Form a new company

You can form a new company either through the IRIS Elements Company Formations widget on the home page dashboard, or when adding a business client.

If this is your first time using IRIS Elements Company Formations, you'll need to add your Companies House presenter credentials.

Before submitting a new company, you must add your Companies House credit account presenter details to the Vault first.

1. Launch the Company Formation wizard:
   Create a new formation from the Add client screen

   1. Go to Client > Add client.
   2. On the Add client page, under Status, select Prospect.
   3. Under Client Type, select Business.
   4. Select the Form new company sub-tab.
   5. Select Start formation to open the Company Formations wizard.
   Create a new formation from the widget

   To start a new formation from the dashboard, select Start new from the Company Formations widget.

2. Fill in the Business details, where the following fields are mandatory:
   • Client ID — For your own records, to identify the company throughout the IRIS Elements platform
   • Business name
   • Business type — Always set to Limited by shares
   • Registered in
   • Registered email address — Companies House require an email address to be registered against this business, used for all relevant correspondence
   • SIC code — Select Add codes to search for relevant Standard industrial classification of economic activities (SIC) codes or to add a new one
3. Select Save & continue.
4. Add the registered office address. You can enter a new address or select an address already saved in IRIS Elements.
5. Select Save & continue.
6. Add the Directory, Secretary, person with significant control (PSC), and Shareholder relationships.
7. Select Save & continue.
8. Assign shareholdings for the new company and shares to shareholders. This is the share captial information.
9. Select Save & continue.
10. Add the articles of association for the company being formed, and confirm the Declaration statement.
11. Select Save & continue.
12. Review all the information entered for the company being formed.
13. You must send the IN01 and Articles of association to your client for their approval first.
14. Only then can you submit the new company to Companies House.

When forming a company, a client record is created with a status of Prospect, indicating that you don't yet offer this client any services. You can convert this prospect to a client when you're ready.

Once you've submitted the formation to Companies House, you can keep track of the status of the formation by viewing formations in the Company Formations widget or Company Formations page.