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…
A limited by guarantee company is an alternative type of business structure that is normally used by charities and other types of non-profit organisations. Companies limited by guarantee don’t have share capital or shareholders. Instead, they are controlled by one or more ‘guarantors’, each of whom guarantees a fixed sum of money to the business…
Limited companies must provide between one and four SIC codes to Companies House to specify what kinds of business activities they carry out. You can change a SIC code with relative ease whenever the need arises, whether that’s because you’ve provided the wrong code(s) or your company’s activities have changed or diversified since incorporation. What…
You can change a company name at any time after incorporation, as long as it adheres to all company name rules and regulations. Depending on the provisions outlined in the company’s articles of association, the change of name can be authorised in one of two ways: by special resolution of the members, or by resolution…
We are often asked to explain the difference between ‘Limited’ and ‘Ltd’ at the end of a company name. There is absolutely no difference, other than the fact that one is a complete word and the other is a shortened form. It’s entirely up to you whether to use Limited or Ltd. Using Limited or…
One of the many important statutory duties of directors is prepare and send annual accounts at the end of their limited company’s financial year. These accounts must be delivered to Companies House 9 months after the accounting reference date (ARD), at the very latest. You can deliver them online via Companies House WebFiling or Companies…
