Private limited companies are no longer required to appoint a company secretary, unless a provision in the articles of association states otherwise. The articles of private companies registered before April 6th 2008 contain such a provision. However, members (shareholders/guarantors) can remove it at any time by passing a special resolution. If you do not remove…
Shortly after setting up a limited company, it is advisable to arrange a board meeting of the directors. The purpose of this meeting is to provide directors with an opportunity to discuss the formalities of the new business, consult the articles of association, and determine their respective duties and responsibilities. Pursuant to section. 248 of…
Limited company names are subject to certain restrictions and requirements under the Companies Act 2006 and the Company and Business Names (Miscellaneous Provisions) Regulations 2009. The secondary legislation that specifically governs the use of sensitive words and expressions is the Company, Limited Liability Partnerships and Business Names (Sensitive Words and Expressions) Regulations 2014. These statutory regulations…
A service address and a registered office are two types of addresses that must be provided during the company formation process. To help you to get to grips with these important addresses before setting up a company, we will discuss the different purposes and requirements of a service address and registered office below. A service…
Limited companies are legally required to keep and maintain a number of statutory registers and accounting records. As a company director, it is your responsibility to ensure that all of these company records and registers are accurate, up to date, and made available for public inspection at the registered office address or Single Alternate Inspection…
A limited company is a separate entity in the eyes of the law, just like an individual person. This means that all finances legally belong to the business in the first instance, so you cannot simply take money out of a limited company like it is your own personal bank account. To legally take money…
The memorandum and articles of association are two forms of documentation that all UK limited companies are required to have when they incorporate at Companies House. Together, the memorandum and articles create the basis of your company’s constitution. The memorandum states the names of each subscriber (the very first shareholders or guarantors who become members…
A limited liability partnership is a legal structure designed for businesses that would usually operate as traditional partnerships. Typically, these types of businesses include accountancy firms, solicitors, dentists, veterinary practices, architects, chartered surveyors, medical practitioners, and other professional services firms. Since the introduction of the limited liability partnership format in 2001, these firms can operate…
Limited companies and Limited Liability Partnerships (LLPs) share many characteristics. They must be incorporated (registered) at Companies House, they provide limited liability protection to their members (owners), and they have more complex filing and reporting requirements than unincorporated businesses like sole traders and traditional partnership. However, there are significant differences to take into consideration when…
Reporting changes to Companies House is one of the many duties you’ll be responsible for as a director or company secretary. In certain situations, you may also have to notify HMRC about changes to your business. Failure to fulfil these statutory requirements can have serious consequences for both you and your company, so it’s important…
Companies House informs HMRC when a new company is registered, so there is no need for you to contact them yourself. Shortly after company formation, HMRC will post a letter to your registered office address with your company’s Unique Taxpayer Reference (UTR) and form CT41G (Corporation Tax – Information for New Companies). The UTR is…
Setting up a UK limited company is a simple and affordable procedure, even if you are a non-UK resident. The application process and legal requirements are exactly the same for everyone, regardless of where they live. Below, we will walk you through the important steps to forming a UK company online. Registering a UK limited…
