Changing a company’s name is not an uncommon practice. There are plenty of well-known examples, including BackRub to Google and Confinity to PayPal. But, changing your company name is not as straightforward as you might like it to be. It’s not just a case of updating branding and logos.
Because you registered your business as a legal entity, there are rules and regulations you must adhere to and numerous guidelines and procedures you need to follow. These procedures are not purely down to regulations established by the government. They are also down to other people involved in your business, specifically directors and shareholders.
To change your company’s name, you’ll need to pass a special resolution. A special resolution requires at least 75% of shareholders and directors to agree to the change. This process is simple in a small business but gets trickier for larger entities. If you cannot achieve this majority, you can attempt to force change through a separate action, known as an NM04 notice of change. There are varying legal requirements in both instances and our expert advisors at Mint Formations can help you understand them.
Your new name must also follow the rules associated with registering any business name. This includes being unique and non-offensive.
How to Change Your Company Name
Once you have permission to change your company name, you can put forward the required documentation to Companies House. A legal business name change can only be made using this method. There is no other way to change your business name other than by working directly with the British government and HMRC.
You can change your company’s name online or file for a change via a paper form posted to Companies House. It can take a few days for certification of name change to reach you. Once Companies House has certified you, you have officially changed your business name.
How Much Does it Cost to Change Your Company Name?
Direct fees from the government for a company name change cost £10. This nominal charge is used to cover the administrative costs of the name change. When paying this fee, though, you are required to handle all the tasks involved in the company name change yourself. These include understanding the rules, laws and regulations that apply, filling out and submitting the form, as well as monitoring progress.
If you don’t want to deal with this directly, Mint Formations can help you change your company name. This will cost £49 + VAT and includes the original £10 application fee charged by the UK government. At this price, we’ll handle all aspects of the company name change for you, and even support you through the process of commissioning a special resolution. All you have to do is tell us your current business name, the new name you wish to register and details of directors and shareholders. We’ll manage the rest.