In our latest interview we chat with George Bevis – founder of Tide, a business current account launched at the beginning of last year and counting 30,000+ members already – making it the fastest growing new B2B fintech in the UK ever.
Tide is a next-generation banking service for business owners, but it’s really about doing what you love, and having more time for it. The problem we solve, is that banking and admin tend to soak up a huge amount of time for business owners and that’s something they rightly loathe. We’re here so that business owners can spend as little time on banking as possible. Continue reading →
Firstly, congratulations. You are now at a stage where your business idea is ready to become a reality. The next step is registering a company with Companies House, the question is; what is the best way to go about doing this?
You can of course go straight through Companies House, but what if you want something more than a bare-bones formation? Continue reading →
James Crowther owns one of Europe’s 20 million SMEs. Utilising his background in finance and fleet management, James’ vehicle brokerage business, Trade Vehicles Direct, finds clients the best deals on cars by sourcing direct from suppliers. His negotiation skills and industry relationships are key to his success and have allowed him to grow fast in his niche. Unfortunately, he struggled to fund the rapid growth since the main banks struggled to analyse his model and fit his business in a convenient box. Continue reading →
As a business owner it is important to know about wider issues – which may indirectly affect not just your venture but the business landscape in which you operate in. As a small business one of the most important skills that you will need to have is adaptability. Circumstances may never be totally ideal so it’s important to find ways to adapt to societal changes – whether this be a global recession, heightened terrorism or a weak government – you as a business owner need to adapt to changing landscapes. Continue reading →
After last week’s hiatus – looking at the VW crisis – The Week in Startups returns for your usual fix of all the latest news in the SME world. In another boost for small businesses a large European bank has agreed to invest in a very popular peer-to-peer platform. At MadeSimple we believe in the importance of our products but also in dispensing important and relevant news that relates to you. Continue reading →
First, let’s look at what we mean by paid for. Paid for indicates that the value of the shares in a limited company have been paid into the company’s bank account (or other fund such as petty cash). A company can have both paid shares and unpaid shares; it’s not a case of all or nothing.
Emily Coltman FCA, Chief Accountant to FreeAgent – who provide an award-winning online accounting system for small businesses – explains what companies must send to HMRC and when.
Registering the company
HMRC are automatically notified when a company is formed at Companies House, so about three weeks after registering your new company, you will receive an introductory letter from HMRC.
If your company is dormant, simply write back to HMRC at the address shown on this letter to tell them so. You won’t then need to file any tax returns for your dormant company unless and until it starts trading.
There is mass confusion surrounding the annual accounts and the annual returns. Some people mistake one for the other; some people recognise one but fail to recognise the other and some people completely ignore them both.
However, it is easy to see why there’s uncertainty…
They’re both compulsory filing obligations for a private company limited by shares
They’re both required regardless of a company’s trading status (unless a company is dissolved or in the process of being dissolved)
They’re both delivered to Companies House
They’re both delivered annually (and they both have annual in their name!)