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…
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…
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…
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…
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 –…
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…
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…
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…
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…
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,…
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…
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…
