A Dormant company is one that does not have any significant trading or financial activity. This does not mean that the company will have no financial transactions at all. During company formation certain costs will arise, such as the initial company registration fee, filing costs and any other fees that may occur when setting up a company. …
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30th January 2012 by NickWis
What are the potential dangers of having my home address as the Registered Office address of my company?
What is a Registered Office address?
When setting up a company in the UK you must complete an application and file three types of document. These are:
1. A memorandum
2. An application for registration
3. The proposed articles
Within the application for registration the following basic information is stated:
- Whether the company’s registered office is to be situated in England and Wales, Scotland or Northern Ireland (known as its ‘domicile’)
- The intended address of the company’s registered office
It is a legal requirement when setting up a limited company to have an address in the UK that can be declared as the company’s registered office. This address is allowed to be a residential address (for example the home address of a director) however there are potential negative connotations of this choice that need to be taken into consideration.
What are the potential dangers of having my home address as the Registered Office?
An outcome of the incorporation process is that certain information related to the business is now publically available. It is a legal requirement for this information to be on the company website and also the company’s business letters. This provides you with many possible outcomes of this that need to be considered. For example, all customers and suppliers that you have dealt with will know where you live. This exposes you to the possibility of some of those seeking to redress any potential grievances with you in your own home. Any tax issues that may occur during the course of business could lead to being pestered by tax officials whilst at home. In addition a client’s view of the professionalism of a company may be affected if they see that the registered address is a residential one.
It may not always be possible to use your home address even if you wish to. If you do not own your own property and are renting you may not be able to use your home as a place of business so it may be necessary to consult your landlord. If you are a home owner there is a chance that your council tax rates may increase if your home is a registered place of business.
What are the potential benefits of a Registered Office service?
The above risks involved with selecting a residential address for a Registered Office means that a Registered Office service may appeal when wishing to set up a company. By forming your company online with Wisteria Formation there is the option to benefit from our Registered Office service. By having the address of a well respected accountancy firm on your company documents it will project a greater amount of credibility to interested customers. We offer a mail forwarding service that will take care of your post quickly whilst also helping to identify and eliminate spam mail.
If you have any questions in relation to our registered office service on anything else when looking to register a company, please contact our customer support team on 0844 893 0808.
24th January 2012 by NickWis
What do I need to register a company?
Starting a business can be an exciting time for any entrepreneur, energised by the prospect of turning their ideas and ambitions into a successful career. When looking to get this idea off the ground, many will look to register a company as the structure to grow your business. However, there are a number of important things you need to consider before company registration, to avoid any delays in the process. The following three action points will help to ensure none of the necessities are missed. …
23rd January 2012 by NickWis
What are the tax consequences of company formation?
One reason that an individual may decide to proceed along the route of company formation is that they want to transfer their sole trader business and assets to the structure of a limited company. Those owning the sole trader will become the director and shareholder of the business and the previous business will be transferred. However, many people ask about the tax consequences of transferring assets to the newly incorporated company. …
19th January 2012 by NickWis
10 Common Questions about Company Registration
When looking to register a company, individuals often have a number of different concerns and queries with regards to the process, the timescale, and the requirements. In order to ensure that you can set up company meeting the full statutory requirements, it may be useful to consider these 10 common questions we get asked at Wisteria Formations …
17th January 2012 by NickWis
Why do I need a business plan for my newly set up company?
One of the commonly neglected, yet one of the most important aspects to setting up a company is the creation of some form of business plan. Having some form of planning in place, whether relating to the goals of your business or the finances, could be the difference between whether your business idea soars or falls flat. There are a number of benefits that a professional plan can offer to your limited company. Here, we look at what is included in many successful business plans, and what assistance they can bring at the start of your company’s life. …
16th January 2012 by NickWis
What is the difference between a director and a shareholder of a limited company?
Upon company formation there are a number of different officers which can be appointed to the limited company, with differing roles and responsibilities accompanying each position. The two compulsory positions that need to be filled at the time of incorporation are those of a director and a shareholder. At least on director and one shareholder need to be appointed when the company is set up. In addition, a company may choose to appoint a company secretary, but this is no longer a compulsory requirement for UK limited companies. …
13th January 2012 by NickWis
Group company registration: annual accounts
You may be looking to set up company as part of a group of companies, meaning that it either has a parent or subsidiary relationship with another entity. The two terms often used in company names that link to the group structure are “group” or “holdings”, which are sensitive words. When given the restrictions on the use of this word, many individuals will change their company name. However, some are actually looking to create a group, and it is important that they are aware of the obligations that apply to their companies in completing statutory administration. …
12th January 2012 by NickWis
What is a financial year?
There are a number of important time periods and dates to consider following your company formation that will direct when statutory filings for your company need to be completed. There are a number of different submissions that need to be made to Companies House, namely the annual return and annual accounts. These must related to the company’s information and finances over a certain period of time, often the company’s financial year. …
ALL THIS FOR
£24.99
- Limited company
- Electronic Memorandum & Articles of Association
- Electronic certificate of incorporation
- Electronic company register
- Bank account (if you need)
- Free consultation with a tax advisor or chartered accountant
