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If you are thinking about forming a limited company, one of the first steps to take is to choose a good name for your new enterprise. This may sound easy, but there are plenty of things to consider before starting the formation process.
Aside from the more obvious rules, such as not choosing a name that could be deemed offensive, there are a number of ‘sensitive’ words and expressions that can only be used if you are qualified in some way, or have had permission from a Government or professional body to use.
Examples include words such as ‘association’, ‘assembly’, ‘chemist’, ‘dentist’, and any words that imply a link with the Government when one does not exist.
For the official guidance to company naming and incorporation, read guide GP1 on the Companies House website.
If you have second thoughts about your company name somewhere down the line, it is surprisingly easy to change names.
All you need to do is get the agreement of the company’s directors, and then submit Form NM01 together with a small fee to Companies House.
The downside of changing names if that you may have to spend quite some time updating all your contacts and customers with your new identity, as well as your accountant, tax and regulatory authorities.
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