taken care of, you can finally start operating under your new name—and hopefully enjoy continued success in the years to come!

Sources


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