If you’re a sole trader, you may have set up as such in the beginning to make things easier from an administrative point of view. And now that you’re earning more, you may be thinking of setting up a limited company.
Your business name may have sounded great when you registered it, but sometimes names don’t stand the test of time. Whatever the reason for changing your company name, it isn’t a decision to take lightly, so there are a few things you should take into consideration before you start ordering new business cards.
Whether you are a sole trader setting up as a limited company or you’re setting up a brand new business, forming a limited company is an exciting time. Read on to find out our five top tips for setting up a limited company.
If you’re just getting your business off the ground – or even if you are already an established company – you may be thinking about writing a business plan. But writing a business plan can be time consuming and difficult to start, so much so that one of your first thoughts may be “Do I really need to do this?” Whatever your business, the answer to this question is yes – and here’s why.
Vintage companies, aged shelf companies and old companies are all companies that have been registered with Companies House over a period of time. Although these companies may have not previously traded, they will have previously submitted Confirmation Statements, Company Accounts and Director Appointments to be filed at Companies House.
A confirmation statement (CS01) replaced the annual return on 30th June 2016 and is intended to confirm the information about your company, registered at Companies House, is accurate and up to date.
A dormant company is a limited company that is not currently trading. If you set up a business and register it as a limited company, you do not have to start trading straight away if the time is not right for you.
When a limited company or Limited Liability Partnership (LLP) is formed, it is a legal requirement to provide a registered office (RO). This is the official ‘head office’ address where all correspondents will be sent, so there must be a physical postal address that is maintained at all times, in a location adjacent to where you incorporate your company or Limited Liability Partnership.
Opening a business bank account should be easy but the average trip to the High Street for business banking may leave you frustrated - given that most banks no longer have local business managers.
All UK limited companies must have a formal registered address where official post can be served, as well as post from HMRC. While it might appear logical for a registered address to be the office or building you work from, there are many good reasons why choosing our London registered address makes the most sense:
* All timescales are dependent on how busy Companies House are and if their system is operating normally.
* All prices are plus VAT