Running a business can involve a lot of admin tasks - some of which you may be unsure how to go about, or when you’re just getting started, you could even be unaware that you need to do them. At Paramount, we want to take some of that strain away from you, so that you can spend your time on the things that will help your business grow. Here we explain some of the things you may need to do for your business, and how we can help take care of them for you, right from forming your business to closing it if you ever decide that’s something you want to do.
Form A Company
At Paramount, we have a range of company formation products and packages for you to choose from. Our all-in-one formation package includes a ready made or own name formation, VAT registration and a business bank account. You can also combine your company formation with a registered address service, or take advantage of our e-package if you want to protect your company name but are not yet ready to trade. Our ready made companies are Companies House registered company names available for you to trade immediately, while our vintage companies have the added bonus of being registered for a significant period, giving you instant history and trustworthiness.
We can also set up Limited Liability Partnerships (LLPs), Public Liability Companies (PLCs) and offshore companies.
Business Bank Account
A business bank account is essential for keeping your financial affairs in order, and when you set up your business with Paramount Company formations, a business bank account is included. We are members of the Barclays New Business Introducers Scheme and we have access to an automated referral system, with which we can fast track your details to Barclays on incorporation of your company.
We have also partnered with Tide, an e-money account provider available to both UK and overseas customers.
Change Of Company Name
If you’ve bought a ready made or vintage company, it will have come with its own name - but you’re not stuck with it forever. If you don’t like the name or need to change it to something more appropriate for your company, you can take advantage of our company name changing service and the whole process can be completed in just a couple of hours.
All UK limited companies need an official registered address where post can be sent to from Companies House, Inland Revenue and other professional bodies. This doesn't have to be your place of business, and as it's available on the public register, you may not want it to be. Instead, you can use our prestigious London address as your registered address for an annual fee. This could be very beneficial if your rental agreement or lease means you can't use your home for business purposes, or if you want to reduce junk mail and avoid unannounced visits.
While your company must have at least one director, you don't need a company secretary for a private limited company. However, many companies do have a secretary who takes on some of the director's responsibilities. Paramount can supply a company secretary for you to help take the burden from you. A company secretary ensures the smooth administration of the company, including being responsible for compliance with financial and legal regulations.
All shareholder information for your company must be recorded at Companies House and on the company's statutory registers. This means that all directors and shareholders will appear in this way - but there could be several reasons why you might not want this to happen. Instead, you can take advantage of our nominee shareholder service to protect your privacy. The service is provided by a named limited company registered at Companies House and is not a named individual. A specific contract will be put in place to confirm that the shares are held in trust on behalf of you, the beneficiary.
If your sales have reached £85,000 in the last twelve months, HMRC states that you must register for VAT, but you can also register before then. This enables you to reclaim paid VAT, charge VAT on products and services, and increase trust among customers and suppliers. We can get your company VAT registered for you so that's one less thing for you to worry about when setting up or growing your business.
EORI Number Registration
An EORI number is assigned to businesses or people looking to ship goods into or outside of Great Britain. You need one if you are involved with the import, export or movement of goods under a transit procedure. EORI number registration can be complicated, but at Paramount we can arrange this for you, usually within four working hours.
A confirmation statement contains information about company directors, shareholders, the registered address and share capital. The company director and secretary are responsible for ensuring the confirmation statement is filed at Companies House every year, but we can help you with this. We file confirmation statements quickly and efficiently, and can do so even if you formed your company elsewhere.
Close A Company
Finally, if the time has come for you to close a company, we can help you with that, too. Closing a company is a complicated and lengthy process, taking around three to four months - but we can take care of everything for you.
If you would like to find out more about our services, contact us online or call 0800 0198 698.