Choosing a Limited Company Name

(2 minutes to read)

Before you can form a Limited Company, you will need to choose a name! That might sound easy, but there are a number of things you will need to consider.

The name must be available. This one should be obvious – unlike a sole trader’s business name, a Limited Company name is protected. If another company is registered using your chosen name, it’s off-limits.

The name cannot be too similar to another. You can’t get around somebody owning your preferred name by changing a letter or sneaking a full stop into the name either – Limited Company names cannot be too similar to another incorporated business.

Avoid protected or ‘sensitive’ terms. You can’t use terms like “Accredited” or “Institute” in your company name without written permission from the government or appropriate regulatory body, nor professional terms such as “Architect” or “Physician” if not qualified.

Avoid trademarked names or expressions. You would think this was obvious – but not judging by some of the formation requests we’ve had!

Keep it professional. You are in business – your name needs to reflect that. Although it can seem like a good idea to pick a non-serious name, it could affect your trading opportunities in future.

Make it relevant. Presumably you are in business to offer particular services or products – make sure your name is relevant to your chosen market to maximise future opportunities.

Think long-term. Are you hoping to expand your business further down the line and offer additional services and products? If so, give yourself room to grow. “Mike’s Spark Plug Replacement Services Ltd.” limits your future activities more than “Mike’s Electrical Services Ltd.”

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Can I change my company name?

You can – there is a nominal fee and a form to submit to Companies House, but the process is straightforward.

That doesn’t mean you should plan to change your company’s name – you will need to inform clients and suppliers of the change, amend templates and paperwork, and update your accountant and regulatory authorities.

If you have chosen a name and want to know the next steps in setting up a Limited Company, have a look at our guide to choosing a contractor accountant for the all-important next step.

If you are setting up a Limited Company, we hope you will choose to join the Dolan Accountancy revolution. To find out more about our services, or simply for some free advice, give our expert contractor accounts a ring on 01442 795 100 or email sophie.lewis@dolanaccountancy.com.

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Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, ContractorUmbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of ContractorUmbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, ContractorUmbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use CashPlus free of charge for the first year, saving you £69.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

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