If you have lost your Companies House WebFiling authentication code, don’t panic! There are a couple ways you can get it back – by contacting Companies House, or by speaking to your company formation agent. Lost WebFiling authentication code – what to do 1. Contact Companies House You can contact Companies House directly to request…
A company’s financial year is the period of time covered by a company’s annual (‘statutory’) accounts. This is normally 12 months long, except in the first year when the period runs from the date of company formation until the end of the same month the following year. This end-of-year date is known as the ‘accounting reference…
All limited companies registered in the UK are required to prepare financial accounts for Companies House and HMRC each year. These accounts are often referred to as ‘annual accounts’ or ‘statutory accounts’ and they are used to report the financial activity and performance of a business during its most recent financial year. The financial year of a limited company is usually a…
Could you do the accounting for a limited company? The immediate response from most people would be a resounding “Absolutely not!” The very thought of tackling receipts, paperwork, calculations and taxes doesn’t bear thinking about. However, if you have some prior experience in accounting or bookkeeping and you are confident in your ability to deal…
Self Assessment for directors is required by HMRC. This means directors have to file their own tax returns and pay Income Tax and National Insurance Contributions on all taxable income above their Personal tax-free Allowance of £12,500 (2020-21 tax year). However, the flexible structure of a private limited company allows directors to reduce their Income…
VAT registration is a requirement for businesses in the UK when their taxable income for the previous 12 months exceeds £85,000 (2020-21 threshold) or is expected to exceed that figure within the next 30 days, or they receive goods in the UK from the EU worth more than £85,000. Businesses can also opt for voluntarily…
The majority of working women in the UK are entitled to one year’s maternity leave from work. This can start any time from the 11th week prior to their due date and it consists of 26 weeks’ Ordinary Maternity Leave and 26 weeks’ Additional Maternity Leave. By law, all women must take at least two…
Every limited company is legally required to provide a registered office address during the company formation process. It serves as the official contact address of a limited company or LLP, so it must be maintained at all times. A registered office can be any type of address, whether residential or business, as long as it meets the following criteria:…
Limited Liability Partnerships (LLPs) have a number of statutory filing and reporting requirements for Companies House and HMRC, many of which are similar to those required of limited companies. LLP filing and reporting – the headlines An annual confirmation statement and annual accounts must be filed at Companies House every year. LLP members are responsible for…
The date of incorporation of a UK limited company is the date it is registered at Companies House in England and Wales, Scotland or Northern Ireland. This is when it comes into existence as a distinct legal entity. A company is ready to begin trading from the moment it is incorporated. However, it is possible to register the…
The account title of a limited company bank account must be the official name of the company that is registered at Companies House. If you change your company name and it has been approved by Companies House, you must update all business bank accounts and finance agreements with the new name. To change the account title…
In order to gain publicity, your company must be completely discernible from its competitors. You’ve got to ensure that consumers will instantly recognise your products and be inclined to purchase those products without thinking twice. But how? The answer lies in branding. According to the American Marketing Association (AMA), branding can relate to anything involving…
