How Long Does It Take to Change a Name on Companies House?

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How Long Does It Take to Change a Name on Companies House?

Change Name on Companies House

Changing the name of your company can be an exciting step, especially if you’re rebranding, restructuring, or simply want a fresh start. Whether you’re changing your name for business growth, mergers, or other reasons, the process of updating your company name with Companies House is a necessary legal step in the UK.

But how long does it take to change name on Companies House? The time frame for completing this task can depend on a variety of factors, including the method of submission and whether any complications arise during the process. In this blog post, we will explore everything you need to know about how to change your company name, how long it takes, and the steps involved in updating your company records with Companies House.

What is Companies House and Why is Changing Your Company Name Important?

What Is Companies House?

Companies House is the government agency in the UK responsible for incorporating and dissolving companies. It also holds company records, such as financial statements, directorship details, and legal documents related to a company’s existence and operation. It’s where businesses file essential paperwork and register their details with the government.

If you want to make any legal changes to your company, such as changing your name, updating your director information, or altering your registered address, Companies House is the authority where such changes must be recorded.

Why Change Your Company Name?

There are many reasons why a business might want to change its name on Companies House. Some of the most common reasons include:

  • Rebranding: A company might change its name to align with a new marketing strategy, product offerings, or business identity.
  • Mergers and Acquisitions: When companies merge or acquire other businesses, they may choose to adopt a new name that reflects the new ownership structure.
  • Changing Business Direction: If a company pivots to a new industry or market, a name change can better represent the company’s new focus.
  • Legal or Trademark Issues: A company might change its name to avoid legal disputes or trademark conflicts with other businesses.
  • Company Restructuring: A business may change its name as part of a corporate restructuring or reorganizing process.

Whatever the reason, updating the company name on Companies House is a legal necessity to ensure that all records are accurate and current.

How to Change Your Company Name on Companies House

Before diving into the timeline, it’s essential to understand the process of changing your name on Companies House. The procedure can be completed in just a few steps, but it’s important to follow them carefully to avoid any complications. If you’re unsure about any part of the process, consulting with professionals like Xact+ Accountants can help ensure everything is handled correctly and efficiently.

1. Board Resolution

The first step in changing your company’s name is obtaining approval from your board of directors. A formal resolution should be passed by the board, which will authorize the name change. If your company has shareholders, they must also approve the name change, usually by passing a special resolution.

2. Check Name Availability

Before filing your application, make sure that the new company name you want to use is available and not already in use by another company. You can search the Companies House register to check for name availability. The name must also comply with the rules set out by Companies House, such as restrictions on certain words or phrases.

3. File the Application with Companies House

Once your board has approved the name change, you’ll need to submit the necessary documentation to Companies House. The most common method for submitting your application is online through the Companies House website. You will need to complete a form called NM01 (for limited companies) or LLC1 (for limited liability partnerships).

4. Pay the Fee

There is a small fee to change your company name. The fee varies depending on the method you use to file your application. For example, the cost for submitting your application online is generally lower than submitting it by post.

5. Wait for Confirmation

Once Companies House processes your application, you’ll receive official confirmation that your company name has been changed. If your application is approved, Companies House will issue a Certificate of Incorporation on Change of Name, which will serve as proof of the name change.

How Long Does It Take to Change Your Name on Companies House?

The timeline for changing your name on Companies House can vary depending on several factors, including the method of submission, the volume of applications being processed, and whether there are any issues with your application. Here’s a breakdown of how long it can take:

1. Online Submission

If you submit your name change request online, the process is typically much faster. Online submissions are processed by Companies House within 24 hours during business days. This means you could receive confirmation and the updated Certificate of Incorporation in as little as one business day.

Online submissions are not only faster, but they are also more cost-effective compared to postal submissions. The fee for online submissions is usually £8, while postal submissions tend to cost £15 or more.

2. Postal Submission

If you prefer to submit the application via post, the process will take longer. Typically, postal applications take around 7-10 business days to be processed. The exact time frame can vary depending on the workload at Companies House and whether your application is complete and correct.

Although postal submissions take longer, they may be necessary if you need to provide additional documentation or if the name change is more complex (such as requiring specific legal amendments).

3. Urgency Requests

If you need to change the name on Companies House urgently, you can request an expedited service. This is available for specific situations where you need to complete the name change quickly, such as in the case of a merger, rebranding, or legal requirement. The expedited process typically guarantees the change will be completed within 24-48 hours, but additional fees may apply.

4. Factors That Can Delay the Process

Although most name changes process quickly, a few factors can delay the process:

  • Incorrect or incomplete information: If you don’t fill out the details correctly, Companies House will need additional information, which may delay your request.
  • Name conflicts: If another company already uses the proposed name or it conflicts with existing trademarks or rules, Companies House will reject your application, and you’ll need to choose a new name.
  • Need for shareholder approval: If shareholders take longer than expected to approve the name change, or if disputes arise over the change, it can delay the filing with Companies House.

What Happens After You Change Your Company Name on Companies House?

Once your company name on Companies House has been officially changed, several steps must be taken to ensure the change is reflected across all aspects of your business. Here’s what to do next:

1. Update Your Company’s Legal Documents

After the name change is official, you will need to update all legal documents, including your articles of association, contracts, and shareholder agreements. This is an essential part of ensuring your company operates under the new name without any legal complications.

2. Notify HMRC and Other Authorities

Inform HMRC of your company’s name change so they can update your tax records. This ensures your tax filings and correspondence link accurately to your new company name. If you’re VAT registered, also notify HMRC about the name change.

You will also need to update your details with other authorities, such as the Information Commissioner’s Office (ICO), if applicable.

3. Change Your Branding

If you’re changing your name as part of a rebranding, it’s time to update your company’s branding across various channels. This includes updating your website, business cards, email signatures, social media accounts, and any other marketing materials.

Make sure to communicate the name change to your clients, customers, suppliers, and stakeholders so they are aware of the new company name.

4. Notify Your Bank and Financial Institutions

Don’t forget to update your company name with your bank, credit card providers, and other financial institutions. You will need to provide proof of the name change, such as the Certificate of Incorporation on Change of Name issued by Companies House.

Conclusion

Changing your company name with Companies House is a straightforward process, but understanding how long it will take and the steps involved can help you plan better. Whether you choose to submit your application online or by post, changing your name on Companies House is an essential part of keeping your business in good legal standing.

If you submit your request online, you can expect to receive confirmation of the name change within 24 hours, while postal submissions will generally take 7-10 business days. Always make sure that your application is complete and accurate to avoid delays.

Once Companies House approves the name change, update all your legal documents, notify relevant authorities, and communicate the change to your customers, clients, and business partners. With the proper preparation, you can smoothly transition to your new business name and continue operating without disruption.
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