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Reminders for Directors

  • One person can form a Ltd company.
  • Directors are to provide service address to Companies House for public record instead of residential address.
  • Service address can be the company registered office or other address as long as mails from Companies House can reach the directors.

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UK Tax Authority - HM Revenue and Customs

  • Companies are required to register for VAT if annual sales exceeded £68,000.
  • Companies are required to register for PAYE if directors are drawing salaries and maintain payroll records.
  • HM Revenue and Customs will issue £100 penalty if companies failed to file corporation tax returns on time.
 
Business Quiz - See what your score
1. A petty cash book:
 
Is used only in limited companies
Is used when there is a bank overdraft
Is used for small cheque payments
Will keep down the number of entries in the general ledger.
Submit
 
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Costly mistakes for employers

 

Nowadays many growing businesses employ staff to keep up with the growth. This means that having proper employee handbook detailing the company policy and procedure is of vital important to both employers and employees. These policy and procedures can serve as a guideline in resolving any disputes between employers and employees and encourage fair and consistency.

Generally, employers can be taken to Employment Tribunals for the following reasons.

  • Sacking an employee unfairly
  • Refusing employees to take their holidays or breaks
  • Refusing employees’ rights
  • Discriminating against people who work for you, want to work for you or have worked for you
  • Failing to provide a safe and healthy work environment
  • Paying employees below minimum wage
  • Asking employees to work long hours
  • Not following disciplinary procedures
  • Owed monies to employees for sickness, maternity and redundancy
  • Not paying men and women equal pay for the same job.

Doing the right thing by complying the employment law can avoid unwelcome publicity. The kind of publicity will damage your business reputation and you will be marked as bad employers.

Canterbury Accountancy - Helping businesses to adopt good employers’ practices.

 
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London Registered Office for Ltd Companies

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