Sole Traders and Contractors Forming Limited Companies
Many individuals working as sole traders and contractors have been forming limited companies to benefit from flexible tax planning. Operating as a company rather than a sole trader has several benefits that deserve consideration. Choosing to form a company rather than operate as a sole trader has been common practice for many years. As sole traders businesses grow it is [...]
Take Your Business Virtually Anywhere!
When starting a business, it’s not always possible to move straight into the perfect property or even any property. If you’re a consultant or a mail-order company, for example, the outlay of lease or buying offices or warehousing would outweigh the benefits. This will put pressure on your finances before you’ve even started. Using a virtual address removes the [...]
Adding New Shareholders and Increasing Share Capital
Many companies start life with just one or two shareholders. This is typical for new company formations but you may find that the company needs to add new shareholders or change the share structure at a later date. If you find that your company needs to add one or more new shareholders there are two options that are commonly [...]
What is a PSC Register?
From 6th April 2016, it was a requirement for all UK Companies, LLP’s and social enterprises to keep a record of ‘People with Significant Control’ (PSC). UK Companies have to gather this information in preparation for filing an official register. UK companies aree required to record the information at Companies House from 30th June 2016. The company is responsible [...]
Self-Assessment for Company Directors
Unlike employees of a company, directors are required to file self-assessment tax returns to calculate and pay any income tax and national insurance contributions they owe. Company directors must register with HMRC for Self-Assessment before they can send their tax returns. When you are employed by a company your employer provides the information to HMRC. The tax and national [...]
Guide to the New Small Business Enterprise and Employment Act
After its original announcement in 2014 the Small Business, Enterprise and Employment Act gained Royal Assent in March 2015. The scope of the Act is expansive and there will be significant changes to the laws behind corporate transparency, dispute resolution and statutory filing. Predominantly, the driving force behind the planned provisions is to increase trust in UK companies. This [...]