Dissolved companies are no longer in existence so the names of dissolved companies can be registered by a new company. There are no legal restrictions in place when choosing such a name, aside from the standard rules and regulations dictating all company names. You should note, however, you cannot use another company’s name when the…
A shareholder owns and controls a limited company through the purchase of one or more shares. A director is appointed to manage a company on behalf of its shareholders. Whilst the roles of directors and shareholders are completely separate and very different, it is normal for one person to hold both positions. Alternatively, a limited…
Limited companies have a number of filing and reporting requirements to fulfil for Companies House and HMRC on an annual basis. It is the responsibility of company officers (directors and secretaries) to submit an annual confirmation statement, annual accounts and tax returns by the statutory filing deadlines. All corporation tax liabilities must also be paid within…
Following the commencement of the Companies Act 2006 on October 1st 2009, a single company law regime governs all UK companies. The Companies Registry Northern Ireland (CRNI) was integrated with Companies House as part of the Department for Business, Energy and Industrial Strategy (BEIS). To form a company in Northern Ireland, you must complete an…
Private limited companies in the UK can be registered at Companies House by just one person. Whilst the application form requires you to have a minimum of one director and one shareholder, it is commonplace for the same individual to hold both of these positions. This means you can set up a company on your own. This is very beneficial…
A holding company is set up for the purpose of owning assets, shares in other companies and/or to manage or supervise other companies. It is sometimes referred to as a ‘parent’ company. A company whose majority shareholder is another company is known as a subsidiary of that company. Register a holding company online in 3 to…
Company formation is the process of incorporating (registering) a business as a limited company. When this happens, the business becomes a distinct legal entity; an individual ‘person’ in the eyes of the law. Essentially, this means that the company is completely separate from its owners in terms of finances, liabilities, contractual agreements, and ownership of…
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 sequence of numbers that Companies House issues to every newly incorporated UK limited company. Usually abbreviated as ‘CRN’, it 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 be displayed on your…
