If when I'm ready to set up my own accounting practice/firm and then decide to register with Companies House to make the firm a limited liability company, would I have to list my actual name for Companies House or could I just register my company as let's say 'ABC Accounting Ltd.' instead?
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Are you a member of one of the august institutes? Is so they have rules about this. If not who is going to be the director(s) of the company if not you
In the UK a limited liablity company must have at least one named director, who is an individual and not a corporate body
A lot of accountants have started a sole tradership practice, all with one major problem - How to get and retain clients. This will generally involve a high degree of self marketing and personal exposure particularly in the beginning so you would be exposed to the world at large in the same way as if you were a director of a limited compnay. What is your problem with this?]
If you don't want it I suggest you don't bother to start
Company Law requirements
Hi akeyne,
Just to add to what Michael has said I can tell you that a company formed in the UK must show the names of its directors on its headed note paper etc. There are exceptions, but these would not apply in the circumstances you describe.
However since 2009 directors can choose not to have their personal address available to the public.
As far as operating as a sole practitioner is concerned there are plenty of these about (sorry I'm not one or I would happily offer you the benefit of my experience), From my knowledge of those who do operate on that basis don't know of any "particular struggles", but indemnity insurance is usually proportionately more costly, particularly if you're going to get involved in tax planning.
I'm sure some kindly Accweb members will fill you in on some of the other trials and tribulations involved in UK accountancy and tax practice
Good luck
Takes all sorts...
This seems a bizarre way to want to run things (I'm not sure I'd want to work in an office without knowing who I'm working for), but each to their own. But for the record, you don't have to list directors on letterhead or other communications, just the company name
http://www.companieshouse.gov.uk/about/gbhtml/gp1.shtml#ch10
9. Do I have to display directors' names?
A company does not have to state the directors' names on its business letters unless it chooses to do so. However, if it does decide to include the names then it must state the names of all its directors. In other words, a company cannot be selective about which directors' names it shows - it must show all of them or none of them.
Really?
Is this genuine? You are seeking to set up an Accountancy firm in the UK and you don't know the answer to these questions?
Yes
You are correct I would prepare for obtaining a mortgage, indeed I recently have. I prepared by taking my time, accumulating my deposit, ensuring my income was sufficient to service the debt and subsequent living expenses and then applied.
I apologise if I came across rude. The questions you ask are reasonably basic and to be honest they portray an understanding of business structures below many of the small clients that I do have. Depending on the services you intend to offer You seriously need to consider your preparation. Much like saving for my deposit before I spent it you need to skill up before you begin to trade. If you haven't done a professional qualification then you should seriously consider deferring your plans until you do so.
My advice
Concentrate on your studying and you may learn enough to make better decisions than trying to make them now.
It's nice to dream but don't go too far.
One question still bothers me. Why would you have a problem in having your name attached to the company when the goodwill will be generated by it and you. The clients would definitely want to know that the man they're dealing with is the principal and not just a "manager"
Agreed
Something about this doesn't add up!
Nice story about the tattoo's though
He's only just joined and coming out with all this.
Paranoia
I don't want to deceive clients or employees. But I want to protect myself from deception from others which should be a natural thing to want to achieve (?) and I want to protect the brand of my future firm constantly. But I don't want to defraud people just because I don't want to become insolvent either.
So you want to deceive others so they can't deceive you?
You are weird.
I don't want to decieve you ... but I'm going to do it anyway?
I don't want to deceive clients or employees.
But i'd like you guys to tell me how to do it any way?
I'll deceive you ... in order to protect myself from deception??
I want to protect myself from deception from others which should be a natural thing to want to achieve (?)
How does deceiving people achieve that?
I'll lie to you so you will think my firm is great?
I want to protect the brand of my future firm constantly.
How does deceiving people protect "your brand"
You can't build a brand on deception!
You will only build a "brand" if your clients are happy with the service they get ... if they don't like you (because of your tattoos or any other reason) ... you aren't going to have a brand to protect .... regardless of whether or not you are pretending to be just a Manager! After all you will be the public face of the firm!
tatoos
Dear Akeyne
Unless you've got a swastika tatooed on your forehead, then who would care about tatoos? You would presumably wear appropriate clothing to portray a professional image and remove any scary piercings.
It's your personality and character that matters, not whether you have a few tatoos. There are other accountants out there with lots of tatoos but it hasn't stopped them. Trust, openness, and ability make a lot of difference.
If you genuinely felt that awkward, you could go in with a partner (who doesn't have tatoos) so you could then hide away, but that would be silly. You could also consider targeting clients that would less likely be offended, eg tatoo parlours etc.
However, good luck with the tatoo removal if that's what you need to do, and best of luck with the exams.
Eve
Windup?
This has got to be a windup? If not then I hope you are planning on getting plenty PI cover!
Yes - FirstTab is ok
I hope he won't mind me passing on the info. I was worried about him, and other AWebbers were worried and kept asking me if I had heard anything so I contacted him. FT replied and told me he is keeping busy and concentrating on things other than AWeb :)