There are 2 types of limited company in the UK that can use GoCardless to collect payments:
| Business type | Description |
|---|---|
| Limited by shares |
This type of business typically makes a profit and keeps all finances separate from personal ones. This business has shares and shareholders. |
| Limited by guarantee |
This type of business does not typically make a profit and keeps all finances separate from personal ones. This business has guarantors, rather than shareholders and invests profits back into the organisation. |
If your business falls into one of these limited company types, follow these steps on the Tell us about your company step of your setup section:
1. Select Limited company as your business type
2. Choose your industry and provide a description of what your company does
3. Search for your company using the name or registration number
As you type, matching companies will appear. Click on your company to auto fill the details. (If your company doesn't appear, you can enter your information manually instead).
4. Enter the name and date of birth of all company directors
Click on Add another director to add multiple people.
5. Select one director from the dropdown menu to verify
You will then be required to enter the address of your chosen director so we can perform the verification check. This must be their home address.
6. Enter details of all Ultimate Beneficial Owners
These are any persons (or other companies) owning 25% or more of your business.
For more information on Ultimate Beneficial Owners, please click here.
7. Tick the box to confirm that details of all individuals owning or controlling more than 25% of the company’s shares or voting rights, and all individuals who otherwise exercise control over the management of the company, have been entered accurately
8. Once you've completed this section, click Continue to move to the next step
Click here to go to the guide for the next step, Adding your contact details.