There is a wealth of information available online which can help people who are considering forming a limited company. Whether it’s a start-up or an established business which wants to move from a sole trader or partnership model to an incorporated entity, troves of government information and well written business blogs can provide valuable guidance…
There are many good reasons to use an accountant to help with the smooth running of a limited company, particularly when it comes to submitting annual accounts and managing tax affairs. However, in terms of the process of forming a limited company, there is no need to use an accountant, even though they will generally…
There are around 1.7 million contractors in the UK, many of whom operate as sole traders. A large proportion provide services exclusively (or primarily) to one client. A significant number of companies have tried to convert a portion of their workforce from employees to contractors, often for tax avoidance purposes. To counter this trend, the…
Anyone setting up a new company will be faced with administrative work to get their new business registered with Companies House and off the ground. Those who are new to the process will also have a fair amount of research to conduct. Fortunately, there are a wide range of company formation agents who can help…
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…
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…
When you decide to start a new business, setting up a limited company is one of the most crucial steps you need to take. Company formation not only offers you and your business a wide range of essential legal protections, but it also cements the foundation of your business, so should never be left to…
Address requirements can cause a great deal of confusion when setting up a business. If you find yourself in this situation, you’re not alone. When you start any type of small business, whether you set up as a sole trader or register a limited company, you will need to nominate at least one address for…
Most private limited companies in the UK have to put ‘Limited’ or ‘Ltd’ at the end of their name when they are registered. Welsh companies can use ‘Cyfyngedig’ or ‘Cyf’ instead. However, some companies are exempt if they can satisfy specific criteria.
Limited by guarantee companies are an alternative type of business structure that are normally used by non-profit organisations. They don’t have share capital or shareholders. Instead, they are owned by one or more ‘guarantors’, each of whom guarantees a fixed sum of money to the business in the event of insolvency. Typically, guarantors do not take…
You can change a company name any time after incorporation. This can be done either by having the members (be they shareholders or guarantors) pass a special resolution or (if the company’s Articles permit it) by the Directors resolving to do so. The first thing you should do is check the articles to see which…
