When forming a UK Company, you will be requested to detail SIC (Standard Industry Codes) for the business. Companies House do provide a pre-set list of SIC codes which you must select from. You must select at least 1 code, and can have up to a maximum of 4 in place. We would recommend that [...]
It is a legal requirement for UK companies to make their company registers available for public inspection and for the address to be displayed on Companies House. The SAIL address is a Single Alternative Inspection Location and can be provided to Companies House as the location a UK limited company or LLP stores their company [...]
When starting your own business there are many different numbers and codes your company will acquire and it can be difficult to remember which codes are used for different services. One of the most important numbers your company will receive is the Unique Taxpayer Reference (UTR). This code is issued by HMRC and consists of [...]
Have you considered how your business would cope in the event of unforeseen circumstances? Many business put very little thought into disaster planning believing that it won’t happen to them. Major weather occurrences or accidents could leave your business completely unable to trade. Imagine running your business with no power, phone service, internet, access to bank [...]
The accounting reference date is an important deadline that all Limited companies must be aware of. Knowing your accounting reference date will prevent your company from incurring financial penalties issued by Companies House. What is an accounting reference date? This is the end of the financial year for a Limited company and the dates their [...]
At the time of incorporation a Limited company must inform Companies House of their intended business activities. This information is communicated to the government by selecting a Standard Industrial Classification code which is often referred to as an SIC code. All companies are legally required to provide this information even if they do not intend to begin [...]
The ownership structure of a limited company is characterised by the distribution of its share capital. Two shareholders, for example, may hold 50 shares each out of 100 issued shares illustrating their equal 50% ownership. Each share class is assigned with rights, otherwise known as prescribed particulars. The rights outline the powers the respective shareholders [...]
Are you a small business owner in search for a prestigious registered office address? A registered office address is very important for a UK business. Government agencies send all official notices to the registered address of a company. Having an effective address for communication plays a crucial role. It not only boosts the image [...]
Most shareholders of UK limited companies need advice when making changes to the company structure or issuing a dividend. SFS provides a range of guides for limited companies to help owners of small businesses. Making adjustments to your company shares can be complicated and confusing. Re-structuring your company or simply recording the changes can seem [...]
Many business owners put little consideration into the type of shares they issue at the time of incorporation. However, there are a number of things you may want to consider when issuing company shares. One of the biggest decisions to make is if you want to issue different types of shares to create flexibility. When [...]
