I am pleased to report that a little more red tape has been cut.
Often the most difficult hurdle when incorporating a new company is finding a name that has not yet been registered and is not “too similar to” one already used. In each case Companies House will refuse the application. In addition there is a long list of sensitive words to navigate which either cannot be used at all or need permission (e.g. “King” or “Accredited”).
The new rules:
- Reduce the list of sensitive words. This means words like “National” “Group” “Holding” and “United Kingdom” are no longer considered sensitive
- Allow the use of certain typographical characters and symbols such as accents, @ and £
- Reduce the list of words to be disregarded when determining the “too similar” rule (for example Paris Smith Holdings Limited would no longer be too similar to Paris Smith Limited)
- Relax the disclosure requirements so that if there are more than five company names to display at any single site then a register of names can be made available for inspection, rather than each name having to be displayed.
The new rules apply to limited companies and limited liability partnerships from 31 January 2015.