Best New Business Formation Lawyers in Havant

1. About New Business Formation Law in Havant, United Kingdom

New business formation in Havant follows the United Kingdom's national corporate framework. The primary statute for forming most companies is the Companies Act 2006, a comprehensive law that governs incorporation, directors, share structure, and reporting duties. In Havant you will interact mainly with Companies House for registration, and with HM Revenue & Customs (HMRC) for tax matters.

Local considerations in Havant include business rates, licensing rules for certain activities, and compliance with local planning or trading requirements. While the core formation process is national, Havant residents often seek local guidance on permits, premises licensing, and access to local business support services. A solicitor or licensed corporate advisor can help navigate both national and local steps efficiently.

According to the Companies Act 2006, a company is a separate legal entity from its shareholders and directors.

Source: legislation.gov.uk

Under the PSC regime, individuals with significant control must be registered and maintained for each company.

Source: gov.uk

2. Why You May Need a Lawyer

• Choosing the right structure for a Havant business - If you plan to open a cafe or shop in Havant, a solicitor can compare sole trader, partnership, and limited company options. They will tailor Articles of Association and a suitable share or ownership plan to your goals and tax position.
• Drafting and negotiating investor or partner agreements - A new Havant tech startup with multiple founders may need a detailed shareholder or member agreement, plus appropriate share classes. A lawyer ensures clear exit rights and governance rules from day one.
• PSC compliance and beneficial ownership disclosures - If your Havant business has multiple owners or family members, you must identify who controls the company. A solicitor helps prepare and maintain up-to-date PSC information with Companies House.
• Community Interest Company or social enterprise setup - If the venture aims to benefit the Havant community, a solicitor can guide you through setting up a Community Interest Company under applicable regulations and ensuring the correct reporting.
• Local licensing and premises considerations - A local business such as a bar, restaurant or market stall may require specific Havant Borough Council licenses. A lawyer can coordinate national formation tasks with local license applications to avoid delays.

3. Local Laws Overview

The following laws and regulations govern how new businesses are formed and kept compliant in Havant:

• Companies Act 2006 - The central framework for forming and running limited companies in the UK. It covers registration, directors, share capital, and annual reporting requirements. Effective since 2006.
• Small Business, Enterprise and Employment Act 2015 - Introduced the beneficial ownership and PSC framework, requiring companies to record and disclose people with significant control. PSC regime began to take effect from 6 April 2016.
• Economic Crime (Transparency and Enforcement) Act 2022 - Expands powers to tackle money laundering and increases corporate transparency, including enforcement provisions for non-compliant entities. Royal Assent in 2022 with phased implementations in 2023-2024.
• Confirmation Statement regime (under the Companies Act 2006) - Replaced the annual return with a Confirmation Statement that must be filed at least once per 12 months. This is managed via Companies House. Introduced in 2016.

For Havant businesses, local considerations can include business rates, premises licensing, and street trading permissions. Always check Havant Borough Council guidance for any local licences that may apply to your sector. See government guidance on licensing and permits for reference to national rules that can interact with local permissions.

4. Frequently Asked Questions

What is the best structure for a new Havant business?

Most new businesses in Havant choose between sole trader, partnership, and limited company structures. A solicitor helps compare liability, taxes, and admin burdens before you decide.

How do I register a company in Havant?

You register a company online with Companies House using their official service. Prepare details about directors, registered office, and share structure in advance.

What is a PSC and do I need one in Havant?

A Person with Significant Control is an individual who controls the company. If you own, control, or benefit from the company, you likely need to register them at Companies House.

When should I file a Confirmation Statement?

File a Confirmation Statement at least once every 12 months. It updates Companies House on who controls and runs the company.

How long does company formation take?

Online formation is typically processed within 24 hours if all information is correct. Paper filings take longer, often several days to weeks.

Do I need a lawyer to form a company?

A lawyer is not strictly required but highly advisable for complex share structures, investor agreements, or PSC compliance. They save time and protect your interests.

What about the PSC requirements in Havant?

PSC rules require identifying individuals with significant control. Your solicitor can prepare the PSC register and ensure correct filings at Companies House.

Is a local licence required to operate a new business in Havant?

Some activities require local licences or permits from Havant Borough Council. Confirm your sector-specific needs via the council’s licensing guidance.

How much does it cost to form a company in Havant?

Costs include Companies House filing fees and potential legal fees. Online formation fees are generally lower; a solicitor may quote for additional services.

Do I need an accountant after forming a company?

Most new Ltds benefit from an accountant for year-end accounts, tax returns, and ongoing payroll or VAT obligations. This helps ensure compliance from day one.

Can I convert from sole trader to Ltd later?

Yes, you can convert. A solicitor can guide you through the share transfer, asset reallocation, and continuity of contracts during the transition.

5. Additional Resources

• Gov.uk - Register a company - Official guidance and online service to incorporate a company. https://www.gov.uk/register-a-company
• Gov.uk - People with significant control basics - Overview of PSC requirements and how to comply. https://www.gov.uk/guidance/people-with-significant-control-basics
• Gov.uk - Confirmation statements - Information about CS01 and annual confirmation filing. https://www.gov.uk/confirmation-statement

6. Next Steps

1. Clarify your business structure and goals - Decide if you want a sole trader, partnership, or limited company. Include your tax and liability preferences. Timeline: 1-3 days.
2. Gather key information for formation - Prepare proposed company name, registered office address, directors, and shareholders. Have PSC details ready if applicable. Timeline: 1-2 days.
3. Check name availability and basic requirements - Use Companies House online tools to confirm the name and avoid conflicts. Timeline: 1 day.
4. Identify a local Havant solicitor or corporate advisor - Look for experience in company formation and PSC compliance in Hampshire. Obtain quotes and assess track record. Timeline: 3-7 days.
5. Confirm scope and engagement terms - Request fixed-fee quotes for formation work and any ongoing compliance services. Timeline: 3-5 days.
6. Prepare documents with your lawyer - Directors' details, Articles of Association, and initial share structure. Timeline: 2-5 days.
7. File with Companies House and set up post-formation tasks - Submit formation documents and arrange PSC filings. Plan for ongoing annual statements. Timeline: 1-2 weeks from initial data collection.