Bored of the daily 9-5 office grind? Tired of being cooped up between four walls? Finding yourself distracted by cute dog videos on Twitter, wishing you could be out there in the fresh air with them? Then wish no more – Rapid Formations is here to “walk” you through the essentials of starting a dog-walking…
Address requirements can cause a great deal of confusion when setting up a business. If you find yourself in this situation, you’re not alone. When you start any type of small business, whether you set up as a sole trader or register a limited company, you will need to nominate at least one address for…
Shareholders are the beneficial owners of a limited company. These individuals (or corporate bodies) invest money in a business in exchange for shares, which represent a portion of ownership of the company. In return, limited company shareholders are usually entitled to vote on the management and overall direction of the business and receive a proportionate…
The first directors of a limited company are appointed by members (shareholders or guarantors) during the incorporation process. After company formation, members can appoint a director at any time, either to replace or support the current director(s). Private limited companies must have at least one natural (human) director at all times, but there is no…
A director is someone who manages the day-to-day aspects of running of a limited company, which includes all operational, financial, and statutory administrative duties. Along with company secretaries, limited company directors are referred to as company ‘officers. Directors are appointed by the shareholders or guarantors (members) who own the company. In many cases, particularly small…
The requirement to keep a register of people with significant control (PSC register) came into effect on 6th April 2016. Under the regime, UK private companies and LLPs must create and maintain an up-to-date register with details of the individuals who have significant control or influence over the business. What is the PSC register? The…
On 30th June 2016, the annual return was replaced with a new filing requirement called the ‘Confirmation Statement’. Despite the different name, the Confirmation Statement is essentially a simplified version of the annual return. You only need to file it once a year and there is no change to the filing fee or deadline. What…
Our business startup checklist covers 22 planning essentials that you may have to address when setting up a new business, whether in the form of a limited company, Limited Liability Partnership (LLP), or a sole trader structure. Whilst some of the points on our checklist may not apply to you at the moment, it’s worthwhile…
A limited company is a type of business structure that has been incorporated at Companies House as a legal ‘person’. It is completely separate from its owners, it can enter into contracts in its own name, and it is responsible for its own actions, finances, and liabilities. The owners of a company are protected by…
A corporate shareholder is a business entity that owns shares in another limited company. The term ‘corporate shareholder’ may refer to another limited company, a group of companies, a general partnership or limited liability partnership, a non-profit organisation or charity, a trust, or a community interest company (CIC). Essentially, any non-human legal entity that is…
Almost all private limited companies in the UK are required to include the word ‘Limited’ (or ‘Ltd’) at the end of their name when they are incorporated at Companies House. Welsh companies (i.e. those with a registered office situated in Wales) can use ‘Cyfyngedig’ (or ‘Cyf’) instead. However, some companies are exempt if they can…
A service address is an official contact address used by limited company directors, company secretaries, subscribers, People with Significant Control (PSCs), and LLP members. Companies House, HMRC, and other government agencies send statutory mail to these individuals at their nominated service address. Below, we explain how to change a service address after company formation. Change…
