Reply to: Whats in a name?

[cmscotland]

Just wanted to say thanks to everyone for their help! Managed to get a name!

[Pondlife]

Just remember to check the domain names are available before hand.

[TheFaQQer]

Which is why its best not to be an IT Contractor in the SIC code. Which is why I am listed under a transport activity. Close enough to claim that is what I do.....after all I do work in transport.

That's because you're a truck driver!!

[d000hg]

It is trivial but you might as well take 30s to find a name which isn't stupid - you never know.

[cmscotland]

Got the impression cmscotland was overly fretting about something fairly trivial.

Doubt it even registers with the agency unless it's something wacky. Agencies only interested in selling your skill set and not your company name.

McNaught, your probably right, I am worrying about something that is on the face of it trivial!

[Sockpuppet]

Rubbish - even HMRC aren't that numb. They would look at the company classification code and work from there.

That said, I used a generic name because it's the name I always said I'd use if I ever had a company. Since the company does more than one thing, then it works out well.

Which is why its best not to be an IT Contractor in the SIC code. Which is why I am listed under a transport activity. Close enough to claim that is what I do.....after all I do work in transport.

[cmscotland]

I simply based it on my initials rather than my name, easy to make it sound like a 'real' company name.

e.g. John Smith => JS IT Solutions.

Just be careful if your name is Sam Harper.

Lol, luckily that isn't my name!! I think using initials is a better idea!

[saptastic]

The name of your ltd. company is pretty much irrelevant.

But something you need to live with for a long time so disagree.
It also creates a perception of you from an agent/client.
Whilst a standard name is just accepted anything that is out of the ordinary (just like a personal name) can potentially be judged adversely.

[d000hg]

I simply based it on my initials rather than my name, easy to make it sound like a 'real' company name.

e.g. John Smith => JS IT Solutions.

Just be careful if your name is Sam Harper.

[TheFaQQer]

b) I've heard that company names with an individual named in it e.g. Tim Smith, or words like "I.T. Services Ltd" have a higher chance of being flagged on HMRCs systems as likely suspects for IR35 enquiries. Whereas TSIT Ltd would stand more chance of going unnoticed

Rubbish - even HMRC aren't that numb. They would look at the company classification code and work from there.

That said, I used a generic name because it's the name I always said I'd use if I ever had a company. Since the company does more than one thing, then it works out well.

[Clare@InTouch]

I regret the name I chose. It's of the format: <Initials><2 fields of work><Services Ltd>

a) It's too long - 6 words
b) I've heard that company names with an individual named in it e.g. Tim Smith, or words like "I.T. Services Ltd" have a higher chance of being flagged on HMRCs systems as likely suspects for IR35 enquiries. Whereas TSIT Ltd would stand more chance of going unnoticed

So I wouldn't recommend having your name in your co's name

You can change your company for £10, there's a simple Companies House form which you can fill in via webfiling.

[Sockpuppet]

Hasn't done SJD Accountancy any harm...

Nah but Upton Accounts probably wish they hadn't

[Moscow Mule]

I regret the name I chose. It's of the format: <Initials><2 fields of work><Services Ltd>

a) It's too long - 6 words
b) I've heard that company names with an individual named in it e.g. Tim Smith, or words like "I.T. Services Ltd" have a higher chance of being flagged on HMRCs systems as likely suspects for IR35 enquiries. Whereas TSIT Ltd would stand more chance of going unnoticed

So I wouldn't recommend having your name in your co's name

Hasn't done SJD Accountancy any harm...

[PTP]

I regret the name I chose. It's of the format: <Initials><2 fields of work><Services Ltd>

a) It's too long - 6 words
b) I've heard that company names with an individual named in it e.g. Tim Smith, or words like "I.T. Services Ltd" have a higher chance of being flagged on HMRCs systems as likely suspects for IR35 enquiries. Whereas TSIT Ltd would stand more chance of going unnoticed

So I wouldn't recommend having your name in your co's name

[cmscotland]

Thanks folks I'll need to have a think.