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Rapid Formations Blog

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  • Filing & Finance Business man standing on the hands of a clock trying to stop time.

    How to apply for more time to file your company accounts

    By Rachel CraigMarch 21, 2020Leave a comment

    Limited companies are required to prepare annual accounts every year and deliver them to Companies House and HMRC within a certain time frame. However, it is possible 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…

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    Company Formation The word 'rejected' stamped in red ink on a white background, representing the potential for incorporation applications to be rejected at Companies House.

    Why did Companies House reject my incorporation?

    By Alex HeshmatyFebruary 29, 2020Leave a comment

    Almost 10% of online company formation applications, and around half of postal incorporation applications, are rejected at Companies House. Many of the causes of rejected applications are simple mistakes that can be easily avoided. Below, we will take a look at some of the key problem areas to be aware of. Company names The Companies…

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    About Companies Two wooden arrow signs'PUBLIC' and 'PRIVATE' in yellow lettering, pointing in opposite directions, with background of blue sky with white clouds.

    What company information is available to the public?

    By Rachel CraigFebruary 29, 20202 Comments

    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 company information that…

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    Company Formation Young businessman looking at his laptop screen horrified and surprised by mistakes he has made.

    10 mistakes to avoid when forming a limited company

    By Rachel CraigFebruary 17, 2020Leave a comment

    The company formation process in the UK is relatively straightforward, but it’s easy to make mistakes that may cause your application to be rejected or require correction after incorporation. Based on our extensive experience, as well as information obtained from Companies House, this blog reveals the most common errors and how you can avoid making…

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    Company Formation Business people silhouetted against a large glass wall displaying a map of the world.

    Can UK company directors be based overseas?

    By Alex HeshmatyFebruary 8, 2020Leave a comment

    There is no legal requirement for the director of a UK company to reside or base themselves in the UK. In fact, they do not even need to be British nationals. The same applies to company secretaries, shareholders, and People with Significant Control (PSCs). However, there are certain eligibility rules for UK company directors –…

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    About Companies STAMP DUTY red Rubber Stamp vector over a white background.

    Stamp Duty and Stamp Duty Reserve Tax on share transfers

    By Rachel CraigDecember 22, 2019Leave a comment

    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…

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    Business Startup Close-up of a mobile phone protruding from the chest pocket of a suit jacket, with "Amazon seller" displayed on the screen, illustrating the concept of choosing to sell on Amazon.

    How to sell on Amazon as a sole trader or limited company

    By Rachel CraigNovember 18, 201927 Comments

    Choosing to sell on Amazon is becoming increasingly popular 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…

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    About Companies A close up of a laptop keyboard with one green key labelled 'Restore', representing the concept of applying to restore a company

    How to restore a company that has been closed

    By Rachel CraigNovember 18, 2019Leave a comment

    A dissolved company is one that has been closed and struck off the register at Companies House. When this happens, the company ceases to exist and is no longer able to trade. In certain circumstances, however, it is possible to restore a company by applying to Companies House for ‘administrative restoration’. If administrative restoration is…

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    About Companies A row of small wooden tiles spelling the word "shareholder".

    What does being a shareholder of a company mean?

    By Rachel CraigSeptember 9, 2019Leave a comment

    A shareholder (‘member’) is an individual person or corporate body that holds shares in a company limited by shares. As a shareholder, your shareholdings represent the percentage of the business that you own and control. The bigger your shareholding, the more company profits you are entitled to, and the greater control you have in the…

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    About Companies Businessman with briefcase walking with ball and chain attached to his ankle, symbolising the liability of company directors.

    Are company directors liable for its debts?

    By Alex HeshmatyAugust 8, 201910 Comments

    Are company directors liable for the debts of the company? We explain the circumstances where directors of a limited company can be held responsible for its debts. 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,…

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    About Companies A business person holding an iPad displaying the new Company House Service with the old 'BETA' name scored out.

    Companies House BETA renamed Companies House Service

    By Rachel CraigJune 30, 2019Leave a comment

    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 that is…

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    Filing & Finance IR35 concept illustration with money, tax, and legal icons.

    Changes to IR35 (Off-Payroll) rules

    By Nicholas CampionFebruary 11, 2019Leave a comment

    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 would be delayed for 1 year, from 6 April 2020 until 6 April 2021. These changes have now come into force. The Chancellor’s Autumn Budget 2018 included a broad set…

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