Incorporation is the legal process used to form a company. A limited company is a separate legal entity from its owners and recognised as such by the term ‘Limited’ or ‘Ltd’ following the chosen trading name.
The process of incorporation involves registration at Companies House, where each newly incorporated company will be given its unique number. A Certificate of Incorporation will be produced, and a document known as the Articles of Association will establish the rules about running the company, agreed by the shareholders, directors, and the company secretary.
Ongoing corporate actions
A corporate action is any action taken by a company, approved by its board of directors, that has a material impact on the company and its shareholders.
Common corporate actions include;
• Changing the company’s name/brand
• Appointing and changing of directors and shareholders
• Filing of company accounts
Each year the information is reported to Companies House by the directors in a Confirmation Statement and in the Company Accounts. Accountants generally will assist their clients in carrying out these tasks.