SAIF Members – is your ownership transparent to the public?October 29, 2018 // No Comments
SAIF requires that ‘members must prominently display details of the ultimate ownership of their business both outside and inside each premises and on all literature, business stationery and on all advertising and promotional material’ – 2.4 SAIF Code of Practice.
We often receive enquires as to the clarification of what determines ‘ultimate ownership’:
You must display a sign showing your company name at your registered company address and wherever your business operates. If you’re running your business from home, you do not need to display a sign there.
Sole trader legal requirements
If you are registered as a sole trader you can trade under your own name or you can choose a different business name. If you choose a business name that is not your own name, you must include your own name and the business address on all letterheads and order forms.
Partnership legal requirements
If you are a partnership business your letterheads, order forms, receipts and even invoices must include the names of all partners and the address of the main office. If there are many partners then it is also acceptable to state where a list of partners may be found.
Limited company legal requirements
If your company is trading as a limited company the letterhead and order form stationery (whether printed or electronic versions) must include:
- Your full registered company name
- The company registration number and place of registration
- The company registered address and the address of its place of business, if different
- There is no need to include the names of the directors on the letterhead for a limited company, but if you choose to name directors all directors must be named
Most letterheads also include a telephone and fax number, a url for the business’ website and an email address.
Certain businesses must also state the following on their business letters and order forms:
For an investment company (as defined by section 266 of the Companies Act 1985) that it is such a company.
For a company exempt from using the word ‘limited’ in its name, that it is a limited company.
For a company with share capital, it is not necessary to state the share capital on stationery but if the company chooses to do so, the paid-up share capital rather than the authorised capital must be stated.
Charitable companies whose name excludes the words ‘charity’ or ‘charitable’ must state the fact that it is a charity on its stationery.
Further information can be found at https://startups.co.uk/letterhead-legal-requirements-your-business-needs-to-follow/ or https://www.gov.uk/running-a-limited-company/signs-stationery-and-promotional-material