In the context of limited company formation, a company is active as soon as it is incorporated. However, it is only considered ‘active’ for corporation tax purposes when it is carrying on any kind of trading activity, such as buying and selling goods or services, managing investments or receiving income of any kind, including bank…
Running a business or company will likely involve hiring employees at some point. You may have prior experience in this area or you may be completely new to interviewing, but either way, you must ensure you have the appropriate skills and knowledge to conduct successful interviews. There are a number of key interview techniques involved,…
The success of your business comes down to a great many factors, and the people you hire to work for and represent your company will have a significant impact on the way your business is perceived and its overall success. It is vital that you choose the most appropriate employees with the relevant experience, skills…
One of the most popular topics we deal with on a daily basis at Rapid Formations is how to open business bank accounts as a non-UK resident. Whilst it’s incredibly easy to register a UK limited company from anywhere in the world, it is more difficult to set up a business bank account unless you…
A company registration number is a unique number issued by Companies House when a limited company or Limited Liability Partnership (LLP) is incorporated. It is usually abbreviated as ‘CRN’ and is sometimes referred to as a Companies House Number. Your CRN will consist of 8 numbers or 2 letters followed by 6 numbers. It will…
Limited companies must fulfil a number of statutory filing and reporting requirements for Companies House and HM Revenue and Customs (HMRC). As a company director, you are legally responsible for maintaining these statutory duties, which include: Sending an annual confirmation statement to Companies House at least once a year. Preparing financial accounts for Companies House.…
Limited company shares can be transferred or sold just like any other form of property. The need to do so can arise for many reasons. For example: the retirement or death of a shareholder; recouping an investment; gifting shares to family members; raising additional capital; or bringing in a new business partner. A stock transfer…
When you form a company, HMRC will be notified shortly after by Companies House. They will then issue a unique tax reference (UTR) for your new company, so there is no need to apply for a UTR yourself. HMRC will enter your company’s details onto their database and send out a letter with your tax…
Directors are appointed by members (shareholders or guarantors) to lawfully manage the day-to-day business activities and finances of a limited company. Members also have the power to remove a director under certain provisions in the company’s articles of association, by ordinary resolution of the company’s members or by a disqualification order made from an authorised…
Home address as a registered office It is perfectly legal and acceptable to use your home address as a registered office for your limited company, as long as it is situated in the same country in which your company is incorporated, i.e. England and Wales, Scotland, or Northern Ireland. However, Companies House places all registered office…
You can issue more shares in a company after it has been formed. You may wish to do this to raise additional capital, bring in a business partner or achieve some other kind of objective. There are a number of factors you will have to consider before allotting more shares in your company, namely: authorised…
Understanding the concept of shares in a limited company can be difficult for those who are thinking about company formation for the first time. We explain share capital, the different types of shares, voting rights and how to issue new ones after incorporation. In order to register a private limited company, you must issue at…
