Forming a company in the UK involves filing an application to incorporate (Form IN01) with Companies House (the Registrar of Companies) in accordance with the Companies Act 2006. This guide explains the legal requirements and essential steps you need to take, including choosing a company name, adopting articles of association, appointing directors, issuing shares, and…
A business partnership is a profit-making business structure that is co-owned and managed by two or more ‘partners’ who share a common goal. They work together to advance their mutual interests and make the business a success. However, the suitability of a partnership depends on a variety of factors, so we’ll discuss the pros and…
Anyone who has filled out a confirmation statement will know how easy it is to make mistakes, particularly if any changes need to be entered on the form. And even if all the information is correct at the time of filing, it can soon become out of date. Fortunately amending a confirmation statement is normally…
In this blog, we will take a look at how a business credit score works, what is considered to be a good score, how to improve a bad one, and how you can find your business’s credit score. What is a business credit score? A business credit score is a numerical grade based on an…
The most profitable industries in the UK are usually serviced by huge corporations, such as utility companies, banks, insurance firms, supermarkets, and pension funds. But there are also many profitable sectors that are more accessible to entrepreneurs setting up a business. In this blog, we will consider the most profitable industries suited to startups. Technology…
The end of the Brexit transition period on 31 December 2020 means that UK businesses are now obliged to comply with the new rules. Although the majority of UK regulations have remained the same as before Brexit, companies should be aware of certain changes. We will consider some of the rule changes and what they…
The government has been consulting on corporate transparency and reform of the Companies Register for the past couple of years. The broad aim is to enhance the role of Companies House, increase the transparency of UK corporate entities and help combat economic crime. We will examine both the original consultation which was published in May…
If you want to know how to resign as a director of a limited company, this blog post explains how to do just that, including the steps that a company must take when a director resigns. We also walk you through the information that is displayed at Companies House and the level of liability that…
Many jobs for contractors require security clearance. In this blog we will consider the different types of security clearance and how a UK contractor can obtain them. What is a contractor? A contractor is essentially someone who performs work for a business or organisation on a contractual basis. Contractors often work on a self-employed basis,…
If you’re wondering whether it’s possible for a sole trader to have employees, the answer is yes, but it is not commonplace. In this post, we will discuss this question, in addition to related matters such as employment law, contractors, freelancers, and limited companies. Are sole traders allowed to be employers? Yes, sole traders can…
If a business charges more VAT to customers than it pays on its own purchases, the difference must be paid to HMRC. Conversely, if a business pays more VAT than it charges, the difference can be reclaimed from HMRC. However, the VAT Flat Rate Scheme works differently – and this is what we will look…
In certain circumstances, larger companies and those with a progressive outlook will issue shares to employees as part of a benefits package. Setting up employee share schemes can be mutually beneficial to both companies and employees in terms of tax savings opportunities, attracting and retaining the very best talent, and creating a happy and productive…
