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13 December 2018 You are not logged in. Login now.

How to Fix Mistakes In Your Company Formation

company formation mistakes

Realising you have made a mistake when forming your company may be frustrating but you can take solace in the fact that, more often than not, these errors are easily remediable. We can tell you from experience that it is not uncommon for errors to be made when forming a company online and this guide will outline how to fix some of the most common mistakes.

Company Name

Your company name will be the first thing your future clients will see so it is imperative that this is correct. UK companies can change their company name at any point via filing form NM01 either online or by post with Companies House.

It is important to note that all name changes are recorded publically on the Companies House register and this information is readily available. If you don’t want any name change history associated with your company the alternative option would be to apply for the erroneous company to be struck off the register and to then form a brand new company with the correct name. Please visit our web page for more information on changing a company name.

Registered Office Address

Changing or correcting the registered office following the formation of your company is a simple case of filing form AD01. Form AD01 is a basic form that only requires the company number, company name and the new registered office address. This document can be completed and filed by post or online at Companies House using their web filing service.

Director’s details

Errors in a director’s name, nationality or address can be easily fixed with form CH01. These changes can be made online via the Companies House Webfiling service or via filing this form by post. Please visit our guide for more information on changing a director's details.

This process, however, cannot be used to fix an incorrect date of birth. If you have entered an incorrect date of birth you can amend this by terminating the director with form TM01 and reappointing the director with form AP01. Both of these forms can be backdated to the date of incorporation.

fixing company mistakes

Share capital

Your liability is Limited to the total value of the Company’s share capital. It is therefore important that this information is correct. If too many shares have been issued it is possible to fix this by first filing form SH03 for the company to effectively buy back these shares and then filing form SH06 to give notice of the cancellation of these shares.

If too few shares have been issued you can increase the share capital by filing form SH01 and then issuing the new shares accordingly.

Shareholders of a company are entitled to a share of the profits and can also have various voting rights within the company. Shareholders are not always directors and vice versa. Changing the shareholders of a company post-formation can be achieved by completing a stock transfer form and Companies House will be officially updated when the next Confirmation Statement is filed as this has now replaced the annual return. You can find more information on our guide to share transfers.

Prevention is better than the cure and double checking all of the information in your application is correct before submitting this can prevent future hassle, however you need not worry too much if a mistake is made as minor errors are often easily resolved.

Author Mike Harris
Mike has been assisting customers with their company questions for over 15 years through the company Small Firms Services Ltd. You can follow SFS and Mike on Google+ and also twitter