Tide company formation: a step-by-step walkthrough

What to prepare before you start

The application is quickest when you have every person's details ready before you open the form. Companies House needs the same core information whichever route you use, so preparing it once saves time on any provider.

Have a shortlist of company names in case your first choice is taken or too similar to an existing company, and decide in advance who will own shares and in what proportions.

• Two or three possible company names, checked against the Companies House register.
• Full name, date of birth, nationality, occupation and home address for each director.
• The number of shares the sole shareholder will hold. Tide's formation route currently accepts single-shareholder companies only; directors can be added without extra cost.
• A registered office address in the same UK jurisdiction as the company.
• A short description of what the company will do, to pick a SIC code.
• A smartphone for Tide's identity verification and app sign-up.

Worth knowing: Use our company name check and the official register search before you apply.

The formation journey in order

Tide presents the process as a guided online form. The exact screens can change, but the information requested follows the Companies House incorporation requirements.

1. 1

   Open the Tide formation page via the offer link and confirm you are a new Tide customer.

2. 2

   Enter your proposed company name and confirm it is available.

3. 3

   Add each director (Tide allows unlimited directors at no extra cost) and the single shareholder, with their personal details and shareholding.

4. 4

   Confirm the registered office address and correspondence addresses.

5. 5

   Select the SIC code that best describes the company's main activity.

6. 6

   Review the standard articles of association and the statement of compliance.

7. 7

   Complete identity verification for the people Tide asks to verify.

8. 8

   Pay £14.99 and submit; Tide files the application with Companies House.

9. 9

   Receive your certificate of incorporation and company documents digitally.

10. 10

    Finish opening your Tide business account for the new company.

How long it takes

Companies House processes most online incorporations within a working day or so, although checks can take longer when a name, address or person needs further review. Tide's own account-opening checks run alongside or after incorporation.

Do not schedule contracts, invoices or payroll for the same day you submit. Allow a few working days of buffer, particularly if you need the account live to receive a first payment.

What you receive after incorporation

Your company legally exists from the date on its certificate of incorporation. Keep the digital documents somewhere safe, because banks, accountants, HMRC and suppliers will ask for them.

• Certificate of incorporation showing the company number and date.
• Memorandum and articles of association.
• Share details for the sole shareholder.
• A Tide business account for the company, once approved, on a plan with no monthly fee.
• The option of free PAYE registration if you plan to run payroll.

Common problems and how to avoid them

Most delays come from avoidable data issues rather than the provider.

First jobs once the company exists

Formation is the start, not the finish. Set reminders straight away for the company's first filings.

1. 1

   Note your accounts and confirmation statement deadlines using our filing calendar.

2. 2

   Register for Corporation Tax within three months of starting to trade.

3. 3

   Decide whether you need VAT or PAYE registration.

4. 4

   Make the qualifying card spend and savings deposit if you want the welcome rewards.

Is Tide the right route for you?

Tide suits founders who want a low-cost formation and a business account set up together. Because the £14.99 price includes the £100 Companies House fee, it costs less than filing directly with Companies House, which is the main reason we feature it.

If you need more than one shareholder, complex share structures, corporate shareholders or premium address services, compare alternatives in our provider comparison before deciding.

Decide the structure before you open the form

The most important decisions in a formation are made before you type anything into an application. Who the directors are, who owns the shares, how many shares are issued and what each one is worth are all recorded on the public register from day one. Changing them later is possible, but every change means a filing, sometimes a fee, and occasionally tax consequences if value has moved between people. Spending half an hour on structure now is far cheaper than unpicking it in year two.

For a sole founder the usual pattern is one director who also holds all of the shares, often 100 ordinary shares of £1 each or 1 share of £1. A larger round number of shares gives more flexibility later, because you can transfer or issue a small percentage to a co-founder, spouse or key employee without having to subdivide the share capital first. For two or more founders, agree the split in writing, and think about what happens if one of you leaves. The standard model articles used by most online formations do not include leaver or vesting provisions, so a separate shareholders' agreement is worth considering.

