Before Changing the Company Name
There are man reasons why a company may want to change it's name, for example company rebranding (and choosing a name that aligns more with the brand) or even legal/trademark disputes. It's important to review all the reasons for the possible name change to the company, as you need to decide whether this is the right move for you.
It's important to consider:
- The relevance of the name change in respect to the company operations.
- The affects the name change will have to potential consumers of the company's goods and services they provide.
- Which individuals and legal entities you will need to let know.
You will also need to consider if the name you are looking to change to has already been taken. You can use the Companies House website search to check if the name is currently in use; if it is, you will need to consider alternatives.
How Do I Change My Company Name?
There are two legally recognised ways for companies to change their name with Companies House:
- A special resolution of the company members
- A directors resolution - so long as it is allowed in the company's articles of association.
The name change is permitted as long as it complies to the company name rules.
Members Special Resolution
In order to change the company's name by a special resolution - a 75% majority of member's (shareholders) votes are required.
Directors Resolution
A director's resolution on the other hand, is where the directors of the company can authorise a company name change of the legal entity only if it specifically highlighted in the Articles of Association, when the company incorporated.
Submitting to Companies House
Once the relevant resolution has been passed for the name change, you will be able to submit a NM01 form directly to Companies House. This can be submitted either online (£20 fee) through the Companies Hose website or via post to their address (£30 fee). As mentioned before, it's important to check that the company name hasn't already been taken for the process to work smoothly.
After Companies House have processed the NM01 form and accepted the name change, the company will receive a new certificate of incorporation to confirm. You will still be able to view the old company name on the Companies House website under the 'Previous company names' heading. If the company has changed it's name multiple times then all previous names of the company will still be listed on the Companies House website.
What Happens After you Change Your Company Name?
Notifying Legal Bodies
After legally changing the company name, you will need to inform the necessary legal bodies other than Companies House, most notably HMRC. This is to ensure that the corporation tax, VAT and PAYE accounts are all linked to the correct legal entity. You can confirm this change online through your government gateway account or using the GOV.UK tell HMRC service.
Other entities/ people you should update include:
- An current creditors or debtors to the company - these will need to be notified so any contracts remain valid.
- The bank that the company's bank account relates to - this is to avoid any transaction issues or bounced payments etc.
- Any accountants or financial advisors for the company.
- Any other related parties to the company.
Company Branding
Additionally, if the company has any websites or public domains where the company registered name is displayed, this will need to now be replaced with the new one. This can also include email domains and any social media handles. It is important to make it clear for the consumer, via the website for example, that this is still the same legal entity to minimise confusion.
Filing With Your New Company Name
After the company as legally changed their company's name with Companies House via the NM01 form and the new certificate of incorporation has been received, you must file every new return with it's new name (this is to both Companies House and HMRC).
Since changing the company name is not creating a new legal entity, your company registration number will remain the same as well as any other related company details.
The new company name will be available to update on the:
- Companies House Accounts
- Confirmation Statement for Companies House
- CT600 Return + full accounts to HMRC
- VAT returns to HMRC
- PAYE to HMRC
Updating the Company Name In our Software
If you are looking to submit your annual returns through our software with the updated company name, then you will be able to do so. If you have previously used our software to submit to Companies House and/or HMRC (with the previous name), then our system will automatically update the respective company to show the new name; you will not need to manually change this. If you are new to our software, it will automatically take the current name from the Companies House website.
Since this is still the same legal entity, this is the only information that is changed, where the company registered number stays the same.
Micro Company IXBRL Accounts
When completing the company accounts template in the system, you can locate the company name in box 1.1 of the 'Company Information' page. This should automatically be updated once the NM01 form has been submitted to Companies House and amended on their website. Our Micro Company IXBRL Accounts are for both the Companies House accounts submission (abridged accounts) and to be attached to the CT600 (full accounts) for HMRC.
Corporation Tax (CT600) Return
Then if you are submitting to HMRC through us, you can locate the company name in box 1 of the 'Company Information' page in the CT600 return template. Again, this is updated directly once the company name has been updated with Companies House.
