How to Change Your Company Name with Companies House

Changing your company name can be an important step in rebranding, reflecting a change in business direction, or simply correcting an error. Whether your company is well established or newly incorporated, updating your registered name with Companies House is a straightforward process—provided you follow the correct steps and understand the associated costs and obligations.

Understanding the Need to Change Your Company Name

Companies may decide to change their name for a variety of reasons. It might be to reflect a new business focus, to modernise branding, or to remove a problematic or outdated name that no longer aligns with the company’s goals. Whatever the motivation, it’s important to understand the legal and practical implications of changing your company name.

Once you change your registered company name, it becomes the official legal name of your business and must be used on all formal documents, correspondence, and contracts. It is also the name under which your company will be listed on public registers like Companies House, so it’s crucial to choose a name that complies with naming rules and is not already in use or too similar to another registered company.

Steps to Change Your Company Name with Companies House

Changing your company name at Companies House involves a few key steps, primarily passing a special resolution and submitting the correct forms. Here’s the process in detail:

1. Hold a Board Meeting and Pass a Special Resolution: The directors must call a meeting to propose the name change. To approve the change, at least 75% of shareholders need to agree (unless your articles of association specify a higher threshold).
2. Prepare and Submit Form NM01: This is the official ‘Notice of change of name by resolution’ form. You can file this online through the Companies House WebFiling service or send a paper copy by post.
3. Pay the Fee: The filing fee is £8 if submitted online (usually processed within 24 hours) or £10 for paper applications (which take longer).
4. Wait for Confirmation: Once processed, Companies House will issue a Certificate of Incorporation on Change of Name. This certificate is your official confirmation that the name change is complete.

It’s essential to check that your proposed new name complies with Companies House’s naming rules. For example, it cannot be offensive, misleading, or identical/similar to an existing company name. You can use the Companies House name availability checker to help with this.

Legal and Practical Implications of Changing Your Company Name

Once your company name is officially changed, you must update all instances of the old name to avoid confusion and ensure compliance. This includes updating your company stationery, website, contracts, and marketing materials.

Additionally, you are required by law to display your new company name at your registered office and any places where the company conducts business. Failure to do this could result in penalties.

Updating Key Stakeholders

Changing your company name doesn’t just stop at Companies House. You must also inform other important organisations and stakeholders, including:

• HMRC: You need to notify HM Revenue & Customs about the name change so your tax records are up to date. This can often be done by updating your company details online through the HMRC online services.
• Business Bank: Contact your bank to update your business account details. Banks will usually require a copy of the Certificate of Incorporation on Change of Name before making changes.
• Suppliers and Customers: Communicate the change to your suppliers and customers to avoid any confusion over contracts or invoices.

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Costs and Processing Times

The cost of changing your company name depends on how you file your application with Companies House. Online filings are quicker and cheaper, costing £8, while paper applications cost £10 and take longer to process (usually between 5 and 10 working days).

Once your application is accepted, Companies House will issue a new Certificate of Incorporation on Change of Name, which serves as legal proof. Keep this certificate safe, as you will need it to update other organisations, such as your bank.

If you need the name change processed urgently, Companies House offers a same-day service for £100, but this is only available if you submit your application before 3 pm on a working day.

Common Pitfalls and How to Avoid Them

Changing your company name can be straightforward, but there are some common errors to watch out for:

• Choosing a Restricted or Prohibited Name: Names that include sensitive words or suggest a particular status (like ‘Royal’) require permission from relevant authorities.
• Not Checking Name Availability: Failing to check whether the new name is already registered or too similar to an existing name can lead to rejection or legal issues.
• Delaying Updates to Stakeholders: Not informing HMRC, banks, suppliers, and customers promptly can cause confusion and disrupt business operations.
• Forgetting to Update Branding and Materials: Ensuring that all marketing and official documentation reflects the new name is essential to maintain a professional image.

To avoid these pitfalls, use the Companies House company name rules guidance and plan your communications carefully.

Key Takeaways

• Changing your company name requires passing a special resolution and filing form NM01 with Companies House.
• The cost is £8 for online filings and £10 for paper, with faster processing available for an additional fee.
• Ensure your new name complies with Companies House rules and is not already in use.
• Notify HMRC, your bank, and other key contacts promptly to keep records accurate.
• Update all branding, stationery, and contracts to reflect your new company name.