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Can I register a company name.

However not do business for three months?

         

rj87uk

4:02 pm on Oct 23, 2006 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



So,

Just out of curiosity can I register a company name (in the UK) and not do business through it for a few months?

Reason being I have a good idea but it will not be possible for me to get the business going for a few months.

Are there any complications or extra costs involved?

Automan Empire

1:59 am on Oct 25, 2006 (gmt 0)

10+ Year Member



If it is a new ecommerce site depending on search engine traffic, how could you NOT have no business for the first few months after launch? But seriously, folks...
I can't answer to UK law specifically, but in the U.S. the main consideration would be forms, filings, fees and taxes, which are due whether you make a single sale or not. If it is a "hot idea" that may be taken by someone else in the meantime, AND you can afford capitalize the business long before you are ready to open for business, why not?
OTOH, if you know you won't be operational within this fiscal year, why not do the filing at the start of the next fiscal year, so that the costs can be written off as business expenses against actual sales that year?
*Disclaimer, run these questions by your legal counsel and accountant, as I am neither.
Good luck,
-Automan

percentages

6:48 am on Oct 25, 2006 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member Top Contributors Of The Month



rj87uk,

Yes, go ahead, form the company and do not trade for as long as you wish.

You will have to pay a few start-up and annual filing fees, but, in the UK these are minimal (100 pounds to startup, 15 pounds per year thereafter).

File the company as "dormant". Companies House are now making this available electronically to make it even easier for folks like you!

Good luck when you decide to step into the water :)

rj87uk

8:11 am on Oct 25, 2006 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



Why thank you percentages, that was the information I was after. Sounds slightly crazy but I can't start untill I leave my job and I can't leave my job untill I get an extra few £$£ to start off.

Also going to go to Business Gateway for simple business advice.

I'm thinking about starting up at the end of November or the start of January. So ive made a check list of information to find out, costs, ideas, plans and just trying to prepare myself.