How to Change Your Company Name in the UK: Complete Guide

How to Change Your Company Name in the UK 

Changing your company name in the UK can be a strategic move to better align with your brand identity or business direction. However, it involves several important steps and legal requirements. This guide will walk you through the process of changing your company name, from the initial decision to the final approval by Companies House.

Why Change Your Company Name?

There are various reasons why you might consider changing your company name:

• Rebranding: To reflect a new direction or market.
• Mergers and Acquisitions: Aligning the name with a new corporate identity.
• Legal Reasons: Avoiding trademark conflicts.
• Clarification: Make the name more descriptive of your services or products.

Steps to Change Your Company Name

1. Board Approval and Special Resolution

First, you must obtain approval from your company’s board of directors. This is typically followed by passing a special resolution, which requires a majority vote (usually 75%) from shareholders.

2. Prepare the Necessary Documentation

Ensure you have all required documents, including:

• Company Number: Your unique identifier at Companies House.
• Original Company Name: The name currently registered.
• New Company Name: The proposed new name.
• Special Resolution: The formal document confirming the decision.
• Authorising Signature(s): Signatures from authorized company officials.

3. Filing the NM01 Form

Submit a completed NM01 form to Companies House. This form is specifically for changing your company name and can be filed online via WebFiling or by post. The form requires details such as the company number, original company name, new company name, and the special resolution.

4. Pay the Required Fee

A fee is associated with filing the NM01 form. As of the latest update, the fee is £20 for electronic submissions £83 for same-day expedited service, and £30 for paper submissions. 

5. Update Your Company Records

Once Companies House approves the name change, update all official documents, websites, and marketing materials to reflect the new company name. This includes your bank accounts, contracts, and HMRC records.

How to Change Your Company Name on WebFiling

1. Log into WebFiling: Access your company’s profile using your authentication code.
2. Select ‘Change Company Name’: Follow the prompts to complete the NM01 form.
3. Upload the Special Resolution: Ensure the document is correctly signed and scanned.
4. Pay the Fee: Complete the payment process.
5. Submit: Confirm and submit the form for review.

Implications of Changing a Company Name in the UK

Changing your company name can have several implications:

• Brand Recognition: You may need to invest in marketing to establish the new name.
• Legal: Ensure all legal documents reflect the new name to avoid potential disputes.
• Customers and Suppliers: Notify all stakeholders about the change to prevent confusion.
• Digital Presence: Update your website, email addresses, and social media profiles.

Conclusion

Changing your company name is a significant decision that requires careful planning and compliance with legal requirements. By following these steps and using the appropriate forms, such as the NM01, you can ensure a smooth transition. For more detailed assistance or to ensure compliance with all legal aspects, consider consulting with professionals like Xact+ Accountants.