Remember that a director and a shareholder are different roles. Directors run the company and carry legal duties under the Companies Act 2006; shareholders own it and vote on certain decisions. One person can be both, but you can also have a shareholder who is not a director, such as a partner who is investing money but not working in the business. Anyone with more than 25% of shares or votes will also be recorded as a person with significant control (PSC).

Worth knowing: Our guides on directors, shareholders and PSCs and on share structures explain each choice in more depth.

Getting the name and SIC code right first time

A company name must end in "Limited" or "Ltd" and cannot be the same as, or too like, a name already on the register. "Too like" is broader than many people expect: adding "UK", "Group", "Services" or a punctuation mark to an existing name is generally not enough to make it different. Certain words, such as "Bank", "Royal", "Chartered" or "Institute", are sensitive and need supporting evidence or approval before Companies House will accept them. If the application includes a sensitive word without the required evidence, it will be rejected and you will have to resubmit.

Being available on the register is not the same as being safe to use. A name can be free at Companies House while still clashing with someone else's registered trade mark. Search the UK Intellectual Property Office trade mark database and do a basic web and domain check before you commit, especially if you plan to spend money on branding.

The SIC code describes what the company does. Pick the code that matches your main activity; you can list up to four. It does not limit what the company is allowed to do, but HMRC, banks and insurers do look at it, and an obviously mismatched code can trigger questions during account opening. If your business is a mix of activities, put the one that will generate most income first.

Addresses: what becomes public and what does not

Every company needs a registered office. Since the Economic Crime and Corporate Transparency Act changes in March 2024 it must be an "appropriate address": somewhere official documents will come to the attention of someone acting for the company and where delivery can be acknowledged. A PO box on its own is not acceptable. The registered office appears on the public register permanently, including in historical filings, so think carefully before using your home.

Directors also give a service (correspondence) address, which is public, and a usual residential address, which is held privately by Companies House and not shown on the register. Many founders use a business address or a paid registered office service for both the registered office and the service address so that their home does not appear publicly. Tide offers optional address services at an extra cost; check the current price in the app, and compare it with independent address providers before buying.

Companies now also need a registered email address. It is not published, but Companies House uses it to contact the company, so choose an inbox that someone actually monitors rather than a personal address that may lapse.

• Registered office: public, must be appropriate, in the same UK jurisdiction as the company (England and Wales, Scotland or Northern Ireland).
• Director service address: public; can be the registered office.
• Director home address: private, held by Companies House.
• Registered email address: private, must be monitored.
• Date of birth: only month and year are shown publicly.

What happens between submission and your first payment

Once you submit, Tide passes the incorporation to Companies House. Most straightforward applications are approved quickly, but you should not rely on same-day results. If Companies House queries anything, such as the name, an address or someone's identity, the process pauses until it is resolved. Watch your email and the Tide app during this period so that you can respond promptly.

When the company is incorporated you will receive the company number and certificate. At that point the legal entity exists and the clock starts on several obligations, including your first confirmation statement and your first accounts. Tide then completes its own account-opening checks for the new company. Only once the account is open can you start receiving payments into it and work towards the reward conditions attached to code NEW200.

A useful habit is to create a simple launch note on the day of incorporation: company number, incorporation date, accounting reference date, registered office, the code you used and the date you opened the account. Those dates drive almost every deadline you will face in the first two years.

Your first-year compliance calendar

Forming the company is the start of an ongoing set of legal duties, and they apply whichever provider you used. Missing them leads to automatic penalties from Companies House and HMRC, and in serious cases the company can be struck off. The good news is that the first year is predictable once you know the dates.

The confirmation statement is due at least once every 12 months, with 14 days to file after the review date, and currently costs £50 online. Your first statutory accounts are due 21 months after incorporation, then nine months after each year end. Corporation Tax is normally payable nine months and one day after the end of the accounting period, while the CT600 return is due 12 months after it. Use our filing calendar to generate your own dates from the incorporation date.

Common questions

Official sources & further reading

This guide draws on the official guidance below. Rules, fees and individual circumstances can change; check the relevant source before acting.

• Tide company formation offer (NEW200)
• GOV.UK: Set up a private limited company
• GOV.UK: Companies House fees

General UK information, primarily for private companies limited by shares. This is not personalised legal, tax or financial advice. An accountant or solicitor can help apply the rules to your situation.