Contractor reference guides
Setting up as an independent panel builder
Plain-English guidance on forming a limited company, insurance cover, and the contract and invoicing practices panel shops rely on.
Step by step
Forming a limited company for panel building
Registering a limited company for electrical contracting follows a fixed statutory sequence. Work through each step in order before you take on your first commercial job.
1. Choose a company name and register with Companies House
Check the name is available and free of restricted terms, then incorporate the company online. Confirm your registered office address and the directors and shareholders who will own the business.
2. File confirmation statements and annual accounts
A limited company must file a confirmation statement each year and accounts on a fixed deadline. Missing either can lead to penalties, so set reminders from the day of incorporation.
3. Open a dedicated business bank account
Keep company income and expenses separate from personal funds. A business account simplifies invoicing, supplier payments and the records your accountant will need at year end.
Protect the business
Insurance cover for commercial build sites
Commercial sites usually ask for proof of cover before you start. Public liability protects against injury or damage to third parties, professional indemnity covers errors in design or specification, and tool cover protects the equipment your workshop depends on.
Confirm limits with your broker against the contract requirements, and keep certificates ready to send to site managers and purchasing teams.
