Self Assessment for directors is required if you receive dividends or any other untaxed income in addition to your director’s salary. You can register for Self Assessment online with HMRC. Each year, you will be responsible for filing your own Self Assessment tax return to report your annual income from all sources. Any personal tax…
VAT registration, whether compulsory or voluntary, can provide a range of benefits to businesses of all sizes. However, there are also certain downsides to be aware of. Below, we outline the criteria for compulsory VAT registration and discuss the pros and cons of registering a business for Value Added Tax. When is VAT registration compulsory?…
The majority of working women in the UK are entitled to one year’s maternity leave from work. This can start at any time from the 11th week prior to their due date, and it consists of 26 weeks of Ordinary Maternity Leave and 26 weeks of Additional Maternity Leave. By law, all women must take…
A registered office is the official contact address of a limited company or limited liability partnership (LLP). At this nominated address, which is publicly available online via the Companies Register, a company or LLP will receive statutory letters, notices, and other communications from government bodies such as Companies House and HMRC. Please note: throughout the…
Limited Liability Partnerships (LLPs) have a number of statutory filing and reporting requirements for Companies House and HMRC, many of which are similar to those required of limited companies. Below, we take you through all of the LLP filing and reporting obligations you will need to fulfil. LLP filing and reporting – the headlines An…
A limited company’s date of incorporation is the date that it is registered at Companies House in England and Wales, Scotland, or Northern Ireland. On this date, the limited company comes into existence as a distinct legal ‘person’ that is separate from its members and directors, can buy property its own name, and is responsible…
If you change your company name, you must update the name on your business bank account as soon as possible. The company name on this account – and any other legal agreements or contracts set up in your company name – must exactly match the official name that is registered at Companies House and displayed…
To gain publicity for your company, it must be completely discernible from its competitors. You’ve got to ensure that consumers will instantly recognise your products and be inclined to purchase those products without thinking twice. This is achieved through effective branding, which includes a relevant and recognisable company logo. According to the American Marketing Association…
Setting up a business email address is an important part of your overall branding strategy, but it’s a relatively simple and inexpensive task. Below, we will discuss the options available to you and explain why you should give careful consideration to the account provider and business email address you choose. Why you should set up…
Limited company guarantors, also known as ‘members’, can be individuals or corporate bodies. Whether they become members during or after incorporation, a guarantor of a limited company is essentially an owner of the organisation. They have ultimate control of the company, they delegate powers to the company directors, and they commit to pay a fixed…
If you decide to close a company, you will need to satisfy a number of requirements, and the dissolution process will depend on whether your business is solvent or insolvent – i.e., does the company have enough money to pay its bills? If your company is able to pay its bills, it is solvent and…
Meetings and resolutions are an essential part of running a successful limited company. You may have to hold board meetings of the directors and general meetings of the members (shareholders/guarantors) when important decisions need to be made. Whenever any such formal meetings take place, certain rules and procedures must be followed to comply with company…
