Limited companies are required to prepare annual accounts every year, and deliver them to Companies House and HMRC within a certain time frame. It is possible, however, to apply for more time to file your company accounts by changing your accounting reference date (ARD) or asking Companies House to extend your accounts filing deadline. Changing…
According to recent statistics from Companies House, almost 10% of online incorporation applications – and around half of paper applications – are rejected. Many of the reasons for rejection are easily avoidable, and we will take a look at some of the key problem areas below. Company names There are a whole array of rules…
To enjoy the benefits of limited liability, UK companies and the people who set up, control, and own them must provide certain information to Companies House. Most of this data is added to the public register of companies, which is available to everyone and can be accessed free of charge online. The details on this…
The company formation process in the UK is relatively straightforward, but it’s easy to make mistakes that could cause your application to be rejected or require correction after incorporation. These simple errors and oversights are completely avoidable. Based on our experience, as well as information obtained from Companies House, this blog reveals the most common…
There is no requirement for directors of UK limited companies to live in or be based in the UK – they do not even need to be British nationals. The same applies for company secretaries and even shareholders. But there are certain eligibility rules for UK company directors, and geographical requirements for UK companies, which…
In the UK, Stamp Duty tax is payable on the transfer of existing shares. Calculated at a rate of 0.5% of the sale price of the shares, Stamp Duty (SD) must be paid to HMRC by the purchaser (the new shareholder) when: the price paid for shares is greater than £1000, and the sale is…
Selling on Amazon is an increasingly popular choice for individuals, sole traders, and limited companies, providing enhanced exposure and access to millions of potential customers online. According to Mintel, almost 90% of all UK shoppers use Amazon, and around 70% make purchases on the site at least once a month. As a result, Amazon is…
A dissolved company is one that has been closed and struck off the register at Companies House. When this happens, a company ceases to exist and is no longer able to trade. In certain circumstances, however, it is possible to bring a dissolved company back to life by applying to Companies House for ‘administrative restoration’.…
Put simply, a shareholder is someone who owns one or more shares in a company. A share essentially entitles you to a piece of the business. Usually, the bigger your shareholding, the larger proportion of the company’s profits you are entitled to, and the greater control you will have in the company. Companies can have…
While setting up a limited company entails a bit more in the way of formation than being a sole trader, as well as greater financial and admin responsibilities, there are certain advantages – one of which is ‘limited liability’. As the name suggests, any liabilities of a limited company generally do not extend beyond the…
Companies House Service is a digital search service that provides free access to all public information stored on the UK register of companies, and until recently was called Companies House BETA. The public ‘beta’ trial period for Companies House Service was launched in June 2015. ‘Beta’ is an IT industry term for software which is…
Please note: Due to the Coronavirus (COVID-19) crisis, the government announced on 16 March 2020 that the proposed reforms to the IR35 off-payroll working rules – are to be delayed for 1 year, from 6 April 2020 until 6 April 2021. The Chancellor’s Autumn Budget 2018 included a broad set of changes that apply to…
