Changing name and type of business - how?!

[fayzeeb]

Hello all!

I'm planning to change both the name of my business and the type of business I do. It's effectively going to be a totally different company, but I don't want to set up a new one as I want to be able to work with the funds/bank account etc I already have.

From googling, I believe I have to update my SIC code, change my name through companies house, notify HMRC and my bank, and update my memorandum & articles of association.

I am the only director - am I missing anything?! I'm constantly scared of doing something wrong!

Thanks so much!

[WTFH]

Hello all!

I'm planning to change both the name of my business and the type of business I do. It's effectively going to be a totally different company, but I don't want to set up a new one as I want to be able to work with the funds/bank account etc I already have.

From googling, I believe I have to update my SIC code, change my name through companies house, notify HMRC and my bank, and update my memorandum & articles of association.

I am the only director - am I missing anything?! I'm constantly scared of doing something wrong!

Thanks so much!

Yes, that's pretty much it.

You may want to speak to your accountant, etc about the correct order to make the changes and it's probably not something that will be complete in a day or two.

[fayzeeb]

Yes, that's pretty much it.

You may want to speak to your accountant, etc about the correct order to make the changes and it's probably not something that will be complete in a day or two.

Thank you - I did ask my accountant who said she wasn't sure.... which is making me think I possibly need a new accountant!

[BR14]

no, - you need an anonymous internet forum to make all your life changing decisions for you.
it's the new transcendental meditation bolloks.

you know it makes sense.

[ladymuck]

I've noticed that changing the SIC on Companies House doesn't filter through to the VAT registration. Having a rummage about it seems that HMRC don't have a mechanism for maintaining it and don't state it as a thing that must be kept up to date.

VAT registration: Changes to your details - GOV.UK

Has anyone updated the SIC on their VAT registration and, if so, how did you do it?

[BABABlackSheep]

I’ve heard of a few contractors who forced to go permie or umbrella who want to convert there IT Consultancy LTD to a property management company..buy to letting.

Is this the case?

[ladymuck]

I’ve heard of a few contractors who forced to go permie or umbrella who want to convert there IT Consultancy LTD to a property management company..buy to letting.

Is this the case?

For me wanting to change my SIC? No, it just bugs me that my very first accountant selected a really crap SIC when setting up my company and, whilst I've corrected it at CoHo, I've been pissed off for the past 14 years at having the wrong one on my VAT certificate. I remember every now and then and try to sort it out but I refuse to phone HMRC about it.

[PerfectStorm]

I've noticed that changing the SIC on Companies House doesn't filter through to the VAT registration. Having a rummage about it seems that HMRC don't have a mechanism for maintaining it and don't state it as a thing that must be kept up to date.

VAT registration: Changes to your details - GOV.UK

Has anyone updated the SIC on their VAT registration and, if so, how did you do it?

I've seen at least one guide say that the VAT description of your company can't be changed, so to make it sufficiently broad at the outset so that it covers all things you'll want to use it with. Might be wrong!

[DevUK]

Thank you - I did ask my accountant who said she wasn't sure.... which is making me think I possibly need a new accountant!

Bit concerning that she wasn't sure, it's not a particularly complex process.