What You Need to Do After Forming a Company

Last updated: 2 Jan 2025

So you’ve taken the plunge and formed your own company – now what? Each business is different, but no matter what your business specialises in, you, as the director of the company, now have certain legal obligations to fulfil. There are also a few other boxes that we recommend you tick, like opening a business bank account.

This blog takes you through what you need to do after forming a company.

Receive your company information

The first thing that happens after forming a company is receiving key information and documentation about your company.

If you’ve registered your company with Rapid Formations, you will receive the following documents:

Certificate of Incorporation – This confirms that your company legally exists in the UK. It will feature essential company details, such as your registered company name and registration number.
Memorandum of association – A legal statement signed by all initial shareholders agreeing to form the company.
Articles of association – The key rules concerning how your company will be run and managed.
Share certificates – These verify the shareholdings of each member (shareholder) of the company.
Company registers – The company’s statutory registers with the first entries completed at the date of incorporation.
Minutes of the first board meeting – A legal requirement for UK companies. They are a written record of the meeting’s proceedings.
Authentication code – A 6-digit code used as your online filing password with Companies House WebFiling.

Rapid Formations emails the above documents immediately after a company is registered at Companies House. Hardcopy documents sent by post are also available with select packages.

Alternatively, if you’ve formed your company directly at Companies House, you will receive a digital Certificate of Incorporation.

HMRC will automatically post your 10-digit Unique Taxpayer Reference (UTR) to your company address within 14 days of your company’s registration. The UTR is used for ID purposes regarding tax matters.

Create a Government Gateway account

You’ll have regular correspondence with HMRC during your company’s life to report and pay your business taxes. To do this, you’ll need to create a Government Gateway account, which will allow you to do this quickly and easily online.

To create an account, you’ll need your company’s UTR. HMRC normally automatically send this by post to the company’s registered office address within 14 days of your company being formed. However, if you haven’t received it, you can request a copy, which will be delivered to your registered office address.

Register for Corporation Tax and VAT

After forming your limited company, you need to register for Corporation Tax; however, you might also want to register for Value-Added Tax (VAT).

Corporation Tax

Once your company starts trading, you have three months to register for Corporation Tax, as you’ll need to pay Corporation Tax on the profit your business generates. ‘Trading’ includes buying, selling, advertising, renting a property, and employing someone.

You’ll need your Government Gateway login and UTR to register for Corporation Tax. HMRC will ask you for your company’s registration number (displayed on your Certificate of Incorporation), your trading start date, and the date your annual accounts are made up to.

Once you’ve successfully registered, you will receive a Corporation Tax activation code from HMRC, instructions on getting set up on HMRC’s Corporation Tax services, and your deadline for paying your bill.

VAT

If you expect your company’s turnover to exceed £90,000 within the next 30 days, you also need to register for VAT. You also need to register for VAT – regardless of the company’s taxable turnover – if you are:

Based outside of the UK
Your business is based outside of the UK, and
If you supply goods or services to the UK or expect to do so in the next 30 days

You don’t need to wait to meet the above criteria to register for VAT, you can do so voluntarily as soon as you’ve formed your company.

It’s handy to do this as soon as you can – it’ll save you some precious time later. However, please note that you don’t need to register if the goods or services you sell are exempt from VAT. You can find a list of exemptions on the HMRC website.

If you need help with this or want to avoid the administrative process, opt for our VAT Registration Service for just £39.99.

Open a business bank account

Opening a business bank account is useful when dealing with your new company’s financial administration. This is an entirely optional step. However, we strongly advise keeping your personal finances separate, as this will help you manage your business transactions more easily once you start trading.

If you’ve formed your company through us, you can quickly and easily create an account with our banking partners: Barclays and Anna. Alternatively, we recommend thoroughly researching all the options available to you—both in and outside the UK.

You may choose an overseas bank if you wish. In this instance, you should contact them directly and find out which company documents they require to open an account. You may also need to legalise your documents for overseas use, which we can help you with using our Apostilled Documents Service.

Maintain your statutory records

As a limited company director, you have a legal duty to maintain certain company registers and records.

Statutory registers

Currently, limited companies must keep the following registers:

Under the Economic Crime and Corporate Transparency Act, you will soon no longer be required to keep registers of directors, directors’ residential addresses, secretaries, or PSCs. There is no exact date for when this change will come into force, so you should keep maintaining all statutory registers for the time being.

