Sole Trader or Limited Company – How will your Business Hatch?

Got a great business idea and now ready to crack on? Eggcellent, eggciting, eggcetera. Now you need to decide what legal structure to proceed with.

In this blog post we are going to look at two of the most popular structures that are available to you:

• Limited Company (in this case a Private Company Limited By Shares)
• Sole Trader

Let’s eggxamine:

Private Company Limited by Shares

A limited company is run by directors and owned by shareholders (a company can be run with one person acting as the director and shareholder). Continue reading

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What’s the difference between Subscribers and Shareholders?

Ever wondered what the difference between a limited company subscriber and a limited company shareholder is? Watch team member Sinead’s explanation below!

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What post will you forward on with my service?

Find out what mail you’ll receive and with what service

We offer a whole range of postage services. Because of this, it’s important that you know exactly what mail is included in each service. Let’s get started:

Registered Office

The registered office service is included in our Privacy, Comprehensive and Ultimate formation packages and can also be bought at a reduced rate of £19.99 with our Basic and Printed packages. This service is predominantly used to keep your home address private, as the registered office for a company will be displayed on the Companies House website. Continue reading

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3 Reasons Why Company Formation Applications Get Rejected

Avoid limited company formation frustration!

Forming a limited company is extremely simple. However, sometimes applications are rejected by Companies House (don’t worry; if you are forming with us you can resubmit the application for no extra charge). Here are 3 of the most common reasons why applications tend to be rejected.

Company Name

There are certain rules and requirement that apply when registering a company name. These are the main restrictions:

Sensitive words; If your company name contains what is considered a ‘sensitive word’ (such as Group, International, Association) you must supply the relevant supporting document along with your application. Also, the name can not suggest any connection with Her Majesty’s Government or local authorities. For the full list of words (and criteria) please see here:

Sensitive words and expressions Continue reading

Posted in Companies House, Company Formation, Company Name, Company Register, Company Registration, Limited Company, Registered Office | 1 Comment

What is the Company Register?

The Company Register… Explained

The Company Register is a physical register that comes as part of our Ultimate Company Formation Package; it can also be purchased separately from our General Company Products area for £24.99 plus VAT.

As described on our General Company Products page, the Company Register is; “A stylish register to store all of your official statutory company documents. Organised in logical sections with tabbed labelling for easy navigation”.

It is made up of 10 sections dedicated to:

• Applications and Allotment
• Members
• Transfers
• Directors and Secretaries
• Directors’ Interests
• Debentures
• Mortgages and Charges
• Minute Book
• Share Certificates
• Documents and Registrar

If you have any questions in regards to the Company Register, simply contact us or comment on this blog and we’ll get back to you.

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Guide to your Free Business Start Up Toolkit

Your Start Up Toolkit

Starting your own company is a very exciting time; however it can be confusing deciding where to turn first. The free Business Start Up Tool Kit is designed to help you make those first tentative turns. Here is a brief rundown of:

• What’s included in the Business Start Up Toolkit

• How the products delivered to you

• How you can make the most of each product

Free Fast-track Barclays Business Bank Account with £50 cashback

How is it delivered?

Once you have purchased your chosen package you will be presented with our bank screen. If you click on the Barclays option you will be prompted to enter in your personal contact details. This information will be sent over to Barclays who will be in contact (in 2-3 working days) to set up a meeting. This service is available to UK customers only.

How can you make the most of it?

Once the account has been set up, you can claim the cashback by referring back to our website and clicking on the Barclays icon at the right hand side of the homepage. Click on the tab starting ‘Already opened your account?’ – you can then claim the cashback. Continue reading

Posted in Accountant, Business Planning, Company Formation, Domain Name, Limited Company, Tax | Leave a comment

The UK’s Company Formation Hotspots

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Video Blog: What are Dormant Company Accounts?

In our latest video blog, Peter explains what Dormant Company Accounts are, who can file them, and what to do if you miss the deadline.

See here for more information on our own Dormant Company Accounts service.

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UK Company Formation Figures 2012 / 2013

We have compared the Companies House formation statistics for 2013 with those for the previous year. Here’s what we found:

517,210 companies were formed in 2013 compared with 479,545 in 2012.

The only month in 2013 that saw fewer companies formed than its 2012 counterpart is March. The difference being 1,613 companies.

April has the greatest difference between 2012 and 2013 with the latter forming 7,649 more companies.

In 2012, March witnessed the most formations. In 2013, October takes the honours, followed by April. Both surpass March 2012.

December has seen the fewest formations over both years.

Information sourced directly from Companies House.

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Do I need to use an Accountant yet?

While there is no legal requirement for limited companies to employ an accountant to look after their affairs, there are a number of reasons why the vast majority of limited company owners opt to use accountants instead of taking charge of their own record keeping and tax affairs.

An accountant can be relied upon to add considerable value to your business; preventing errors, ensuring accurate year-end statutory accounts and reviewing potential tax savings.

So what are the biggest advantages of putting your faith in an accountant to take care of your firm’s financial duties?

Accurate record keeping

Engaging an accountant to take care of bookkeeping isn’t always viable for small firms, but as your business grows you may have the budget to sign up with a local accountant to take charge of the more complicated tasks. Continue reading

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