Comprehensive company formation services

When considering business structures, it’s essential to understand the differences. Here’s a brief overview:

Limited company: A limited company is a distinct legal entity that protects personal assets. The company is liable for its debts, and profits are subject to corporation tax.

LLP (Limited Liability Partnership): An LLP combines features of a partnership and a company, offering partners limited liability and taxing profits as personal income.

We can help you evaluate the advantages and disadvantages to determine the most suitable structure for your business objectives.

When your business requires a new address, there are a few essential steps to take:

Notify Companies House: It’s essential to inform Companies House about any change in your registered address within 14 days of the change.

Update HMRC and other authorities: You may also need to update other relevant authorities, such as specific tax departments within HMRC or your local council.

Update bank details: Ensure that your bank has your new address to prevent any disruptions in financial transactions.

We are here to assist you throughout this process and ensure that all the necessary paperwork is submitted promptly.

It is strongly advised, although not mandatory, to have a dedicated business bank account. There are several advantages to having one:

Clear financial separation: It enables you to keep your personal and business finances distinct, simplifying the tracking of income and expenses.

Tax efficiency: Maintaining a business bank account can facilitate claiming legitimate business expenses.

Professional image: It contributes to a more professional brand image for your business.

We can assist you in selecting the correct bank account and offering guidance on the account opening process.

A newly formed company must meet several compliance requirements, including:

1. Company registration: Ensure your company is registered with Companies House and has received its certificate of incorporation.
2. Tax registration: Register with HMRC for corporation tax and, if applicable, VAT and PAYE.
3. Record keeping: Maintain accurate financial records, including income, expenses, and payroll information.
4. Filing deadlines: Submit annual accounts and confirmation statements to Companies House, and file a corporation tax return with HMRC.
5. Director responsibilities: Ensure directors comply with legal duties, such as acting in the company’s best interests and maintaining proper financial oversight.

We are committed to keeping you informed about your compliance obligations and ensuring you stay up to date with all necessary paperwork.