Statutory records

After forming your company, you also need to keep the following records:

Minutes from general meetings and copies of written resolutions
Minutes from directors’ meetings
Accounting records
Directors’ service contracts
Indemnities given to directors
Contracts for the purchase of the company’s own shares
Documents relating to the redemption or purchase of own shares out of capital
Instruments creating a registered charge

Records and registers must be kept at the company’s registered office address and made available for inspection if requested. If you cannot facilitate this, you may use a single alternative inspection location address (SAIL), such as a solicitor’s or accountant’s address. You can also choose to keep your registers at Companies House.

Learn your key filing dates

In addition to knowing which company records you need to keep, there are important dates you need to remember for certain filings with Companies House and HMRC. These include:

Confirmation statement

Your first confirmation statement is due at Companies House no more than 14 days after your ‘made up to’ date. This is generally the day before your incorporation anniversary.

For example, if you formed your company on 1 June 2024, your made-up-to date for the confirmation statement would be 31 May 2025, with the deadline being 14 June 2025. Subsequent statements must be filed at least once a year, no more than 14 days after the anniversary of the previous filing.

If you need help submitting this document, we offer a Confirmation Statement Service for just £59.99.

Annual accounts

Your accounts also need to be filed once a year. The first set must be delivered no later than 21 months after the date of incorporation. The filing deadline for subsequent accounts is then 9 months after the accounting reference date for those accounts (also known as the financial year-end).

The accounting reference date is automatically set at the end of the month your incorporation anniversary falls. For instance, if you formed your company on 1 June, your accounting reference date will be 30 June of the next year. If you’d like to change your ARD for any reason, you can do so by filing the form AA01 with Companies House.

Company tax return

You must file your company tax return to HMRC every year to notify them of your company’s earnings, losses, loans, and other information relevant to its tax liability. You must include a CT600 form and the company’s statutory accounts in your tax return.

The deadline for submitting your company tax return is 12 months after the accounting period.

Paying your tax bill

In the same way you pay Income Tax on your personal earnings, your company pays Corporation Tax on its profits.

Your company’s tax payment must be delivered to HMRC no later than nine months and one day after the accounting period.

Self Assessment tax return

Limited company directors and shareholders who receive dividend payments or taxable expenses must file an annual Self Assessment tax return with HMRC.

The filing deadline for paper returns is 31 October and 31 January for online returns. You must then pay your tax bill by 31 January after the end of the relevant tax year.

Please note that if your company is dormant, you must only file a confirmation statement and dormant accounts. As the director of your company, you are legally responsible for ensuring these deadlines are met.

Get an accountant

There is no legal requirement to get an accountant for your company. However, as you can see, record-keeping is a vital part of running a company, and you can’t afford to get this wrong, as it could lead to significant issues and penalties.

If you’re unfamiliar or lack confidence with record-keeping, it’s worth getting professional help. Not only can an accountant provide you with valuable tax and business advice, but they will ensure that your statutory records are managed and prepared compliantly. This will free up much of your time to take care of other important business matters.

Take out business insurance

Depending on the nature of your business, another important task after forming a company is to take out relevant business insurance. This is essential to protect yourself, your business partners, and the company against potential risks.

For instance, you might need the following types of insurance:

Public liability
Professional indemnity
Personal accident
Cyber and data insurance
Employers’ liability
Product liability
Building and contents
Directors’ and officers’ insurance
Income protection

Many different types of insurance could apply to your new company. Research your options in detail and purchase the coverage your company needs.

Display your company name

You are legally required to display your company name on all stationery and promotional material, so be sure to do this once your company is formed. This includes business letters, emails, order forms, and websites. The exact information you should disclose here is as follows:

Your company registration number
The registered office address
The jurisdiction of registration (part of the UK your company is registered in)
Your company name. This must match your incorporated company name exactly, including the ‘Limited’ or ‘Ltd’ at the end.

If your company is registered for VAT, you must also display your VAT registration number on all invoices, stationery, and website(s).

Thanks for reading

Running a company can be complex and time-consuming, as its officers (primarily directors) must uphold many legal duties. It can also be challenging for a new company owner to take on, especially with so many deadlines, rules, and regulations to remember. Services from companies like Rapid Formations can help make the process easier and ensure you stay on top of your obligations.

If you’ve just formed your company, we hope this guide has helped you understand the first few steps. If you have any questions, please post them below, and we will get back to you as soon as possible.